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TMI Blog2012 (9) TMI 1114X X X X Extracts X X X X X X X X Extracts X X X X ..... th 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 out the irregularities/deficiencies to the intermediary at the time of inspection and making it compliant. As per the observations made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rd) as a stock broker of the National Stock Exchange of India Limited, Bombay Stock Exchange Limited and also as a depository participant of Central Depository Services (India) Limited. 2. The Board carried out inspection of the appellant during February 8-23, 2007 with regard to its activities as a stock broker and also as a depository participant. During inspection, the Board noticed certain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 the inspections have not revealed any unlawful gains made by the Noticee by indulging into such violations/non-compliances. It is also not possible from the information/details available with me to arrive at the figures for the unlawful gains made by the No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... screpancy/irregularity found during the course of inspection is not culpable and the object of the inspection could well be achieved by pointing out the irregularities/deficiencies to the intermediary at the time of inspection and making it compliant. As per the observations made by the adjudicating officer himself, the violations committed by the appellant are mostly technical in nature; some of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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