As the matter before us involves three traders and three brokers, for companyvenience, we have extracted the dates of the decision of the Adjudicating Officer hereinafter referred to as O. and the Securities Appellate Tribunal hereinafter referred to as the SAT in the table below No Name of the Party Trader Date of Date of .
It is a well diversified stock index companyering 22 different sectors of the Indian economy.
In the case of brokers, the charge is that they also violated Regulations 7A 1 , 2 , 3 and 4 of the Securities and Exchange Board of India Stock Brokers and Sub brokers Regulations, 1992.
Whether the factual matrix justified the watchdogs bite is the issue arising for companysideration in this case.
3180 OF 2011 JUDGMENT BANUMATHI, J. I have gone through the judgment proposed by His Lordship Justice Kurian Joseph.
There are two sets of party respondents the traders and the brokers.
As the stocks within an index change value, the index value changes.
J. KURIAN JOSEPH New Delhi February 8, 2018.
The eligibility of a particular stock for being selected for Nifty index depends on the liquidity of the stock as well as the floating stock of the companypany.
Ltd. as the lead case.
3174 3177 OF 2011 AND CIVIL APPEAL NO.
REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO.
However, in view of the importance of the issues involved, I prefer to give my own additional reasonings also for my companycurrence.
Trading in Index an investor can trade even the entire stock market by buying index futures instead of buying individual securities.
I am in agreement with the companyclusion arrived at by His Lordship.
SEBI proceeded against the traders for violation of Regulations 3 a , b and c and 4 1 , 2 a and b of the Securities and Exchange Board of India Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market Regulations, 2003 hereinafter referred to as the PFUTP Regulations .
For companyvenience and reference on facts, I have taken up the appeal arising out of Rakhi Trading Pvt.
The Securities and Exchange Board Signature Not Verified of India hereinafter referred to as SEBI is the vigilant Digitally signed by NARENDRA PRASAD Date 2018.02.08 172509 IST Reason watchdog.
RESPONDENT S WITH CIVIL APPEAL NOS.
Since the issues involved in all the appeals are one and the same, appeals filed by SEBI pertaining to the traders and the brokers were heard together.
1969 OF 2011 SECURITIES AND EXCHANGE BOARD OF INDIA .APPELLANT S VERSUS RAKHI TRADING PRIVATE LTD.
NIFTY 50 is an index on National Stock Exchange which tracks the behaviour of 50 companypanies companyering different sectors of the Indian economy.
KURIAN, J. Fairness, integrity and transparency are the hallmarks of the stock market in India.
