sebi:WTM/TCN/131/IVD1/Jan/09
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Warning/direction to be careful in future; penalty enhancement rejected; enquiry officer's recommended penalty of warning upheld
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 13(2)
- Reg. 4(a)
- Reg. 199
- Reg. 28(2)
- Reg. 13(5)
Parties
- M/s Networth Stock Broking Ltd
Holding
The broker, M/s Networth Stock Broking Ltd, was found to have failed to exercise due skill, care and diligence in conduct of its business in violation of Regulation 7 read with Clause A(2) of the Code of Conduct, and was directed to be careful in future with a warning; SEBI declined to enhance the penalty beyond that recommended by the Enquiry Officer.
Full text
2 related/connected to each other traded significantly for approximately 75% of the total trades in the scrip on BSE through 14 member broker/sub brokers .
3 Regulations. The enquiry officer submitted his report dated March 9, 2005 recommending a minor penalty of warning to the broker.
4 Goda. After November, 2002, the company has not done any transactions of any kind whatsoever for the said Indumati U Goda.
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Source: SecMarx — sebi:WTM/TCN/131/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.