sebi:WTM/GA/13/IVD/5/07
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Facts / Headnote
Penalty imposed: suspension of certificate of registration of M/s. Delhi Securities Ltd. (Registration no. INB 050626335) for a period of two months; order to come into force immediately on expiry of 21 days from date of order.
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 5(1)
- Reg. 13(2)
- Reg. 13(4)
- Reg. 13
- Reg. 3
- Reg. 4(a)
- Reg. 2
Parties
- M/s. Delhi Securities Ltd., Member, The Delhi Stock Exchange Association Ltd.
Holding
The Whole Time Member held that Delhi Securities Ltd. violated Regulations 4(a) to (c) of the FUTP Regulations and Clauses A(1) to (5) of the Code of Conduct under Schedule II of the Broker Regulations by executing trades in shares of Shonkh Technologies International Ltd. (STIL) that created a misleading appearance of trading and artificial volume/price, and imposed a penalty of two months' suspension of its certificate of registration.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER UNDER REGULATION 13 (4) OF SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002, AGAINST M/S. DELHI SECURITES LTD, MEMBER, THE DELHI STOCK EXCHANGE ASSOCIATION LTD. IN RESPECT OF ITS DEALINGS IN THE SHARES OF SHONKH TECHNOLOGIES INTERNATIONAL LTD.
Name of the Broker Quantity Bought ( shares) Percentage Quantity Sold (shares) Percentage Broker 9000 26.50 16100 47.42 A Nitin Capital Services 11100 32.69 13100 38.58 Agroy Finance & Investment Ltd. 12000 35.34 2800 8.24 Total of the aforesaid stock brokers 32100 94.53 32000 94.24 Total trades at DSE 33950 100.00 33950 100.00 1.5 The Broker bought 9000 shares and sold 16,100 shares of STIL during the above period at DSE. The said trades accounted for 26.50 47.42% respectively of the total buy and sell volume at DSE. The aforesaid trades were executed by the Broker on behalf of its clients vi Gopi Ram Gupta, Shri Baldev Raj and Shri Mukesh Gupta. The details of such trades are mentioned below : Date Qty. (Shares) Total Volume at DSE % to the total volume B/S Client Closing Price (rs.) % change 16.08.00 5000 5050 99 S Gopi Ram Gupta 325
22.08.00 7000 368.00 4.89 23.08.00 7300 395.55 6.96 24.08.00 100 427.15 7.40 25.08.00 0 427.15 0.00 28.08.00 5000 436.00 2.03 29.08.00 0 436.00 0.00 30.08.00 0 436.00 0.00 31.08.00 50 400.45 -8.88 05.09.00 300 427.00 6.22 06.09.00 50 430.00 0.70 07.09.00 0 430.00 0.00 11.09.00 100 431.00 0.23 12.09.00 500 435.00 0.92 13.09.00 0 435.00 0.00 14.09.00 500 440.00 1.14 15.09.00 0 440.00 0.00 22.09.00 500 440.00 0.00
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Source: SecMarx — sebi:WTM/GA/13/IVD/5/07. 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.