sebi:WTM/PS/13/IVD/ID-6/APRIL/2011
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Facts / Headnote
Certificate of registration of the noticee suspended for three months
Provisions invoked
- s. 19
Regulations
- Reg. 3
- Reg. 15
- Reg. 5(1)
- Reg. 28(2)
- Reg. 3(a)
- Reg. 28
- Reg. 27
Parties
- Shree Parshwa Finance (Prop. Piyush Jhavery)
Holding
The noticee, Shree Parshwa Finance, was found to have violated the PFUTP Regulations, 1995 and 2003 and the Code of Conduct for Stock Brokers, and its certificate of registration as a sub-broker was suspended for a period of three months.
Full text
Page 2 of 7 2. Pursuant to the said investigation, it was alleged that Shree Parshwa Finance (hereinafter referred to as ‘the noticee’), received unlisted shares of STEL from a certain entity, namely, Rajesh N. Jhaveri and thereafter sold these shares to unsuspecting persons on the floor of the BSE.
Page 3 of 7 5. The noticee failed to reply to the SCN. An opportunity of personal hearing was granted to the noticee before me on December 16, 2010. On the scheduled date, the noticee attended the hearing and made oral submissions. The entity was granted 10 days to file written
Page 4 of 7 Member Broker Sub-Broker Major Ultimate Client Gross Purchase Gross Sales Shares % Shares % Park light Investments Pvt. Ltd.
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Source: SecMarx — sebi:WTM/PS/13/IVD/ID-6/APRIL/2011. 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.