sebi:WTM/PS/54/IVD/ID-3/JAN/2012
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Facts / Headnote
Warning issued to the noticee to be more careful and cautious and to comply with statutory provisions
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 5(1)
- Reg. 28(2)
- Reg. 28(1)
- Reg. 38(2)
Parties
- Neptune Securities Private Limited
Holding
The Whole Time Member agreed with the Enquiry Officer and warned Neptune Securities Private Limited (SEBI Registration No. INB 020916635), member Ahmedabad Stock Exchange, to be more careful and cautious and to adhere to all statutory provisions.
Full text
Page 2 of 5 - Period I: March 01, 2002 to September 30, 2002 - Period II: October 16, 2002 to July 24, 2003 3. During Period I, a total of nine brokers had traded in PSIL and a total volume of 44,600 shares was generated. The investigation inter alia revealed that Neptune Securities Private Limited (hereinafter referred to as the ‘noticee’), a registered stock-broker at ASE, bearing SEBI Registration No. INB 020916635 had traded in the scrip of PSIL in large quantities on behalf of its clients and executed structured trades.
Page 3 of 5 manner as it deemed fit. A copy of the Enquiry Report was also forwarded to the noticee along with the SCN. 6. The noticee replied to the SCN vide its letter dated October 18, 2010. Before proceeding further, an opportunity of personal hearing was granted to the noticee on July 12, 2011. On the date fixed, Mr. Jignesh Shah, Director of the noticee and Mr. Nitin H. Parikh, a Practicing Company Secretary appeared on behalf of the noticee and made oral submissions.
Page 4 of 5 Date Sell Buy Qty. Broker Client Broker Client 27/03/2002 Ratnakar Neeta Soni Neptune Dilipbhai Soni 150 Neptune Dilipbhai Soni Ratnakar Neeta Soni 150 08/05/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 800 Ratnakar V.K. Jain Neptune Abhishek Khare 800 28/05/2002 Ratnakar V.K. Jain Neptune Abhishek Khare 2,850 Neptune Abhishek Khare Ratnakar V.K. Jain 2,850 29/05/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 1,450 Ratnakar V.K. Jain Neptune Abhishek Khare 1,450 03/06/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 1,500 Ratnakar V.K. Jain Neptune Abhishek Khare 1,500 04/06/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 800 Ratnakar V.K. Jain Neptune Abhishek Khare 800 06/06/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 400 Ratnakar V.K. Jain Neptune Abhishek Khare 400 11/06/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 600 Ratnakar V.K. Jain Neptune Abhishek Khare 600 28/06/2002 Neptune Abhishek Khare Ratnakar V.K. Jain 25 Ratnakar V.K. Jain Neptune Abhishek Khare 25
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Source: SecMarx — sebi:WTM/PS/54/IVD/ID-3/JAN/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.