sebi:WTM/TCN/104/IVD1/Jan/09

SEBI · SEBI · 2005-11-30 · Dr. T.C. Nair, Whole Time Member

Reviewed by Varun Matlani, Advocate — Securities Lawyer practicing in SAT and SEBI

Facts / Headnote

Censure imposed on Vijay Growth Financial Services Ltd.

Provisions invoked

Regulations relied on

Parties

Holding

The Whole Time Member censured Vijay Growth Financial Services Ltd. for dealing with an unregistered sub broker (Subecha Securities), directing it to be careful in future conduct as a capital market intermediary.

Full text

2 Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as “Enquiry Regulations”) and submitted his report dated November 30, 2005 recommending ‘Censure’ to VGF.

3 certificate of registration obtained from the Board in accordance with the regulations made under this Act.” Apart from the above, I note that circular dated March 31, 1997 inter alia states as under :

4 4.4 After perusing the material available on record, I note that VGF has been under winding up and therefore the show cause notices were handed over to the Official Liquidator. From the enquiry report, I find that the Official Liquidator of VGF has not replied to the show cause notices issued to VGF.

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Source: SecMarx — sebi:WTM/TCN/104/IVD1/Jan/09. 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.