sebi:WTM/AB/IVD/ID2/14174/2021-22
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Facts / Headnote
Noticee prohibited from taking up any new clients for a period of 4 months from the date of this order
Provisions invoked
- s. 19
- s. 12A
- s. 12
- s. 12(3)
- s. 2(27)
- s. 80J
- s. 10(27)
Regulations
- Reg. 28
- Reg. 27
- Reg. 3(a)
- Reg. 3(b)
- Reg. 26
- Reg. 25
Parties
- Yoke Securities Limited (previously known as Venture Broking Pvt. Ltd.)
Holding
Yoke Securities Limited facilitated synchronized and reversal trades for its clients in Pyramid Saimira Theatre Ltd. to aid Nirmal Kotecha in offloading his stake, violating Section 12A(a) and PFUTP Regulations, and is prohibited from taking new clients for 4 months.
Full text
Final Order against Yoke Securities Ltd. Page 1 of 20 WTM/AB/IVD/ID2/14174/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Final Order against Yoke Securities Ltd. Page 2 of 20 2. The SCN forwarded therewith copy of an Enquiry Report dated July 21, 2020 (hereinafter referred to as “ER”) submitted by the Designated Authority (hereinafter referred to as “DA”) and called upon the Noticee to show cause as to why action as recommended by the DA including passing of appropriate direction should not be taken against them in terms of the erstwhile Regulation 28 (2) (since omitted) of the SEBI (Intermediaries) Regulations, 2008 (hereinafter referred to as “Intermediaries Regulations”). In the ER, the DA had recommended that the Noticee may be a prohibited from taking up any new clients for a period of 4 months.
Final Order against Yoke Securities Ltd. Page 3 of 20 impending offer at Rs 250/-, the shares of the company shot up on Monday morning i.e. December 22, 2008, when the stock markets opened for the day. On December 22, 2008, PSTL first informed BSE and NSE in the morning that PSTL had not received any communication from SEBI regarding the media reports on Open Offer. BSE disseminated the denial by PSTL at 10:28:04 a.m. on December 22, 2008 on its website and NSE did so at 10:30:00 a.m. on same day.
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Source: SecMarx — sebi:WTM/AB/IVD/ID2/14174/2021-22. 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.