sebi:WTM/GA/130/IVD/2/07
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Facts / Headnote
Suspension of certificate of registration for a period of one month
Regulations
- Reg. 4
- Reg. 13(4)
- Reg. 5(1)
- Reg. 13(2)
- Reg. 4(b)
- Reg. 47
Parties
- M/s Vidyut Devendrakumar
Holding
The Broker violated Regulation 4(b), (c) and (d) of the FUTP Regulations and Clauses A(2) and B(4) of the Code of Conduct, and its certificate of registration as Member of BSE was suspended for one month.
Full text
Page 2 of 27 1. 0 FACTS 1.1 The shares of Himachal Futuristic Communications Limited (hereinafter referred to as ‘HFCL’) are listed at the Bombay Stock Exchange Ltd. (hereinafter referred to as BSE) and at the National Stock Exchange of India Ltd.(hereinafter referred to as NSE). The price of the shares of HFCL noticed unusual movement during the period November 1999 and March
Page 3 of 27 CCL belonged to and or controlled by Shri Ketan V Parekh and Shri Kartik K Parekh. It was observed that the trades executed by the Broker on behalf of the said client had matched with select counterparty brokers and that the clients of the said counter party brokers were either the same KP entity or different set of KP entities. In some of the trades executed by the Broker, the buying and the selling client was the same i.e CCL. The trades made by the Broker in the shares of HFCL on behalf of the said client are mentioned below:
Page 4 of 27 22-Sep-00 20785 0 12:47: 59 29980 1326.00 850040001000 2227 B 1326 30000 12:47:59 C J Dalal Vidyut Devendra kumar PFMS 2000026 22-Sep-00 20785 0 12:47: 59 29980 1326.00 685001000100 18849 S 1326 30000 12:47:59 Vidyut Devendra kumar C J Dalal CCL 09-Oct-00 17649 15:20: 01 40000 1254.5 460012000100 01239 S 1254.5 40000 15:19:59 Milan Mahendra Sec Vidyut Devendra kumar PFMS 2000029 09-Oct-00 17649 15:20: 01 40000 1254.5 685001000100 20263 B 1254.5 40000 15:20:01 Vidyut Devendra kumar Milan Mahendra Sec CCL 13-Oct-00 13189 3 11:39: 40 38973 1006 248003000100 01646 B 1006 40000 11:39:38 Hem Securities Vidyut Devendra kumar PFMS 2000029 13-Oct-00 13189 3 11:39: 40 38973 1006 685001000100 20658 S 1006 40000 11:39:40 Vidyut Devendra kumar Hem Securities CCL 16-Oct-00 12341 12:44: 17 61354 1089 248003000100 01679 S 1089 65000 12:44:16 Hem Securities Vidyut Devendra kumar PFMS 2000030 16-Oct-00 12341 12:44: 17 61354 1089 685001000100 20799 B 1089 65000 12:44:17 Vidyut Devendra kumar Hem Securities CCL 16-Oct-00 26038 15:02: 46 11066 1025 460012000100 01361 S 1025 20000 15:02:45 Milan Mahendra Sec Vidyut Devendra kumar PFMS 2000030 16-Oct-00 26038 15:02: 46 11066 1025 685001000100 20847 B 1025 20000 15:02:41 Vidyut Devendra kumar Milan Mahendra Sec CCL 27-Oct-00 30278 15:26: 31 28628 1182 850040001000 2590 S 1182 34000 15:26:29 C J Dalal Vidyut Devendra kumar PFMS 2000032 27-Oct-00 30278 15:26: 31 28628 1182 685001000100 21817 B 1182 34000 15:26:31 Vidyut Devendra kumar C J
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Source: SecMarx — sebi:WTM/GA/130/IVD/2/07. 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.