Scribd Logo
Upload

Welcome to Scribd!

  • 19 views

    Investment 1

    Uploaded by

    hiranyam
    According to Section 11(D) of the SEBI Act, SEBI may issue a cease and desist order to any person who has violated or is likely to violate any SEBI rules or regulations. This power does not apply to listed public companies unless SEBI reasonably believes the company engaged in insider trading or market manipulation. The case discusses a cease and desist order issued to Shri Lalit Dua for alleged violations. The order also notes Samtex company did not disclose transactions as required under insider trading regulations. SEBI has power to make regulations to implement the Act regarding maintaining records, issuing commencement certificates, surrendering security certificates, and eligibility for securities admission in depositories.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Investment 1

    Uploaded by

    hiranyam
    19 views2 pages
    According to Section 11(D) of the SEBI Act, SEBI may issue a cease and desist order to any person who has violated or is likely to violate any SEBI rules or regulations. This power does not apply to listed public companies unless SEBI reasonably believes the company engaged in insider trading or market manipulation. The case discusses a cease and desist order issued to Shri Lalit Dua for alleged violations. The order also notes Samtex company did not disclose transactions as required under insider trading regulations. SEBI has power to make regulations to implement the Act regarding maintaining records, issuing commencement certificates, surrendering security certificates, and eligibility for securities admission in depositories.

    Original Title

    investment 1.docx

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    According to Section 11(D) of the SEBI Act, SEBI may issue a cease and desist order to any person who has violated or is likely to violate any SEBI rules or regulations. This power does not apply to listed public companies unless SEBI reasonably believes the company engaged in insider trading or market manipulation. The case discusses a cease and desist order issued to Shri Lalit Dua for alleged violations. The order also notes Samtex company did not disclose transactions as required under insider trading regulations. SEBI has power to make regulations to implement the Act regarding maintaining records, issuing commencement certificates, surrendering security certificates, and eligibility for securities admission in depositories.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views2 pages

    Investment 1

    Uploaded by

    hiranyam
    According to Section 11(D) of the SEBI Act, SEBI may issue a cease and desist order to any person who has violated or is likely to violate any SEBI rules or regulations. This power does not apply to listed public companies unless SEBI reasonably believes the company engaged in insider trading or market manipulation. The case discusses a cease and desist order issued to Shri Lalit Dua for alleged violations. The order also notes Samtex company did not disclose transactions as required under insider trading regulations. SEBI has power to make regulations to implement the Act regarding maintaining records, issuing commencement certificates, surrendering security certificates, and eligibility for securities admission in depositories.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Cease and Desist Proceedings.

    According to Sec 11(D) of SEBI Act,1992,If the Board finds, after causing an inquiry to be
    made, that any person has violated, or is likely to violate, any provisions of this Act, or any rules
    or regulations made thereunder, it may pass an order requiring such person to cease and desist
    from committing or causing such violation: Provided that the Board shall not pass such order in
    respect of any listed public company or a public company (other than the intermediaries
    specified under section 12) which intends to get its securities listed on any recognised stock
    exchange unless the Board has reasonable grounds to believe that such company has indulged in
    insider trading or market manipulation.]

    Case Law:- InShri Lalit Dua 1 case the interest of the investing public, before things become
    intractable. therefore, in exercise of the powers delegated upon me by sebi board in terms of
    section 19 of the securities and exchange board of india act 1992 read with section 11b, 11(4)(b)
    and 11d, i hereby, pending investigation and passing of final order, by way of ad interim, ex-
    parte order, direct shri lalit dua to ..... cease and desist from giving any recommendations about
    any investment in the securities market in any public media which amounts to violation of
    regulation ..... , if any, to this order within 15 days from the date of this order and, if they so
    desire, avail themselves of an opportunity of personal hearing at the securities and exchange
    board of india, head office, first floor, mittal court b wing, nariman point, mumbai on a date and
    at a time to be fixed on a specific request, to be ..... future.further it is also noted that the
    company - samtex does not seems to have disclosed the transactions by consolidated securities
    ltd to the exchange which is mandatory under the sebi (prohibition of insider trading)
    regulations, 1992...

    Power of Board to make regulations

    (1) Without prejudice to the provisions contained in section 30 of the Securities and
    Exchange Board of India Act, 1992, the Board may, by notification in the Official
    Gazette, make regulations consistent with the provision of this Act and the rules made
    thereunder to carry out the purposes of this Act.

    (2) In particular, and without prejudice to the generality of the foregoing power, such
    regulations may provide for -
    (a) the form in which record is to be maintained under clause (i) of sub-section (1)
    of section 2;
    (b) the form in which the certificate of commencement of business shall be issued
    under sub-section (2) of section 32;

    1
    Shri Lalit Dua and his Associates V/S Securities Appellate Tribunal,2006
    2
    ‘Establishment and incorporation of Board’
    (c) the manner in which the certificate of security shall be surrendered under sub-
    section (1) of section 63;
    (d) the manner of creating a pledge or hypothecation in respect of security owned
    by a beneficial owner under sub-section (1) of section 124;
    (e) the conditions and the fees payable with respect to the issue of certificate of
    securities under sub- section (3) of section 145;
    (f) the rights and obligations of the depositories, participants and the issuers under
    sub-section (1) of section 176;
    (g) the eligibility criteria for admission of securities in the depository under sub-
    section (2) of section 17.

    3
    ‘Removal of member from office’
    4
    ‘Registration of stock brokers, sub-brokers, share transfer agents, etc’
    5
    ‘ Fund’
    6
    ‘Power of Central Government to supersede the Board’

    You might also like