MUNEESH DHAWAN
25 July 2008 at 23:43
Dear Friends, my client is a manager in a pvt bank in delhi..he has received insider trading violation letters, first letter states violation of code for first time for shares bought & hence warning letter issued..second letter states second violation for scrips sold which were bought in same April month, hence warning letter,accompanied with Rs. 1000 as fine with forwarding his name to audit committee of the bank as well as SEBI.
It is pertinent to mention that he has not bought or sold scrips of that bank or its group companies but as per bank’ s code he has violated the norms/policy as amount of trading exceeded 10 lacs though that was margin trading. My client has been trading into shares since three years much before joining bank (he joined in Dec 2007). He was completely ignorant of the insider trading policy & trading was carried out in complete ignorance of the rules/policy..mails were sent to all employees by bank regarding this policy but were not read by my client.
First/second violation as per bank was buy/sale respectively of same shares in April and bank will surely treat continuous viloations (3rd,4th, 5th etc.) whereas my client was intimated about April violations on 8th July (violations of May are yet to be intimated)..all transactions happened in April (for which 1st n 2nd violation notice) and May (for which 3rd violation notice is expected)
Now he is expecting third violation letter also which states as policy termination from the bank..my client first got information regarding his trading from bank on 8th July ... and thereafter stopped trading in shares since then...however bank will consider violations of policy since he joined bank irrespective that mail was first sent regarding his trading on his demat account on 8th July...they ought to have intimated then and there in April when first violation happened rather then in July till when it was continuing.
Please suggest what to advice my client so that he is not terminated and that too for his ignorance which was unintentional..to add last point that there were net loss arising from the transactions and no profits accrued
Anand
25 July 2008 at 23:41
Dear Legal Experts
Whether a society registered under West Bengal Registration of Societies Act can be construed as operating under commercial laws?
Thanks and Regards,
Anand
MUNEESH DHAWAN
25 July 2008 at 23:37
Dear Friends, my client is a manager in a pvt bank in delhi..he has received insider trading violation letters, first letter states violation of code for first time for shares bought & hence warning letter issued..second letter states second violation for scrips sold which were bought in same April month, hence warning letter,accompanied with Rs. 1000 as fine with forwarding his name to audit committee of the bank as well as SEBI.
It is pertinent to mention that he has not bought or sold scrips of that bank or its group companies but as per bank’ s code he has violated the norms/policy as amount of trading exceeded 10 lacs though that was margin trading. My client has been trading into shares since three years much before joining bank (he joined in Dec 2007). He was completely ignorant of the insider trading policy & trading was carried out in complete ignorance of the rules/policy..mails were sent to all employees by bank regarding this policy but were not read by my client.
Now he is expecting third violation letter also which states as policy termination from the bank..my client first got information regarding his trading from bank on 8th July ... and thereafter stopped trading in shares since then...however bank will consider violations of policy since he joined bank irrespective that mail was first sent regarding his trading on his demat account on 8th July...they ought to have intimated then and there in April when first violation happened rather then in July till when it was continuing.
Please suggest what to advice my client so that he is not terminated and that too for his ignorance which was unintentional..to add last point that there were net loss arising from the transactions and no profits accrued.
sanman ayachit
25 July 2008 at 20:36
What is the concept of law firms? what the new commers can do in improvement of profession with the help of concept of law firms in taluka court places?
Ambika.S
25 July 2008 at 20:05
what is the effect of setting aside an exparte order of divorce petition?
The husband had filed a petition under section 13[1a] of Hindu Marriage Act. The wife did not appear before the Court and though due notice was served a paper publication was taken for the same. The wife remained absent and the Hon'ble Family Court allowed the husband's petition.
The wife filed a miscellaneous petition and set-aside the exparte order. The wife filed one more petition for conjgal rights and in that petition the husband remained exparte. It was allowed.
Presently, the husband has filed a miscellaneous petition to set-aside the exparte congjal rights.
The issue here is the status of the spouse and the litigation is for 10 years.
Vijay Kumar
25 July 2008 at 19:16
Sir, today in our bar library,I came across a judgement dated 27/08/2007 of the Hon'ble Supreme Court in Appeal(Civil)No.3940 of 2007 arising out of SLP(C)No.11683 of 2006; the two judges differed on O41 R27 and referred the case to CJI for placing the same before a larger bench.It has been reported in 2008(1) CCC 784.
To see the view of larger bench, when I just now opened the SC website, I found two different judgements in above appeal by the same DB; and there is no mention of the difference of opinion. Kindly quench my curiosity.
CHIDANANDA K R
25 July 2008 at 17:31
Dear Sir,
If a Ltd company issues a additonal equity shares to other than existing sharehoders of the company on preferential basis.
what are the doucments required for we have to submitt to the stock exchange for permission of trading and listing of addditional equity shares issued on pref. basis.
Kindly advise me.
With regards,
KR CHIDANANDA
bindia
25 July 2008 at 12:19
if a man & a woman live together for a long period of 10/20/30 years without gettin married ,i.e.,cohabiting & they have children out of that cohabitation.will they be given the status of husband & wife after a long period of cohabitation? will their children be considered legitimate children?
bindia
25 July 2008 at 10:37
if a man & a woman lives together for a long period of 10/20/30 years without getting married i.e. cohabiting & have children also out of that cohabitation, can after a long period of time they be given the status of husband and wife?
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