2012 (9) TMI 1114

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..... Mr. Prateek Seksaria, Advocate with Mr. Mobin Shaikh, Advocate for the Respondent. JUDGMENT P. K. Malhotra (Oral) The appellant before us is a subsidiary of Delhi Stock Exchange Limited and registered with the Securities and Exchange Board of India (the Board) as a stock broker of the National Stock Exchange of India Limited, Bombay Stock Exchange Limited and also as a depository participant .....

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..... sections 15F & 15HB of the Act and section 19G of the Depositories Act, 1996. Hence this appeal. 3. We have heard learned counsel for the parties for some time who have taken us through the record. We have specifically looked into the observations made by the adjudicating officer in para 206 of his order which reads as under: "In respect of the said submissions of the Noticee, I have noted that .....

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..... ved that it must be remembered that the purpose of carrying out inspection is not punitive and the object is to make the intermediary comply with the procedural requirements in regard to the maintenance of records. We have also observed that every minor discrepancy/irregularity found during the course of inspection is not culpable and the object of the inspection could well be achieved by pointing .....

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