sebi:WTM/PS/35/IVD/ID-03/JAN/10
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Facts / Headnote
Warning issued to the noticee to be careful and cautious in the conduct of his business
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 4
- Reg. 13(2)
- Reg. 28
- Reg. 5(1)
- Reg. 38(2)
Parties
- Ramrakh R. Bohra (SEBI Registration No. INB 010022711)
Holding
The noticee, broker Ramrakh R. Bohra, was held to have failed to maintain high standards of integrity, promptitude and fairness as required under Regulation 7 read with Clause A(1) of the Code of Conduct in Schedule II of the Broker Regulations, having aided and abetted his client ASK in creating artificial volumes in the scrip of GIL. The noticee was warned to be careful and cautious in the conduct of his business and to comply with all statutory provisions.
Full text
Page 2 of 8 the scrip also rose from 450 shares on December 20, 2002 to a high of 5,76,840 shares on January 3, 2003. The movement of price and volume of the scrip was neither in tandem with the general market sentiments nor with any announcements from the company which might have generated such an unusual interest in the scrip.
Page 3 of 8 Enquiry by the Enquiry Officer and Imposing Penalty) Regulations (hereinafter referred to as ‘Enquiry Regulations’), by appointing an Enquiry Officer under Regulation 5(1) of Enquiry Regulations vide order dated April 07, 2006. SEBI appointed the Enquiry Officer, to enquire into the alleged violations/ contraventions of the provisions of Regulation 4 (a), (b), (c) and (d) of the PFUTP Regulations and Regulation 7 read with Clause A (1), (3), (4) of the Code of Conduct as specified in Schedule II of the Broker Regulation. The Enquiry Officer submitted his report dated September 26, 2007, recommending thereby a penalty of censure to the noticee.
Page 4 of 8 hearing the noticee also filed the written submissions dated November 04, 2009. Noticee also sought 15 days time to file the additional written
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Source: SecMarx — sebi:WTM/PS/35/IVD/ID-03/JAN/10. 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.