Judgment Search Results Home > Cases Phrase: finance no 2 act 2004 Sorted by: old Court: sebi securities and exchange board of india or securities appellate tribunal sat Page 1 of about 296 results (0.191 seconds)

Sebi Vs. Pawankumar Parmeshwarlal

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... the enquiry officer found that the alleged transactions were in the nature of finance deal and that the clients of the broker had acted in concert with the clients of other members and had created artificial volumes in the scrip and these transactions were fictitious in nature.the method and manner of purchase of huge number of shares in the ..... established and the facts and circumstances of the case, had recommended a major penalty of suspension of certificate of registration of the broker for a period of four months.3.1 a show cause notice (hereinafter referred to as "scn") dated 18.08.2004 was issued to the broker along with the copy of the enquiry report, calling upon to show cause, in terms of regulation 13(2) of the said regulations, as to why action as recommended by the enquiry officer should not be taken ..... hearing in the matter.5.1 i have considered the facts of the case, the findings of the enquiry officer and the reply of the broker to the show cause notice.since i have considered the broker's reply dated 09.09.2004, i am, therefore, convinced that the principles of natural justice have been complied with and there is no need to grant personal hearing in the matter.5.2 i observe that there was sudden spurt in volumes traded in ..... the broker vide reply dated 09.09.2004 submitted that he had complied with the said provision and in support thereto attached annexure - d containing a statement showing details of the payment made for spot purchase of 15,000 shares of vbf for .....

Sparkline Mercantile Co Pvt. Ltd Vs. Securities and Exchange Board of ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... it was observed from the form no.3cd statement of particulars required to be furnished under section 44ab of the income tax act, 1961 in the assessment year 2004-05 that vandu caplease pvt. ..... had received rs.50 lacs from adhunik finance private ltd. ..... adhunik finance in its reply dated march 10, 2008 admitted that it had given rs.50 lacs to vandu caplease pvt. ..... the bse investigation report had also mentioned that adhunik finance pvt. ..... and adhunik finance pvt. .....

Indian Finance Guaranty Ltd. and Vs. Securities and Exchange Board of ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2005)59SCL528SAT

..... as under: "hence after taking into consideration the above mentioned facts and circumstances of the case, in exercise of the powers conferred upon me under section 4(3) of the sebi act, 1992, read with sections 11 and 11b of the sebi act, 1992, i hereby direct that indian finance guaranty limited, member of national stock exchange (sebi registration number- inb230880637) and member of octcei (sebi registration number inb200591231) be prohibited from buying, selling or otherwise dealing in ..... far as the appellants are concerned, they have been kept under suspension on the basis of this open ended enquiry since 2002 and a further order has been passed in 2004 saying that the enquiry will continue and pending enquiry the appellants have been directed not to associate with the market.14. ..... is not known whether it is permissible to have an open-ended enquiry from 29th of october 2002 and continue with the enquiry by a fresh order dated 16th of january 2004 and all the time barring the appellants from having access to the market pending enquiry.10. ..... orders u/ss.11 and 11b of the sebi act, one dated 29th of october 2002 and the other dated 16th of january 2004, are purportedly passed pending enquiry u/ss. ..... 76 of 2004 has been filed by indian finance guaranty ltd. ..... and 11b of the act.this order dated 16th january 2004 is impugned in these ..... the sebi passed a further order on 16th of january 2004 both against the company as well as against the director on identical terms once again purportedly .....

Sebi Vs. Indian Finance Guaranty Limited

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... the exchange failed to furnish distinctive numbers of shares of ril purported to have been delivered to the member for sale.4.3 the enquiry officer has observed that the hon'ble securities appellate tribunal in appeal nos.76 to 78 of 2004 filed by the said broker directed that while imposing a penalty sebi shall take into account the period of prohibition already undergone and also the penalties imposed on the co- delinquents of the appellants.based on the ..... in the course of inspection and to make a recommendation in terms of regulation 13 of the sebi (procedure for holding enquiry by enquiry officer and imposing penalty) regulations, 2002 (hereinafter referred to as the "enquiry regulations").4.2 a show-cause notice dated 25.6.2004 was issued to the said broker under regulation 6(1) of the enquiry regulations and the said broker filed a reply to the same ..... that the said broker has already undergone prohibition for close to two years, i find that no penalty needs to be imposed on the said broker.therefore, i, in exercise of the powers conferred upon me in terms section 4(3) of the sebi act and regulation 13(4) of the enquiry regulations do hereby direct that the proceedings against indian finance guaranty limited under the enquiry regulations shall stand terminated. .....

