Sebi Lets Off Edelweiss in Alleged Fraud Trade Case
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.