https://www.taxtmi.com/caselaws?id=284231 Proven irregularities in securities operations, including delayed delivery, non-segregation of client and own funds, off-market transactions and dealings with an unregistered sub-broker, were treated as operational lapses rather than serious misconduct. The Tribunal held that the contraventions, viewed in the context of the initial business period and subsequent rectification, were technical in nature and did not justify closure of business through suspension of registration. A six-month suspension was found disproportionate, and the penalty was reduced to a warning. The appellate challenge succeeded to that extent, with the major punitive order set aside and replaced by a lesser sanction. en-us Tue, 31 Aug 2004 00:00:00 +0530 Thu, 07 Nov 2019 16:21:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284231 Proven irregularities in securities operations, including delayed delivery, non-segregation of client and own funds, off-market transactions and dealings with an unregistered sub-broker, were treated as operational lapses rather than serious misconduct. The Tribunal held that the contraventions, viewed in the context of the initial business period and subsequent rectification, were technical in nature and did not justify closure of business through suspension of registration. A six-month suspension was found disproportionate, and the penalty was reduced to a warning. The appellate challenge succeeded to that extent, with the major punitive order set aside and replaced by a lesser sanction. Case-Laws SEBI Tue, 31 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284231