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February 15, 2006
PR No.
90/2006
Order against M/s. Biswanath M Jhunjhunwala, Member, BSE
Securities and Exchange Board of India (SEBI) has passed an order against M/s. Biswanath M Jhunjhunwala (BMJ), Member, Bombay Stock Exchange (BSE) under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 suspending certificate of registration of BMJ for a period of four months.
In the matter of M/s. Snowcem India Ltd., SEBI appointed an Enquiry Officer to enquire into the alleged violations of SEBI (Stock Broker and Sub-brokers) Regulations 1992, SEBI (FUTP) Regulations 1995, and Circular SMDRP/Policy/Cir-35/98 by BMJ. Enquiry officer submitted his report and observed that BMJ has violated A(1) to A(4) of the code of conduct as laid down under Schedule II of Regulation 7 of (Stock Broker and Sub Brokers) Regulations 1992, Regulation 4(a) (b) and (d) of SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations 1995 and SEBI Circular No.SEBI/SMDRP/POLICY/Cir-35/98 dated 04.12.1998. Consequently, SEBI passed the order after considering the submissions made by
BMJ.
The order has been passed on February 02, 2006. The order shall come into force after the expiry of three weeks from the date of passage of the order.
Mumbai
February 15, 2006
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