Sebi Lets Off Edel­weiss in Al­leged Fraud Trade Case

The Economic Times - - Companies: Pursuit Of Profit -

Markets reg­u­la­tor has dis­posed of a com­plaint re­gard­ing al­leged unau­tho­rised trade ex­e­cuted by Edel­weiss Se­cu­ri­ties on be­half of its client in Parsv­nath De­vel­op­ers' shares in July 2012. In an or­der on Tues­day, the Se­cu­ri­ties and Ex­change Board of In­dia (Sebi) said “the no­ticee (Edel­weiss Se­cu­ri­ties) has ex­e­cuted trade on be­half of and un­der in­ti­ma­tion of its client Ga­jria”. “The trad­ing mem­ber has sub­mit­ted doc­u­ments that show elec­tronic con­tract note was de­liv­ered to the client well within the stip­u­lated time and same was ac­knowl­edged by the client through email from the reg­is­tered email ac­count and there has been no ob­jec­tion for unau­tho­rised trade raised by the client at stock ex­change or Sebi,” the reg­u­la­tor noted.


peo­ple fa­mil­iar with the mat­ter. The move comes three months af­ter US in­sur­ance com­pany MetLife Inc dropped the Peanuts char­ac­ters it had been us­ing as mas­cots for more than 30 years.

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