sebi:WTM/GA/26/1VD/10/05
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Facts / Headnote
Minor penalty of censure imposed
Provisions invoked
- s. 12
Regulations
- Reg. 7
- Reg. 199
- Reg. 13(4)
- Reg. 4
- Reg. 5(1)
- Reg. 13(2)
- Reg. 200
- Reg. 3
- Reg. 6
- Reg. 13(1)
- Reg. 13(1)(a)
Parties
- M/s Chirag Investment (Proprietor: Shri Dhirendra Liladhar Raja), Member Pune Stock Exchange, SEBI Registration No. INB110955511
Holding
The Whole Time Member imposed a minor penalty of censure on M/s Chirag Investment (INB110955511) for violations in trading in the scrip of Home Trade Ltd. The broker was held to have violated broker conduct norms and PFUTP provisions by contributing to false market and failing due diligence.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order against M/s Chirag Investment Oct 24, 2005 | Orders : Orders of Chairman/Members SECURITIES AND EXCHANGE BOARD OF INDIA
1.1 M/s Chirag Investment (hereinafter referred to as the ‘broker’) is a member of the Pune Stock Exchange (hereinafter referred to as ‘PSE’) and is registered with the Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’) as a Stock broker under Section 12 of SEBI Act, 1992 with Registration Number INB110955511. 1.2 The scrip of Home Trade Ltd.(HTL) was listed at Pune Stock Exchange(PSE) and Bangalore Stock Exchange(BgSE). The scrip was listed at Pune Stock Exchange on November 15, 1999 at Rs 250/- and at BgSE on November 16, 1999 at Rs.275. There was a very sharp price rise in the scrip both at PSE and BgSE. The prices reached Rs.315 within two weeks i.e. by December 06,
February 2001. The scrip continued to trade at around Rs. 150/- till September 14, 2001 and thereafter in the range of Rs. 170/- till January 2002. 1.3 Thus during the period of investigation i.e. April 1, 2000 to December 2001 (hereinafter referred to as the period under consideration), two different periods of trading were identified as follows : a) 1st April 2000 to 31st March 2001 Name
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Source: SecMarx — sebi:WTM/GA/26/1VD/10/05. 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.