sebi:Settlement_Orders_213_Order_against_Ashok_M_Chopra_Member_MPSE
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Facts / Headnote
Suspension of certificate of registration for a period of seven days
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 4
- Reg. 13(4)
- Reg. 5
- Reg. 200
Parties
- Ashok M Chopra
Holding
The certificate of registration (Regn. No. INB 070163218) of Ashok M Chopra, member of Madhya Pradesh Stock Exchange, was suspended for seven days for circular trading resulting in synchronized trades in The Dhar Textile Mills in violation of the Code of Conduct and FUTP Regulations.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA ORDER Against Ashok M Chopra, Broker, Madhya Pradesh Stock Exchange (SEBI Registration No. INB 070163218) under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002
1.0 BACKGROUND 1.1 Ashok M Chopra (hereinafter referred to as AMC) is a member of the Madhya Pradesh Stock Exchange and is registered with Securities and Exchange Board (hereinafter referred to as SEBI) as a stock broker with registration Number INB 070163218.
1.2 SEBI has conducted an investigation into the alleged irregularities in the trading of the shares of The Dhar Textile Mills (hereinafter referred to as Dhar) for the period b May 8, 2000 and March 9 2001 (hereinafter referred to as the period of investigation). When the trading details of the various entities that had traded in the scrip of Dha collected and analyzed along with the data of the volume contributed it was observed that AMC along with his client Pious M/s Overseas Pvt. Limited (hereinafter referre Pious) had actively traded in the scrip of Dhar and these shares were found to have been routed through only three brokers, i.e, MPSE Securities Ltd, Churiwala Securities Suresh O. Kandelwal Securities Ltd. (hereinafter referred as MPSE, Churiwala and Suresh respectively) which facilitated manipulation in the said scrip.
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Source: SecMarx — sebi:Settlement_Orders_213_Order_against_Ashok_M_Chopra_Member_MPSE. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.