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February 06, 2006
PR No.
77/2006
SEBI censures M/s. Vyomit Shares Stock and Investment Private Limited
Shri Madhukar, Whole Time Member, SEBI, has passed an order against M/s. Vyomit Shares Stock and Investment Private Limited (VSSIPL), Member, The Stock Exchange, Mumbai (BSE), under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 censuring VSSIPL.
In the matter of M/s. Sawaca Communications Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of the Code of Conduct for Stock Brokers prescribed in Schedule II of Regulation 7 of SEBI (Stock Brokers and Sub-brokers) Regulations, 1992, by VSSIPL. Enquiry officer submitted his report and observed that VSSIPL 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 SEBI passed the order after giving VSSIPL sufficient opportunity to present its reply, in satisfaction of the principles of natural justice.
The order has been passed on January 31, 2006
Mumbai
February 06, 2006
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