sebi:WTM/MPB/EFD-1-DRA-3/102/2017
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Facts / Headnote
Show cause notice dated September 30, 2016 disposed of without any directions (benefit of doubt granted)
Provisions invoked
- s. 11(4)
- s. 19
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(2)
- Reg. 3(a)
- Reg. 4(2)(g)
Parties
- AKG Securities and Consultancy Limited
Holding
The Noticee, AKG Securities and Consultancy Limited, was held not to have violated regulations 3(a), 3(b), 3(c), 3(d), 4(1), 4(2)(a) and 4(2)(g) of the PFUTP Regulations in relation to 576 self-trades in the scrip of Rushil Décor Limited, and the show cause notice was disposed of without any directions.
Full text
Order in respect of AKG Securities and Consultancy Limited in the matter of M/s Rushil Décor Limited Page 2 of 17 of provisions of SEBI (PFUTP) Regulations, 2003 in relation to execution of self-trades in several earlier cases including Onelife Capital Advisors Ltd. In view of the above, you are required to show cause as to why appropriate directions as deemed fit and proper including debarring for an appropriate period under section 11(4) and 11B of SEBI Act, 1992 for repetitive nature of violations (self-trades) as mentioned above should not be issued against you”.
Order in respect of AKG Securities and Consultancy Limited in the matter of M/s Rushil Décor Limited Page 3 of 17 REPLY AND HEARING
Order in respect of AKG Securities and Consultancy Limited in the matter of M/s Rushil Décor Limited Page 4 of 17 (b) Soft copy of the complete trade log and order log for the scrip of Rushil Décor Limited during the investigation period i.e. July 07, 2011 to July 12, 2011 on BSE and NSE. (3CDs). (c) Copy of prospectus of Rushil Décor Limited dated June 28, 2011. (d) Copy of letters sent by SEBI to the Ministry of Finance with respect to self trades in response to letters sent by Members of Parliament Mr. Hemant Tukaram Godse and Mr. Gajendra Singh Shekawat.
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Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-3/102/2017. 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.