sebi:WTM/SM/IVD/ID10/19211/2022-23
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Facts / Headnote
Proceedings abated due to death of the Noticee
Provisions invoked
- s. 19
- s. 12
Regulations
- Reg. 7
- Reg. 3
- Reg. 4
- Reg. 4(1)
- Reg. 6
- Reg. 200
- Reg. 6(a)
- Reg. 13(1)
- Reg. 27(5)
- Reg. 26
- Reg. 25(1)
- Reg. 27(1)
- Reg. 38(2)
Parties
- Bharat J. Patel
Holding
The Noticee was found to have indulged in backdated and fictitious transactions in the scrip of GTL and issued fictitious contract notes, violating regulation 6(a) and 6(d) of the PFUTP Regulations, 1995 read with regulations 13(1) to 13(3) of the PFUTP Regulations, 2003 and Clauses A(1)-(5) of the Code of Conduct under Schedule II to regulation 7 of the Stock Brokers Regulations, 1992. However, the proceedings against the Noticee stand abated because the Noticee passed away on May 29, 2021.
Full text
__________________________________________________________________________________________ Final Order in respect of Bharat J. Patel in the matter of fictitious transactions in the scrip of Global Telesystems Limited Page 2 of 21
__________________________________________________________________________________________ Final Order in respect of Bharat J. Patel in the matter of fictitious transactions in the scrip of Global Telesystems Limited Page 3 of 21
__________________________________________________________________________________________ Final Order in respect of Bharat J. Patel in the matter of fictitious transactions in the scrip of Global Telesystems Limited Page 4 of 21
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Source: SecMarx — sebi:WTM/SM/IVD/ID10/19211/2022-23. 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.