sebi:WTM/TCN/12/MIRSD/06/07
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Facts / Headnote
Suspension of certificate of registration as stock broker for a period of fifteen days, effective on expiry of twenty-one days from the order
Provisions invoked
- s. 19
- s. 12
Regulations
- Reg. 13(4)
- Reg. 13(2)
- Reg. 5
- Reg. 17
- Reg. 6(1)
Parties
- Emmkay Share & Stock Brokers Ltd, Member of Delhi Stock Exchange, INB 050987735
Holding
The Whole Time Member imposed a minor penalty of suspension of certificate of registration of M/s Emmkay Share and Stock Brokers Ltd (INB 050987735) for fifteen days, to come into force on expiry of twenty-one days from the order.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ In the matter of Emmkay Share & Stock Brokers Ltd, Member of Delhi Stock Exchange Jun 13, 2007 | Orders : Orders of Chairman/Members WTM/TCN/ 12 /MIRSD/ 06/07 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: Dr. T.C.NAIR, WHOLE TIME MEMBER IN THE MATTER OF EMMKAY SHARE & STOCK BROKERS LTD, MEMBER OF DELHI STOCK EXCHANGE, INB 050987735 Date of hearing : July 14, 2006 Appearances: For Noticees : Shri Lavkush Sharma 8223 24 9 1. 2. 3. 4. 5. 6. 7. 1
The EO has found that Emmkay had not maintained separate client account in accordance with SEBI circular no. SMD/SED/CIR/93/23321 November 18, 1993 and Byelaw no. 264A (1) of the Delhi Stock Exchange. A few instances in this regard are given below:- PNB Shakti Nagar – Client A/c Telephone Exp 22.4.2000 634765 1500.00 Service Tax 15.12.2000 642119 14175.00 Bank Charges 31.12.2000 JV-3112 25150.00 Installment for Car 16.02.2001 JV3-1602 9000.00 Installment for Car 16.02.2001 JV3-1403 9000.00
Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as “Enquiry Regulations”) to enquire into the alleged contravention observed during the inspection of books of accounts of Emmkay. 2.2 A show cause notice dated May 20, 2004 in terms of Regulation 6(1) of the Enquiry Regulations was issued to Emmkay. Vide letter dated July 12, 2004 Emmkay submitted its reply. An opportunity of personal hearing was given to Emmkay by the EO on October 25, 2004 wherein Shri Hari Om Maheshwari attended the hearing and made submissions. 2.3 The EO after completion of enquiry submitted his report dated November 30, 2004 and recommended a
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Source: SecMarx — sebi:WTM/TCN/12/MIRSD/06/07. 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.