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February 03, 2006
PR No.
73/2006
Order against M/s. Active Finstock Pvt. Ltd., Member, BSE
Shri Madhukar, Whole Time Member, SEBI, has passed an order against M/s. Active Finstock Pvt. Ltd. (AFPL), Member, The Stock Exchange, Mumbai (BSE) under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 suspending certificate of registration of AFPL for a period of 45 days.
In the matter of M/s. Vision Technology India Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of SEBI (Stock Broker) Regulations 1992, SEBI (FUTP) Regulations 1995, and circular SMDRP/Policy/Cir-35/98 by AFPL. Enquiry officer submitted his report and observed that AFPL has violated code of conduct as laid down under Schedule II read with regulation 7 of Broker Regulations, and SEBI Circulars No.SEBI/SMD/Cir/93/23321 dated 18.11.93 and SEBI/Policy/Cir-35/98 dated 04.12.1998. Consequently, SEBI passed the order after considering the submissions made by
AFPL.
The order has been passed on January 25, 2006. The order shall come into force after the expiry of three weeks from the date of the order.
Mumbai
February 03, 2006
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