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Adjudication Order in respect of Five Entities in the matter of Alacrity Securities Ltd.

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Court :
SEBI

Brief :
UNDER SECTION 15-I (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995

Citation :
ADJUDICATION ORDER: Order/MC/VS/2020-21/9099-9103

BEFORE THE ADJUDICATING OFFICER
SECURITIES AND EXCHANGE BOARD OF INDIA
[ADJUDICATION ORDER: Order/MC/VS/2020-21/9099-9103]
___________________________________________________________________

UNDER SECTION 15-I (2) OF SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 READ WITH RULE 5 OF SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995

In respect of -

1) Pooja Hemanshu Gupta [PAN: BBYPM2351J] having address at 101, Haridarshan B-Wing, Bhogilal, Phadia Road, Kandivali (East), Mumbai 400067

2) Odyssey Corporation Ltd. [PAN: AAACO0463C] having address at Shop No. 3, Hemu Castle, Dadabhai Road, Near Gokhlibai School, Vile Parle (West), Mumbai - 400056

3) Naysaa Securities Ltd. [PAN: AACCN6196R] having address at 102/104, Shivam Chambers, S.V. Road, Goregaon (W), Mumbai - 400062

4) Vikram Shares Stok Broking Pvt Ltd [PAN: AACCV7779E] having address at 102/104, Shivam Chambers, S.V. Road, Goregaon (W), Mumbai - 400062

5) Alacrity Securities Ltd. [PAN: AACCA0737D] having address at 101, Haridarshan B-Wing, Bhogilal, Phadia Road, Kandivali (East), Mumbai 400067

in the matter of Alacrity Securities Ltd.

BACKGROUND

1. Securities and Exchange Board of India (hereinafter referred to as 'SEBI') initiated adjudication proceedings under Section 15A (b), Section 15HA and Section 15HB of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as 'SEBI Act') against against Pooja Hemanshu Mehta ('Noticee No. 1'), Odyssey Corporation Ltd. ('Noticee No. 2'), Naysaa Securities Ltd. ('Noticee No. 3'), Vikram Shares Stock Broking Private Limited ('Noticee No. 4') and Alacrity Adjudication order in respect of five entities in the matter of Alacrity Securities Ltd. Securities Limited ('Noticee No. 5'), hereinafter together referred to as 'the Noticees', for the alleged violations of provisions of the SEBI Act, 1992 ('the SEBI Act') the SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, 2003 (hereinafter referred to as the 'PFUTP Regulations'), SEBI (Prohibition of Insider Trading) Regulations, 2015 (hereinafter referred to as the 'PIT Regulations 2015') and Clause A (2) in the Code of Conduct for Stock Brokers as specified under Schedule II read with Regulation 9 of SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (hereinafter referred to as the 'Broker Regulations').

APPOINTMENT OF ADJUDICATING OFFICER

2. The undersigned was appointed as Adjudicating Officer (hereinafter referred to as 'AO') under Section 15-I of the SEBI Act, 1992 ('SEBI Act') read with Rule 3 of the SEBI (Procedure for Holding Inquiry and Imposing Penalties) Rules, 1995 (hereinafter be referred to as the 'Adjudication Rules'), vide order dated December 13, 2019, to inquire into, and adjudge under Section 15A (b), Section 15HA and Section 15HB of the SEBI Act the aforesaid alleged violations.

3. The appointment of the undersigned as AO was communicated vide order dated December 31, 2019.

SHOW CAUSE NOTICE, REPLY AND HEARING

4. Show Cause Notice No. EAD5/MC/VS/2020/10681/1-5 dated May 28, 2020 (hereinafter referred to as 'SCN'), was issued to the Noticee Nos. 1 to 5, in terms of Rule 4 (1) of the Adjudication Rules read with Section 15-I of the SEBI Act, to show cause as to why an inquiry should not be held and penalty not be imposed against the Noticees in terms of Sections 15A (b), 15HA and 15HB of the SEBI Act, for the aforesaid alleged violations.

To read / download the full judgement, find the enclosed file

 

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on 23 September 2020
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