sebi:WTM/GA/86/ISD/08/06

SEBI · SEBI · 2001-01-01 · 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

Minor penalty imposed; request for reduction to warning rejected

Provisions invoked

• s. 12

Regulations

• Reg. 4
• Reg. 13(4)
• Reg. 5(1)
• Reg. 13(2)
• Reg. 4(a)
• Reg. 28
• Reg. 13(1)

Parties

• M/s. Amratlal Gopalji Thacker, Broker, Calcutta Stock Exchange Association Ltd. (SEBI Regn. No. INB 030785313)

Holding

The Broker was held to have violated Regulation 4(a) to (c) of the FUTP Regulations, 1995 by synchronized and circular trading in DSQ Industries Ltd., and a minor penalty was imposed under Regulation 13(4) of the 2002 Regulations.

Full text

Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER UNDER REGULATION 13(4) OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002 IN THE MATTER OF M/S. AMRATLAL GOPALJI THACKER, BROKER, CALCUTTA STOCK EXCHANGE ASSOCIATION LTD. (SEBI REGN. NO.INB 030785313). WTM/GA/86/ISD/08/06 1.0 BACKGROUND 1.1 Amratlal Gopalji Thacker (hereinafter referred to as the Broker) is a member of Calcutta Stock Exchange Association Ltd. (hereinafter referred CSE) and registered with Securities Exchange Board of India (hereinafter referred to as SEBI) under section 12 of Securities and Exchange B of India Act, 1992 ( hereinafter referred to as the Act)  having registration No.INB030785313. 1.2 SEBI conducted an Investigation into the buying, selling and dealings in the scrip of DSQ Industries Ltd. (hereinafter referred to as DSQ), whic  stated to be a group concern of Shri Dinesh Dalmia, main promoter of DSQ Software. The shares of DSQ are listed on CSE. The investig conducted by SEBI in the scrip of DSQ revealed that during the period January 01, 2001 to January 08, 2001 (hereinafter referred to a relevant period), substantial trades were executed between the Broker and another member of CSE, namely, Shri Harish Chandra Biyani price of the scrip of DSQ reached from Rs.360/- to Rs. 452/- within 4 days of the said trading and that the aforesaid brokers placed the o almost at the same t

14:53:39 899 180721404 373 14:53:30 0:00:08 SELL 805 35 100 373 14:54:08 900 210595234 375.6 14:54:07 **** SELL 35 805 100 375.6 14:54:08 900 180721412 375.6 14:54:00 0:00:07 BUY 805 35 100 375.6 14:54:35 901 210595243 377.8 14:54:34 **** SELL 35 805 100 377.8 14:54:35 901 180721418 377.8 14:54:16 0:00:18 BUY 805 35 100 377.8 14:55:02 902 210595253 379.6 14:55:02 **** SELL 35 805 100 379.6 14:55:02 902 180721426 379.6 14:54:51 0:00:11 BUY 805 35 100 379.6 14:55:36 903 210595258 381.1 14:55:33 **** SELL 35 805 100 381.1 14:55:36 903 180721434 381.1 14:55:24 0:00:09 BUY 805 35 100 381.1 14:55:54 904 210595262 382.9 14:55:53 **** BUY 35 805 100 382.9 14:55:54 904 180721438 382.9 14:55:43 0:00:10 SELL 805 35 100 382.9 14:56:07 905 210595265 384.6 14:56:06 **** BUY 35 805 100 384.6 14:56:07 905 180721440 384.6 14:55:57 0:00:09 SELL 805 35 100 384.6 14:56:20 906 210595267 386.7 14:56:18 **** BUY 35 805 100 386.7 14:56:20 906 180721445 386.7 14:56:11 0:00:07 SELL 805 35 100 386.7 14:56:29 907 210595271 388.5 14:56:28 **** BUY 35 805 100 388.5 14:56:29 907 180721449 388.5 14:56:22 0:00:06 SELL 805 35 100 388.5 14:56:44 908 210595275 389.8 14:56:42 **** BUY 35 805 100 389.8 14:56:44 908 180721453 389.8 14:56:33 0:00:09 SELL 805 35 100 389.8 14:57:27 909 210595289 387 14:57:26 **** SELL 35 805 200 387 14:57:27 909 180721464 387 14:57:19 0:00:07 BUY 805 35 200 387 14:57:50 910 210595295 390.2 14:57:50 **** SELL 35 805 100 390.2 14:57:50 910 90957990 390.2 14:57:42 0:00:08 BUY 805 35 100

13:19:29 933 61026580 419.6 13:19:28 **** Sell 35 805 100 419.6 13:19:29 933 180728880 419.6 13:19:20 0:00:08 Buy 805 35 100 419.6 13:20:01 934 61026583 417.5 13:19:59 **** Buy 35 805 200 417.5 13:20:01 934 180728885 417.5 13:19:53 0:00:06 Sell 805 35 200 417.5 13:20:21 935 61026587 419.5 13:20:20 **** Sell 35 805 100 419.5 13:20:21 935 180728892 419.5 13:20:11 0:00:09 Buy 805 35 100 419.5 13:20:32 936 61026588 419.8 13:20:31 **** Sell 35 805 100 419.8 13:20:32 936 180728900 419.8 13:20:23 0:00:08 Buy 805 35 100 419.8 1.7  The trades executed by the Broker with Shri Harish Chandra Biyani in the scrip of DSQ at CSE on January 08, 2001 , as per the trade log is below: Trade time Trade id

Source: SecMarx — sebi:WTM/GA/86/ISD/08/06. 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.