sebi:WTM/KMA/ERO/IVD/71/05/2009
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Facts / Headnote
Certificate of registration of the stock broker suspended for a period of two months
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 7
- Reg. 28
Parties
- M/s. Ballabh Dass Daga (Registration No. INB 030492218), Member, Calcutta Stock Exchange Association Limited
Holding
The stock broker M/s. Ballabh Dass Daga was held guilty of contravening Regulation 4(a) and (b) of the PFUTP Regulations, 1995 and Regulation 7 read with Clauses A(1) and A(2) of the Code of Conduct under the Stock Brokers Regulations, 1992, and its certificate of registration was suspended for two months.
Full text
Page 2 of 11 Limited (hereinafter referred to as CSE). Sharadraj Trade Finance Limited (hereinafter referred to as the company) was one such company whose shares witnessed widespread speculative trading at CSE. In view of the alleged irregularities, the trading in the shares of the company during the period between July 2001 and October 2001 (hereinafter referred to as the investigation period) was subjected to investigation by SEBI to find out the possible violations of the provisions of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as SEBI Act) and the Regulations framed thereunder.
Page 3 of 11 Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as the Enquiry Regulations). Mr. Ballabh Dass Daga is the proprietor of M/s. Ballabh Dass Daga. For the sake of convenience, M/s. Ballabh Dass Daga shall henceforth be referred to as the stock broker.
Page 4 of 11 a) Whether the stock broker had contravened the relevant provisions of the PFUTP Regulations? b) Whether the stock broker had contravened the Code of Conduct prescribed for stock brokers under the Stock Brokers Regulations?
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Source: SecMarx — sebi:WTM/KMA/ERO/IVD/71/05/2009. 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.