Sebi Vs. Jyotish Bhogilal Stock Brokers

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... i find that jbsbpl, having traded through plpl, for its clients shri parshwa finance, has acted as an unregistered sub-broker to plpl, had violated the provisions of sebi circular smd/policy/circular/3-97 dated 31st march,1997 and smd/policy/ ..... who again had traded on behalf of shri mahendra shah, there was nothing to establish their connection with shri parshwa finance, rajesh n.jhaveri and shri mahendra shah, in terms of their having had the knowledge of manipulation of the scrip ..... clause a(5) of schedule ii under regulation 7 of the sebi ( stock brokers and sub-brokers ) regulations,1992 which requires that " a stock broker shall abide by all the provisions of the act and the rules, regulations issued by the government, the board and the stock exchange from time to time as may be applicable to him. ..... per the provisions of securities and exchange board of india (procedure for holding enquiry by enquiry officer and imposing penalty) regulations, 2002 (hereinafter referred to as "the regulations"), submitted a report dated 30.01.2004, to sebi, with the recommendation that a penalty of cancellation of certificate of registration may be imposed on jbsbpl.9. ..... was also granted a personal hearing on 19.04.2004, on which date the broker appeared before ..... of the enquiry report, advising them to show cause as to why the penalty, as recommended by the enquiry officer, should not be imposed on them.jbsbpl submitted their replies vide letters dated 23rd march, 2004 and 29th march, 2004. ..... 2004 .....

Nnv Finance Ltd. Vs. Adjudicating and Enquiry

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2005)60SCL145SAT

..... sebi granted a personal hearing to the appellants and after granting extension sought by the appellant the personal hearing was held on january 22, 2004 wherein the appellant made submissions to the effect that they have not violated any provisions of the takeover code.5. ..... on december 3, 2003, sebi issued a show cause notice to the appellant as to why action under section 15a(b) of the sebi act should not be taken against them for violation of the provisions of regulation 7(1) of the takeover regulations. ..... taking into consideration the totality of the facts and circumstances of the case and taking all facts under section 15j of the act into consideration, we are of the view that no case is made out against the appellant. ..... subsequently the acquirer produced copy of letter dated february 3, 2004 of the stock exchange, mumbai wherein exchange confirmed receipt of letter from the acquirer dated 4/12/2002 on the same day informing that the acquirer company had acquired 5,35,500 equity shares of the target company on 2/12/ ..... the order dated june 8th, 2004 of the adjudicating officer, sebi passed against the appellant inter alia read as under: " i hereby impose a penalty of rs.4.00 lacs on the acquirer for violation of regulation 7(1) read with clause (b) of section 15a of the securities and exchange board of india act, 1992. ..... nnv finance ltd. ..... the appeal is against the impugned order dated june 8th, 2004 passed by the adjudicating officer, sebi under section 15t of the sebi act, 1992. .....

Tulsi D. Bhayana Vs. Chairman, Securities and

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... the operative portion of the order with regard to the company reads as follows: "therefore, i, in exercise of the powers conferred upon me in terms section 4(3) of the sebi act and regulation 13(4) of the enquiry regulations do hereby direct that the proceedings against indian finance guaranty limited under the enquiry regulations shall stand terminated. ..... the operative portion of the impugned order reads at paragraph 4 as follows: "therefore, in exercise of the powers conferred upon me under section 4(3) of the sebi act, 1992, read with sections 11 and 11b of the sebi act, 1992, i hereby direct that tulsi d. ..... it was submitted by the learned senior counsel for the appellant that the appellant was a director of indian finance guaranty ltd. ..... i also vacate the prohibition imposed on indian finance guaranty limited vide orders dated 29.10.2002 and 16.1.2004. ..... (ifgl) and that ifgl has been absolved by sebi on the same allegations by its order dated 22nd september 2004. .....

