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January 16, 2006
PR No.
30/2006
Order against M/s. Veekrant Stocks and Finance Pvt. Ltd.
Shri Madhukar, Whole Time Member, SEBI, has passed an order on January 10, 2006 against M/s. Veekrant Stocks and Finance Private Limited (VFPL), Member of The Stock Exchange, Mumbai under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 directing the broker to exercise greater care in dealing in securities in future.
In the matter of Sawaca Communications Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of SEBI (Stock Broker) Regulations by VFPL. Enquiry officer submitted his report and observed that VFPL has violated Clause A(2) of the code of conduct as laid down under Schedule II read with regulation 7 of Broker Regulations. Consequently, SEBI passed the order after considering the submissions made by VFPL.
Mumbai
January 16, 2006
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