June 19, 2007
PR No. 194/2007
Order against sub broker M/s. Allwin Securities Ltd. in the matter of
M/s. Gujarat Fiscon Ltd.
Dr. T.C.Nair, Whole Time Member, SEBI, has passed an order dated June 14, 2007, imposing penalty of censure against M/s. Allwin Securities Ltd., Sub-broker to M/s. Joindre Capital Services Ltd., Member of Bombay Stock Exchange Ltd. (BSE).
The Sub-broker has been found to have violated Clause A (2) of the Code of Conduct for sub brokers, as specified in Schedule II of Regulation 15 of the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992. Therefore, the Sub-broker has been censured to the effect that the broker should be careful in future and exercise due skill, care and diligence in the conduct of his affair as a capital market intermediary. The Sub-broker has also been directed to note that any instances of violation or non-compliance with the SEBI Act and Rules and Regulations in future shall be dealt with stringently.
Mumbai
June 19, 2007
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