Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Nov-05-2003
..... considerate view that a minor penalty of two months would suffice in the matter.17. therefore, in exercise of the powers conferred upon me by section 19 of sebi act, 1992 read with sub-regulation (4) of regulation 13 of the said regulations, i hereby suspend the certificate of registration of m/s shriyam ..... the regulation binding on merchant bankers is securities and exchange board of india (merchant bankers) regulations, 1992.15.1.3 sebi had also issued under section 11 of the act, the sebi (disclosure and investors protection) guidelines, providing extensive guidelines to be followed for accessing the market. the guidelines are quite exhaustive from the disclosure ..... by the enquiry officer while making the recommendation of penalty. shriyam further submitted that the enquiry officer failed to appreciate the factors laid down in section 15j of the sebi act particularly that (a) no gain or advantage was received by the merchant banker; (b) no loss has been caused to investors or group of .....
Tag this Judgment!Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Dec-09-2003
..... .8.1 in the light of the aforesaid findings i, in exercise of the powers conferred on me as member of the board, in terms of section 19 of the sebi act 1992 read with regulation 13(4) of the enquiry procedure regulations, hereby hold that hsbc securities and capital market (india) pvt. ltd., as merchant ..... sebi accepts the position that the acquirers had duly fulfilled all their obligations without any remaining outstanding. in these circumstances, it is impossible to hold that hsbc acted negligently without ensuring that the acquirers had fulfilled their obligations.5.19 it may be noted that by an order dated 28th november 2002 the securities appellate tribunal ..... by the merchant banker. the obligation in respect of other shareholders for 15, 31,451 shares were not informed to the court.3.5 hsbc securities has acted negligently and caused the release of the balance amount from the escrow account to the acquirers without ensuring that the acquirer has complied with all the provisions of .....
Tag this Judgment!Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT
Decided on : Dec-09-2003
..... or any illegal trading. hence, there is no question of seriously jeoparding the safety and integrity of the market. the noticee has not violated provision of section 19 of sc ( r ) act. the evidence collected and sought to be relied are neither authentic / official documents nor do they belong to the noticee. the noticee denies that he ..... law, pursuant to several decision of securities appellate tribunal, that there has to be a nexus between the alleged acts of omission and commission and the measures adopted by sebi inform of directions under section 11 of sebi act. 8. the noticee states that the penalty that is sought to be imposed is an extremely harsh penalty and ..... . the noticee states that he is not guilty of conduct which is contumacious or dishonest or has acted in conscious disregard of the regulation or any norm. the notice respectfully submits that he has not violated sec. 12 of sebi act, 1992. 3. the noticee states that the penalty of debarring him from dealing in securities in .....
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