sebi:WTM/AS/IVD/ID8/30004/2023-24
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Facts / Headnote
Noticee held to have violated Clause 10 of the Code of Conduct (Schedule B read with Regulation 9(1) of PIT Regulations); directed to disgorge ₹1,18,14,031.39 to SEBI for credit to IPEF, without interest or penalty.
Provisions invoked
- s. 11B
- s. 11
- s. 15A
- s. 19
- s. 11(1)
- s. 15H
- s. 11(5)
Regulations
- Reg. 3
- Reg. 9
- Reg. 201
- Reg. 9(1)
- Reg. 8(1)
- Reg. 9(3)
Parties
- Noticee (promoter and director of Alexander Stamps and Coin Ltd.)
Holding
The Noticee, as a Designated Person of Alexander Stamps and Coin Ltd., executed contra trades in violation of Clause 10 of the Code of Conduct and is directed to disgorge ₹1,18,14,031.39 to SEBI for credit to the Investor Protection and Education Fund, without any levy of interest or imposition of penalty.
Full text
Order in the matter of Alexander Stamps and Coin Ltd. Page 2 of 43 2. Pursuant to the investigation, a show cause notice dated November 23, 2022 (hereinafter referred to as the “SCN”) was issued to the Noticee alleging violation of Clause 10 of the Code of Conduct. Vide the SCN, the Noticee was called upon to show cause as to why appropriate directions for disgorgement of ₹1,18,14,031.39, should not be issued against him under the provisions of Sections 11(1), 11(4) and 11B(1) of the SEBI Act, and why penalty should not be imposed upon him under the provisions of Sections 11(4A) and 11B(2) for indulging in contra trades.
Order in the matter of Alexander Stamps and Coin Ltd. Page 3 of 43 Date Buy Volume Buy rate Buy Value Sell Volume Sell rate Sell Value Profit/Loss 09/03/2017 675 63.04
Order in the matter of Alexander Stamps and Coin Ltd. Page 4 of 43 Date Buy Volume Buy rate Buy Value Sell Volume Sell rate Sell Value Profit/Loss 12/04/2017 16125 46.82
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Source: SecMarx — sebi:WTM/AS/IVD/ID8/30004/2023-24. 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.