sebi:WTM/PS/76/IVD/ID-04/FEB/2011
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Facts / Headnote
Warning issued to the noticee; no further penalty imposed
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 4
- Reg. 5(1)
- Reg. 13(2)
- Reg. 13(1)
- Reg. 4(b)
- Reg. 28(2)
- Reg. 38(2)
Parties
- Ms. Aditi Asim Dalal
Holding
The noticee was found to have acted in a manner detrimental to the interest of the securities market in violation of Regulation 4(b), (c) and (e) of the PFUTP Regulations, but since she had already been penalized by SEBI for the same set of trades, no further penalty was imposed and the proceedings were disposed of by issuing a warning.
Full text
Page 2 of 7 touching a high of `5,550 on June 4, 2001. The total traded quantity on NSE for the period of investigation was 1,978 shares.
Page 3 of 7 provisions of Regulation 4 (b), (c) and (e) of PFUTP Regulations and Clauses A(1), (2), (3) and (4) of the Code of Conduct prescribed for Stock Brokers in Schedule II under Regulation 7 of the Broker Regulations.
Page 4 of 7 a. It was involved in raising finance for the group associates CFL and Tropical with a view to arrange temporary funding to meet NSE/ BSE pay-in obligations from time to time. b. It had no intention at any point of time to create artificial volumes and to make any benefit out of it. c. Volumes were created unintentionally and due to the repeated transaction done for the purpose of funding. d. They are passing through severe hardships, bearing heavy losses and out of the business for about three years. e. Since the noticee has been penalized by SEBI in the same case and same set of transactions of Ravalgaon and Shrenuj for six months as per SEBI
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Source: SecMarx — sebi:WTM/PS/76/IVD/ID-04/FEB/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.