Nokia Finance International Vs. Securities and Exchange Board of India

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2005)64SCL155SAT

..... by not complying the summons of 10th december, 2003 and partially complying with the summonses of 19/02/2004 and 08/03/2004, nfi violated the provisions of section 11c(2) of sebi act, 1992 for which penalty is leviable under section 15a of sebi act, 1992.7. ..... the impugned order indicates that the various factors to be reckoned under section 15(j) of sebi act, 1992 were duly considered before deciding on the quantum of penalty imposed. ..... the adjudicating officer, in exercise of powers conferred under section 15i(2) of the sebi act, 1992 read with rule 5 of the sebi adjudication rules, imposed a penalty of rs. ..... the adjudicating officer issued a show cause notice dated 14/10/2004 to nfi communicating the allegations leveled against it and asking it why an enquiry in terms of the said rules should not be conducted against it. ..... therefore, in exercise of the powers conferred under section 15-i(2) of the sebi act, 1992, read with rule 5 of sebi adjudication rules, i hereby impose a penalty of rs. ..... the letter which was addressed to nfi confirmed that 4,82,72,451 shares of ael were transferred for sale in the account of nokia finance international pvt.ltd. ..... the investigation department of sebi issued three summonses to nokia finance international pvt. ..... 18,00,000/- (eighteen lacs only) on nokia finance international pvt. .....

In Re: Mega Corporation Ltd.

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

..... should have come from investment in shares when the company had specifically requested bse, vide its letter dated july 11, 2003, to make necessary change in bse website to change its major business activities from "finance and investment" to "service based activities".in contrast, in the two previous two years the major income of the company (75% in 2002-03 and 82% in 2003-04 ) was from the business of media & radio taxi services.2.9 since the ..... it is also observed that persons acting in concert hold 0.01% of the shareholding though their details have not been disclosed in the shareholding pattern filed by the company with bse.2.4 the board of directors of the company described in the annual report for the year 2004-05 are as follows: 2.5 it is evident from the quarterly shareholding pattern submitted to the stock exchanges that there was no substantial difference in the shareholding of the promoters whose shareholding was 50.55% for ..... 5.1 therefore, in exercise of the powers delegated to me by the sebi board in terms of section 19 of the securities and exchange board of india act 1992 read with section 11b and 11(4)(b), pending investigation and passing final order, i hereby issue the following directions, by way of ad interim, ex-parte order a) that the promoters of the company viz, crayons global finance ltd ..... 2002.2.3 according to the disclosures of shareholding pattern made by the company to the bse the promoter entities/individuals included crayons global finance ltd . .....

Indian Finance Guaranty Ltd. Vs. Securities and Exchange Board of Indi ...

Court : SEBI Securities and Exchange Board of India or Securities Appellate Tribunal SAT

Reported in : (2006)70SCL41SAT

..... the appeal has been preferred against the order of sebi dated 14th september, 2004, the operative portion of which reads as under: "therefore, i, in exercise of powers conferred upon me in terms of section 4(3) of the sebi act and regulation 16(5) of the enquiry regulations, i hereby cancel the certificate of registration hearing no. ..... 1911/2005/cp/ mdd/801 dated 31/08/2005 addressed to the director, indian finance guaranty limited, which reads as under: "sub: revocation of expulsion of indian finance guaranty ltd. ..... in response to the high court order otcei vide its letter dated 31/08/2005 has taken a decision for revocation of expulsion of indian finance guaranty limited, the appellant. ..... indian finance guaranty ltd as stock broker. ..... indian finance guaranty limited, the appellant, is a member of otc exchange of india and was registered as a stock broker with the securities exchange board of india. ..... as per summary procedure under regulation 16 sebi vide order dated 26/02/2004 read with order dated 27/02/2004 appointed an enquiry officer who submitted his report on 15/07/2004. ..... 2595/2004 the hon'ble division bench has, by its judgment dated 27/04/2005, struck down the action. .....