sebi:WTM/TCN/59/MIRSD/Sept/07
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Facts / Headnote
Censure imposed on Time Capital Ltd.
Regulations
- Reg. 4
- Reg. 13(4)
- Reg. 5(1)
- Reg. 13
- Reg. 17
- Reg. 26
- Reg. 6(1)
- Reg. 19
Parties
- Time Capital Ltd.
Holding
Time Capital Ltd. was held guilty of violating SEBI regulations and circulars, including installing trading terminals at unauthorized places and dealing with unregistered sub-brokers, and was ordered to be "Censured" as a penalty.
Full text
2 India Act, 1992 (hereinafter referred to as “the Act”) with registration number INB230771832. 1.2 During December 2002, SEBI conducted an inspection under Regulation 19 of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as the “Stock Brokers Regulations”) of the books of accounts, documents and other records maintained by TCL for the period from April, 2000 to December 27, 2002.
3 days from the receipt of the said notice. TCL was also advised to indicate as to whether it desired a personal hearing. TCL vide its letters dated December 15, 2003 and February 24, 2004 replied to the said show cause notice.
4 next hearing was fixed on August 10, 2006 at SEBI Head Office, Mumbai. Shri Ravikumar Varanasi, Advocate and Shri Manoj Mittal, General Manager, Time Capital Ltd. appeared and made submissions in brief. TCL vide its letter dated August 21, 2006 made further written submissions.
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Source: SecMarx — sebi:WTM/TCN/59/MIRSD/Sept/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.