sebi:WTM/PS/03/IVD/ID-06/APRIL/2012
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Facts / Headnote
Warning issued to the noticee
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 3
- Reg. 4(a)
- Reg. 28(2)
- Reg. 28
- Reg. 27
- Reg. 38(2)
Parties
- M/s Shreepati Holdings & Finance Pvt. Ltd.
Holding
The noticee violated Clauses A(2) and A(5) of the Code of Conduct for Stock Brokers stipulated in Schedule II under Regulation 7 of the Broker Regulations, and was warned to be cautious in its future dealings. The allegations of price manipulation in the scrip of CSL and of acting as a broker for another broker in violation of the 2004 circular were not established.
Full text
Page 2 of 7 scrip of CSL on behalf of its clients, CCL and Tirupati Share Registry Pvt. Ltd. (hereinafter referred to as “Tirupati”) at NSE. It was alleged, inter alia, that the noticee had aided and abetted its clients in the alleged manipulation of trading in CSL shares.
Page 3 of 7 also informed that in case of failure, it would be presumed that it had no explanation to offer and that SEBI shall be free to take such action in the manner as it deemed fit. A copy of the Enquiry Report was also forwarded to the noticee along with the SCN.
Page 4 of 7 Conduct for Stock Brokers as prescribed under Regulation 7 of the Broker Regulations? Whether the noticee indulged in price manipulation in the scrip of CSL in violation of Regulations 4(a), 4(b), 4(c) and 4(d) of PFUTP 1995 read with corresponding Regulations 3, 4(1), 4(2) (a), 4 (2) (b), 4 (2) (d), 4(2) (e), 4 (2) (g), 4 (2)(n) and 4(2)(o) of PFUTP 2003?
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Source: SecMarx — sebi:WTM/PS/03/IVD/ID-06/APRIL/2012. 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.