ICICI Securities shares jump 6% after settling case with SEBI



ICICI Securities share price jumped 6 percent on BSE on November 29 after the company settled a case with the market regulator Securities and Exchange Board of India (SEBI).

ICICI Securities paid Rs 28 lakh as a settlement charge in a case of an alleged violation of stockbroker norms.

“The enforcement proceedings for the alleged default…are settled qua the applicant,” the SEBI said.

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The matter pertains to an investigation carried out by SEBI after news reports alleged dematerialisation and selling of shares of dormant accounts using forged documents by certain entities.

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The probe found that physical share certificates of certain scrips were fraudulently acquired in the names of 26 non-existing bogus entities and then dematted in fraudulently opened demat accounts having different addresses, but similar-looking photographs at different points of time.

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Shares of ICICI Securities were trading 4.82 percent up at Rs 345.90 on BSE at 1340 hours.



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Read more: ICICI Securities settles with Sebi case of an alleged violation of stockbroker norms
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