S.P.J. Stock Brokers Pvt. Ltd.

4 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Adjudication Officer's monetary penalty upheld
Appeal partly allowed, penalty reduced from Rs 22 lakh to Rs 14 lakh
Reduced penalty to be paid to SEBI, no order on costs
Adjudicating Officer order imposing Rs 10 lacs penalty upheld

SAT-appeal

Failure by a stock broker to exercise due skill, care and diligence by executing five trades for Hakeem Auto Ltd. after it had been debarred from accessing the securities market.
Appeal No. 26 of 2009 dismissed · Adjudication Officer's monetary penalty upheld
Appeal: Appeal No. 26 of 2009 decided and dismissed on 25 September 2009.
Circular trading in securities market
Appeal partly allowed, penalty reduced from Rs 22 lakh to Rs 14 lakh · Reduced penalty to be paid to SEBI, no order on costs
Appeal: Appeal No. 251 of 2018 partly allowed by SAT on 11.06.2019
Alleged synchronized trades with one group in Adani Exports Ltd. to create artificial volume and demand violating PFUTP and Broker Regulations.
Adjudication order dated February 8, 2013 quashed and set aside · Appeal allowed with no order as to costs
Appeal: Appeal No. 52 of 2013 allowed by SAT decision dated 04.09.2013 (reserved on 26.08.2013)
Executed trades in Advik Laboratories Limited to create artificial volumes leading to manipulation of scrip price through fictitious synchronized trades.
Appeal dismissed · Adjudicating Officer order imposing Rs 10 lacs penalty upheld
Appeal: Appeal No. 27 of 2009 decided on 25.09.2009 - dismissed

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Source: SecMarx — S.P.J. Stock Brokers Pvt. Ltd.. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.