In a case of fraudulent trading by bogus entities through several brokerage houses, ICICI Securities has settled charges of alleged violation of stock broker norms without admission or denial of any wrongdoing with markets regulator Sebi.
ICICI Securities has settled the case by paying over Rs 28 lakh towards settlement charges, the Securities and Exchange Board of India (Sebi) said in a settlement order.
Another brokerage house, Angel Broking, has approached the regulator for the settlement of the case.
"We have made a proposal for settlement with Sebi and it is in a pending consideration. We cannot divulge more than this at this stage but it is proper that we assert that we are a whistle-blower and victim," a spokesperson of Angel Broking told PTI.
Edelweiss Broking spokesperson said, "Along with other brokers, we have received an enquiry from Sebi to which we have responded. We have asked Sebi for additional documents which we are waiting."
However, other brokerage houses allegedly
