This is a case where the petitioner/applicant has alleged
unauthorized trading by the broker /respondent. Much is not
required to be looked into ... Exchange Board of India is in respect of Prevention of
Unauthorized Trading by Stock Brokers. It clearly says that -
"II. SEBI in the past
29th September 2011, claimant
lodged a claim with MCX regarding alleged unauthorized trading in her account
by the respondent. On 24 th October ... November 2011, the
claimant informed the respondent of further unauthorized trading in her account
carried out on 25th November 2011. The claimant informed about such
Yadav approached the petitioner on
14.12.2015 and confessed that large scale unauthorized tradings had been
affected in the account of the petitioner without knowledge ... consent
of the petitioner. Ms. Satish Yadav also confessed that such unauthorized
trade had been carried out for the purpose of generating enhanced
"brokerage
Yadav approached the petitioner on
14.12.2015 and confessed that large scale unauthorized trading had been
affected in the account of the petitioner without knowledge ... petitioner. Ms. Satish Yadav also confessed that such unauthorized
trade had been carried out for the purpose of generating enhanced
"brokerage
details of
trading which were in nature of reversal of trade/ circular trade
has been provided to me.
k. That these trades were never executed ... seems that
the broker has done unauthorized trades in my account and
same came to my knowledge when this matter was brought
into my knowledge
invest and trade in securities, contracts and other
instruments admitted for trading on the NSE. The MCA also allowed the
petitioner to trade ... petitioner argued that the absence of trade logs and NEAT system-
generated confirmation slips renders the derivative trades unauthorized.
According to the petitioner
Tribunal has held that there was no pre-trade
authorization, and hence the trades were unauthorized, it is an
erroneous statement ... Unauthorized Trading by Stock Brokers ". Thus,
it itself contemplates that without pre-trade instructions, the trades
are to be considered as unauthorized
Tribunal has held that there was no pre-trade
authorization, and hence the trades were unauthorized, it is an
erroneous statement ... Unauthorized Trading by Stock Brokers ". Thus,
it itself contemplates that without pre-trade instructions, the trades
are to be considered as unauthorized
trades by the petitioner
in the account of the respondent. He has stated that there
were lapses, manipulations in trading conduct ranging from
unauthorized trading ... circular and without such pre trade
instructions, the trades have been executed in the account of
the respondent by trading member that is the petitioner
broker H.S.Hemanth at Arasikere had started
unauthorized trading in his Demat account and using
the holding as stake, the defendant ... margin
by him to start the first trading and consequent to the
reckless trading or over trading, the ledger balance was
running in debit
