The Securities and Exchange Board of India (Sebi) has issued a warning to Jardine Fleming India Broking Ltd (JFIBL) asking it to be diligent in future while dealing with the securities market and investors, and to ensure strict compliance of the provisions of the Sebi Act.
The warning has been issued with regard to the transactions undertaken by JFIBL in the shares of State Bank of India (SBI).
Sebi had ordered an investigation into transactions in the shares of SBI by various intermediaries including JFIBL.
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Copthall Mauritius Investment Ltd (CMIL), a sub-account of Fledgling Nominees International (FNI), and a part of the Jardine Fleming group, was a client with JFIBL.
During the course of the investigation and inspection of the transactions of JFIBL, Sebi found that JFIBL
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