sebi:WTM/KMA/66/04/2009
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Anugrah Stock & Broking Pvt. Ltd. prohibited from buying, selling or dealing in securities in any manner whatsoever with immediate effect until further orders.
Parties
- Anugrah Stock & Broking Pvt. Ltd.
Holding
Anugrah Stock & Broking Pvt. Ltd., a member of BSE and NSE, is prohibited from buying, selling or dealing in securities in any manner whatsoever with immediate effect until further orders.
Full text
Client Name Client Code Script Name No. of Shares Sold Value (Rs.) Banty Dinesh Shah PBS51 RTS Power Co 13500 10,87,050.00 Banty Dinesh Shah PBS51 Usher Agro 1000 40,050.00
The action of the broker in executing trades in respect of his client despite the aforesaid prohibitory order of SEBI is a serious irregularity calling for immediate action against the broker to prevent further damage to the safety and integrity of the market and to protect the interest of investors.
Now, therefore, in view of the emergency situation caused by the aforesaid conduct of the broker it is hereby ordered in exercise of powers conferred under Sections 11, 11B and 11(4) of the SEBI Act, 1992 that Anugrah Stock & Broking Pvt. Ltd., Member, BSE (SEBI Reg. No. INB011185635 & INF011185635) and Member, NSE, (SEBI Reg. No. INB231185639, INF231185639 & INE231185639), is prohibited from buying, selling or dealing in securities in any manner whatsoever with immediate effect until further orders.
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Source: SecMarx — sebi:WTM/KMA/66/04/2009. 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.