sebi:Settlement_Orders_224_Order_against_Devki_Finance_Trading_Private_Limited
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Facts / Headnote
Certificate of registration suspended for 3 months
Provisions invoked
- s. 19
Regulations
- Reg. 13(4)
- Reg. 15
Parties
- Devki Finance & Trading Pvt. Ltd.
Holding
The certificate of registration No. INS010417330 granted to Devki Finance & Trading Pvt. Ltd. was suspended for a period of 3 months. The Order was to come into effect on expiry of 21 days from the date of the Order.
Full text
preferential basis at a price beneficial to the allottees. 19. Thus, DFTPL has failed to exercise due skill, care and diligence in the conduct of its business and has hence violated the provisions of clause A(2) of Code of Conduct for Sub Brokers, as Specified in the Schedule II (Regulation 15) of Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992.
20. I am satisfied that this is a fit case to impose a penalty and I agree with the recommendation of the Enquiry Officer regarding suspending the registration of the member. However, I am of the view that the circumstances do not merit a penalty of 4 months, as recommended by the Enquiry Officer.
ORDER 21. Therefore, I, in exercise of powers conferred on me under Section 19 of the SEBI Act, read with Regulation 13(4) of the Enquiry Regulations, do hereby suspend the certificate of registration No.INS010417330, granted to Devki Finance & Trading Pvt. Ltd. for a period of 3 (three) months.
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Source: SecMarx — sebi:Settlement_Orders_224_Order_against_Devki_Finance_Trading_Private_Limited. 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.