sebi:WTM/TCN/34/IVD1/AUG/08
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Direction to Lagan Fincap Leasing Ltd. to be careful in future and exercise due skill, care and diligence as a capital market intermediary, with warning that future violations will be dealt with stringently; no monetary penalty imposed
Provisions invoked
- s. 19
Regulations
- Reg. 13(2)
- Reg. 13
- Reg. 5
Parties
- Lagan Fincap Leasing Ltd.
Holding
Lagan Fincap Leasing Ltd., sub-broker affiliated to Bonanza Stock Brokers Ltd., was found to have failed in due skill, care and diligence under the Code of Conduct and was directed to be careful in future, with warning of stringent action for any future violation.
Full text
Impex Ltd., Trans Fiscal Pvt. Ltd., Gaurang G Patel, Samir D Patel, Paresh Champaklal Shah, Umit Vinodbhai Patel and Sudhirbhai Shah.
4.1 I have carefully examined the investigation report, show cause notice, reply of Lagan Fincap and my findings are as under:
4.6 I note that the Enquiry Officer has found no charge against the client, Shri Sudhirbhai Shah of being connected to the company or in any way related to the other clients who were dealing in the scrip. I find that there is no material or evidence to suggest that Shri Sudhirbhai Shah was neither connected / related to the company / its promoters / directors nor to others who traded in the scrip.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/TCN/34/IVD1/AUG/08. 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.