sebi:WTM/TCN/MIRSD/65/12/06
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Facts / Headnote
Censure of the sub-broker; no monetary penalty or suspension imposed
Regulations
- Reg. 199
- Reg. 13(4)
- Reg. 5(1)
- Reg. 13(2)
- Reg. 200
- Reg. 15
- Reg. 6
Parties
- M/s. Nilesh Share Brokers Ltd.
Holding
The Whole Time Member censured M/s. Nilesh Share Brokers Ltd. for the irregularities found during inspection, declining to impose the 15-day suspension of registration recommended by the Enquiry Officer. The order came into force with immediate effect.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ ORDER UNDER REGULATION 13(4) OF SEBI (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002. 1.1 M/s. Nilesh Share Brokers Ltd., (hereinafter referred to as the ‘sub-broker’) is a sub-broker affiliated to HSE Securities Ltd., having SEBI Registration No. INS231141636 for tr NSE. 1.2 An Inspection of the Books of Accounts, Documents and other records maintained by the sub-broker was conducted by SEBI for the period 01.04.2001 to 16.06.2003. Du inspection certain irregularities were found to have been committed by the sub-broker. 2.1 An Enquiry Officer (hereinafter referred to as “EO”) was appointed vide order dated January 8, 2004 under Regulation 5(1) of SEBI (Procedure for Holding Enquiry by Enquiry and Imposing Penalty) Regulations, 2002 (hereinafter referred as the ‘said regulations’) to enquire into the alleged irregularities committed by the sub-broker which were o during the inspection. 2.2 A Show Cause Notice dated April 29, 2004 was issued to the sub-broker under Regulation 6 (1) of the said regulations. The sub-broker submitted its reply dated July 27, 2004 a requested for personal hearing before the EO. 2.3 The sub-broker was given an opportunity of personal Hearing before the EO on October 5, 2004. The sub-broker appeared for the hearing on the said date. The EO condu enquiry in accordance with the terms of the said regulations and the sub-broke
Date: December 06, 2006 Whole Time Member Securities and Exchange Board of India 28/10/2025, 11:57 about:blank about:blank 2/2
EO conducted the enquiry in accordance with the terms of the said regulations and the sub-broker was given a fair and reasonable opportunity to make its
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Source: SecMarx — sebi:WTM/TCN/MIRSD/65/12/06. 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.