sebi:WTM/KMA/IVD/288/08/2010
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Facts / Headnote
Show cause notice disposed of without any directions (benefit of doubt granted)
Provisions invoked
- s. 19
Regulations
- Reg. 11
- Reg. 4(a)
Parties
- Mr. Vijay J. Thakkar
Holding
The show cause notice issued to Mr. Vijay J. Thakkar alleging structured/synchronized/circular trades and creation of artificial volume and price was disposed of without any directions, granting him the benefit of doubt on the charges.
Full text
Page 2 of 8 cause notice dated September 23, 2005 was issued to him alleging that he had contravened the provisions of Regulation 4(a), (b), (c) and (d) of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 .
Page 3 of 8 were done on behalf of his client and not his own behalf. 4. Thereafter, SEBI vide letter dated May 14, 2010, advised the noticee to furnish the following: a. copy of contract notes issued by him to his client for all transactions pertaining to the shares of the Company, b. copy of ledger, c. copy of bank statements of stock broking account for payments/receipts made to the client for the said transactions and d. the client code assigned and entered by him in the system in connection with the trades.
Page 4 of 8 broker had objected to the details of the client ‘S04’ provided by him and nor the client (S04) had objected to the same.
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Source: SecMarx — sebi:WTM/KMA/IVD/288/08/2010. 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.