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January 24, 2006
PR No.
45/2006
Order against M/s. Prabhudas Lilladher Pvt. Ltd., Member, BSE
Shri Madhukar, Whole Time Member, SEBI, has passed an order on January 18, 2006 against M/s. Prabhudas Lilladher Private Limited (PLPL), Member of The Stock Exchange, Mumbai under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, censuring the broker.
In the matter of Sawaca Communications Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of SEBI (Stock Broker and Sub-brokers) Regulations by PLPL. Enquiry officer submitted his report and observed that PLPL has violated the Code of Conduct for Stock Brokers prescribed in Schedule II of Regulation 7 of SEBI (Stock Brokers and Sub-brokers) Regulations, 1992. Consequently, SEBI passed the order after considering the submissions made by PLPL.
Mumbai
January 24, 2006
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