Penalty of 3 lakh rightly imposed on sub-broker for allowing un-authorized access of terminal to its

SEBI : Where appellant, a sub-broker, registered with SEBI had knowingly allowed ultimate clients to operate terminals which were meant for sub-broker himself or for his authorized employees, this being in violation of SEBI circular dated 22-11-2001 as well as norms prescribed by Stock Brokers and Sub-Brokers Regulations, 1992, imposition of penalty was justified