sebi:WTM/RKA/ERO/43/2013
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Certificate of registration suspended for a period of three months, effective on expiry of twenty one days from the date of the order.
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 4(2)
- Reg. 28(2)
- Reg. 30
- Reg. 27
- Reg. 28(1)
- Reg. 13(1)
Parties
- Bubna Stock Broking Services Ltd. (now known as Sunbright Stock Broking Ltd.), member of Calcutta Stock Exchange Limited, Registration No. INB 030707632
Holding
The noticee stock broker violated regulation 4(2)(a) and (e) of the PFUTP Regulations and clauses A(1)-(4) of the Code of Conduct for Stock Brokers, and its certificate of registration is suspended for three months.
Full text
Page 2 of 20 the Securities and Exchange Board of India (Stock Brokers and Sub-brokers) Regulations, 1992 (hereinafter referred to as the "Stock Broker Regulations") by the noticee.
Page 3 of 20 (c) Ashi and the Noticee (c) Vayudoot and the Company (d) Graceful and the Company Bubna and Shri Gopichand Banshal
Page 4 of 20 September 30, 2004, it was holding substantial shares of the Company. It is, therefore, observed that Ashi had acquired shares of the Company prior to the initial period of price rise through off market deals.
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Source: SecMarx — sebi:WTM/RKA/ERO/43/2013. 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.