sebi:WTM/VKC/ID6/33/07
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Facts / Headnote
Show cause notice disposed of without imposing any penalty or direction
Provisions invoked
- s. 19
Regulations
- Reg. 4
- Reg. 7
- Reg. 13(4)
- Reg. 6
- Reg. 4(b)
Parties
- Dalmia Securities (P) Ltd.
Holding
The Whole Time Member found that the Broker had not violated Regulation 4(b) and (c) of the PFUTP Regulations or Regulation 7 read with Section A(3) and (4) of the Code of Conduct under the Stock Brokers Regulations, and disposed of the show cause notice without imposing any penalty.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order No.WTM/VKC/ID6/33/07 DATE OF HEARING 28.09.2006 APPEARANCES FOR COMPANIES/ BROKERS: FOR SEBI
4.0 HEARING 4.1 In their reply to show cause notice, the Broker requested for personal hearing. The Broker was accordingly advised to attend the personal hearing before me at Head Office SEBI at Mumbai on S 28, 2006, which he attended along with his Advocates, when they filed written submission dated September 28, 2006. Therefore, I am proceeding in the matter on the basis of the submissi Broker and the material before me.
the major spurt in price and volumes traded in the Exchanges particularly on the Stock Exchange, Mumbai (BSE), National Stock Exchange (NSE) and Calcutta Stock Exchange (CSE). 1.3 The Board after considering Investigation Report, appointed an Enquiry Officer vide Order dated November 27, 2002 to enquire into the violations allegedly committed by the Broker under the provisions of the Regulation 7, read with schedule II, clause A(3) and (4) of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to in short as “Stock Brokers Regulation”) and the provisions of Regulation 4 (a),(b),(c) and (d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to the Securities Market) Regulations, 1995 (hereinafter referred to in short as “PFUTP Regulations”) and Rules, Regulations and Byelaws of Stock Exchanges. 1.4 The Enquiry Officer, after conducting an enquiry in accordance with the provisions of Regulation 6 of the Securities and Exchange Board of India (Procedure for holding Enquiry by Enquiry Officer and imposing penalty) Regulations, 2002 (hereinafter referred to as ‘the Enquiry Regulations’), submitted a report dated December 23, 2003 wherein he observed that the Broker has violated the provisions of SEBI circular No.SMDRP/ POLICY/CIR-32/1999 dated September 14, 1999; Regulation 7 read with clause A(3) and (4) of Code of Conduct as specified in Schedule II of Stock Brokers Regulations, and Regulation 4(b) & (c) of PFUTP Regulations. He r
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Source: SecMarx — sebi:WTM/VKC/ID6/33/07. 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.