sebi:WTM/PS/11/IVD/ID-03/APRIL/2012
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Facts / Headnote
Proceedings disposed of without issuing any directions
Provisions invoked
- s. 19
Regulations
- Reg. 28
- Reg. 27
- Reg. 5(1)
- Reg. 38(2)
Parties
- SPS Share Brokers Private Limited
Holding
The charge against SPS Share Brokers Private Limited of creating artificial interest in the scrip of GIL is not established, and the proceedings are disposed of without issuing any directions.
Full text
Page 2 of 7 movement of the price and volume of the scrip was proportionate neither with the general market sentiments nor with any announcements from the company.
Page 3 of 7 Regulations’) and the Code of Conduct specified under Schedule II of SEBI (Stock Brokers and Sub-Broker) Regulations, 1992 (hereinafter referred to as ‘Broker Regulations’). As the Enquiry Regulations were repealed with effect from the notification of SEBI (Intermediaries) Regulations, 2008, the Enquiry Officer/ Designated Authority (hereinafter referred to as the ‘Enquiry Officer’) submitted his Report dated April 29, 2009, in terms of Regulation 27 of SEBI (Intermediaries) Regulations, 2008, recommending thereby a penalty of suspension of the certificate of registration of the noticee for a period of one month.
Page 4 of 7 Director, Mr. Manish Dave, Director, Mr. Gaurang Joshi, Advocate, Mr. Satyen Vora, Advocate and Mr. Manish Chhangani, Advocate appeared for the noticee and made oral submissions.
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Source: SecMarx — sebi:WTM/PS/11/IVD/ID-03/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.