Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

SEBI Slaps Rs 25 Lakh Fine on 3 for Violating Stock Brokers Norms

During the examination, SEBI found that one accused through brokers had executed 421 self trades leading to false and misleading appearance of trading in the scrip.

PTI

Updated:December 3, 2018, 11:12 PM IST
facebookTwitterskypewhatsapp
SEBI building
File photo of SEBI building.
Loading...

New Delhi: Markets regulator SEBI on Monday imposed a fine of Rs 25 lakh on three entities for indulging in fraudulent trades in the scrip of AGC networks and violating stock brokers norms.

The three entities are Nirshilp Securities, Shailesh Shah Securities and Nirpan Securities.

The Securities and Exchange Board of India (SEBI) had conducted a probe into the trading of scrip of AGC from March to August 2012.

During the examination, SEBI found that Nirshilp through brokers (Nirpan and Shailesh) had executed 421 self trades leading to false and misleading appearance of trading in the scrip.

Further, Nirpan and Shailesh as brokers failed to carry out their business according to the code of conduct for stock brokers and their lack of vigilance led to creation of fictitious and deceptive trading, the regulator said.

By executing self trades, Nirshilp violated PFUTP (Prohibition of Unfair and Fraudulent Trade Practices) while Nirpan and Shailesh contravened Stock Brokers Regulations.

Accordingly, SEBI fined Nirshilp Securities and Shailesh Shah Securities Rs 10 lakh each while Rs 5 lakh penalty was imposed on Nirpan Securities

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
HDFC 2,049.30 3.78
Maruti Suzuki 6,591.95 10.39
ICICI Bank 417.50 7.99
HDFC Bank 1,199.60 8.95
Reliance 1,254.35 6.39
Company Price Change %Gain
Astral Poly Tec 1,213.70 5.25
HDFC 2,052.10 3.92
SBI Life Insura 815.85 1.73
Zee Entertain 301.10 -2.49
Maruti Suzuki 6,585.25 10.89
Top Gainers
Company Price Change %Gain
Eicher Motors 17,860.20 13.38
Hero Motocorp 2,862.90 13.06
IndusInd Bank 1,419.60 10.71
UltraTechCement 4,269.65 10.43
Maruti Suzuki 6,591.95 10.39
Company Price Change %Gain
Hero Motocorp 2,866.50 13.19
Maruti Suzuki 6,585.25 10.89
IndusInd Bank 1,419.60 10.74
Bajaj Finance 3,705.60 10.19
SBI 301.70 10.09
Top Losers
Company Price Change %Gain
Power Grid Corp 196.20 -2.46
Zee Entertain 301.40 -2.41
Infosys 805.00 -1.91
TCS 2,065.45 -1.74
NTPC 119.85 -1.52
Company Price Change %Gain
Power Grid Corp 196.35 -2.39
Infosys 805.10 -1.94
TCS 2,065.60 -1.74
NTPC 119.90 -1.52

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results