June 03, 2009
PR No. 176/2009
Consent Order on the application submitted by Rajesh Jhaveri Stock Brokers Pvt. Ltd. in the matter of irregularities relating to IPOs
A Panel consisting of Whole Time Members, SEBI, Shri M.S. Sahoo and Dr. K.M. Abraham, has passed consent order on May 29, 2009 in the matter of �irregularities relating to the Initial Public Offerings (IPOs)" on an application submitted by Rajesh Jhaveri Stock Brokers Pvt. Ltd.
Rajesh Jhaveri Stock Brokers Pvt. Ltd. cornered the shares meant for retail individual investors in the IPO of National Thermal Power Corporation. Based on the findings SEBI had passed ad interim ex parte order dated April 27, 2006 directing applicant not to buy, sell or deal in securities market, including IPO�s, directly or indirectly till further directions. SEBI also initiated adjudication proceedings against the applicant and a show cause notice dated June 16, 2006 was issued by the Adjudicating Officer.
The applicant without admitting or denying the charges has remitted a total sum of Rs.6,32,370/- (Rupees six lakh thirty two thousand three hundred and seventy only) comprising Rs.5,26,975/- (Rupees five lakh twenty six thousand nine hundred and seventy five only) towards disgorgement and Rs.1,05,395/- (Rupees one lakh five thousand three hundred and ninety five only) towards settlement charges.
Mumbai
June 03, 2009
|
