sebi:WTM/GA/161/ERO/3/07

SEBI · SEBI · 2001-07-02 · G. Anantharaman, Whole Time Member

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Suspension of certificate of registration for six months

Provisions invoked

• s. 19

Regulations

• Reg. 7
• Reg. 4
• Reg. 13(4)
• Reg. 5(1)
• Reg. 13
• Reg. 4(a)

Parties

• N.M. Lohia & Co.

Holding

N.M. Lohia & Co. violated Regulations 4(a) and (b) of the FUTP Regulations and clauses A(1), (2) and (4) of the Code of Conduct under the Broker Regulations, and its certificate of registration is suspended for six months.

Full text

Page 2 of 14 whether the said company, other intermediaries/ persons associated with the said buying, selling and dealing in the shares of the company contravened the provisions of Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 (hereinafter referred to as the FUTP Regulations), Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as the Broker Regulations), Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations,1997, (hereinafter referred to as the ‘Takeover Regulations’) and Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 1992 (hereinafter referred to as the Insider Trading Regulations).

Page 3 of 14 1.5 The Transaction details of the Broker in the shares of the company at CSE are as follows : Settlement No. Date of transaction Purchase Qty Sale Qty 2002117 18/7/2001 45000 45000 2002118 27/7/2001 46000 46000 7/8/2001 27000 27000 2002120 9/8/2001 18000 18000 13/8/2001 6000 6000 14/8/2001 27000 27000 200121 8/16/2001 3400 3400 21/8/2001 14200 14200 23/8/2001 30000 30000 2002122 24/8/2001 16000 16000 27/8/2001 24000 24000 29/8/2001 19500 19500 2002123 30/8/2001 40000 40000 3/9/2001 36000 36000 2002124 5/9/2001 16000 16000

Page 4 of 14 1292 18-Jul-01 2:51:41 PM 541524361 18-Jul-01 2:51:41 PM 5000 3.10 S 1292 18-Jul-01 2:51:41 PM 541524360 18-Jul-01 2:51:40 PM 5000 3.10 B 1293 18-Jul-01 2:51:56 PM 541524366 18-Jul-01 2:51:56 PM 5000 3.10 B 1293 18-Jul-01 2:51:56 PM 541524365 18-Jul-01 2:51:55 PM 5000 3.10 S 1386 27-Jul-01 1:59:48 PM 541544497 27-Jul-01 1:59:47 PM 10000 3.90 B 1386 27-Jul-01 1:59:48 PM 541544498 27-Jul-01 1:59:48 PM 10000 3.90 S 1387 27-Jul-01 2:00:10 PM 541544504 27-Jul-01 2:00:09 PM 10000 3.90 S 1387 27-Jul-01 2:00:10 PM 541544503 27-Jul-01 2:00:09 PM 10000 3.90 B 1388 27-Jul-01 2:00:31 PM 541544506 27-Jul-01 2:00:31 PM 10000 3.90 B 1388 27-Jul-01 2:00:31 PM 541544507 27-Jul-01 2:00:31 PM 10000 3.90 S 1389 27-Jul-01 2:00:43 PM 541544510 27-Jul-01 2:00:42 PM 8000 3.90 B 1389 27-Jul-01 2:00:43 PM 541544511 27-Jul-01 2:00:42 PM 8000 3.90 S 1390 27-Jul-01 2:01:05 PM 541544517 27-Jul-01 2:01:05 PM 8000 3.90 S 1390 27-Jul-01 2:01:05 PM 541544516 27-Jul-01 2:01:05 PM 8000 3.90 B 1424 07-Aug-01 2:51:27 PM 511710303 07-Aug-01 2:51:27 PM 9000 3.00 S 1424 07-Aug-01 2:51:27 PM 511710300 07-Aug-01 2:51:20 PM 9000 3.00 B 1425 07-Aug-01 2:52:50 PM 511710310 07-Aug-01 2:52:50 PM 9000 3.10 B 1425 07-Aug-01 2:52:50 PM 511710311 07-Aug-01 2:52:50 PM 9000 3.10 S 1426 07-Aug-01 2:53:11 PM 511710315 07-Aug-01 2:53:10 PM 9000 3.10 B 1426 07-Aug-01 2:53:11 PM 511710314 07-Aug-01 2:53:10 PM 9000 3.10 S 1427 09-Aug-01 2:33:39 PM 511717824 09-Aug-01 2:33:32 PM 9000 2.40 S 1427 09-Aug-01 2:33:39 PM 511717

Source: SecMarx — sebi:WTM/GA/161/ERO/3/07. 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.