sebi:CO/27/SMD/05/2003
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Certificate of registration suspended for four months
Provisions invoked
- s. 11
Regulations
- Reg. 4
- Reg. 7
- Reg. 6
- Reg. 13(2)
- Reg. 13
- Reg. 28
- Reg. 5
- Reg. 2
- Reg. 19(1)
Parties
- M/s. Yelkays Financial Consultants & Investments Ltd
Holding
The Chairman of SEBI held that M/s. Yelkays Financial Consultants & Investments Ltd was guilty of violating Clause A(5) of the Code of Conduct in Schedule II read with Regulation 7 of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, Rule 4(b) of the SEBI (Stock Brokers and Sub-Brokers) Rules, 1992, SEBI circulars, and NSE Regulations, and ordered suspension of its certificate of registration (INB 230752234) for a period of four months.
Full text
Home » Enforcement » Orders » Orders of Chairman/Members Enforcement Enforcement▼ Order Under Regulation 13 (4) Read With Regulation 13 (6) Of SEBI (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) Regulations,2002 In The Matter Of M/s. Yelkays Financial Consultants & Investments Limited SEBI | Order Under Regulation 13 (4) Read With Regulation 13 (6) Of... https://www.sebi.gov.in/enforcement/orders/may-2003/order-under-regu... 1 of 5 21-10-2025, 12:53
ORDER UNDER REGULATION 13 (4) READ WITH REGULATION 13 (6) OF SEBI (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING
Holding Enquiry by Enquiry Officer and Imposing Penalty), Regulations, 2002 (hereinafter referred to as ‘the Enquiry Proceeding Regulations’) commenced on 27.09.2002 the enquiry officer conducted the proceedings under the said Enquiry Proceedings Regulations. 2.2 After considering the reply of the said broker and submissions made on its behalf during personal hearing before him, the enquiry officer submitted the enquiry report dated October 31, 2002. 2.3 After considering the submissions of the said broker the enquiry officer has found the explanation of the said broker acceptable in respect of allegations regarding non maintenance of document register, delay in payment to client and delivery of securities to clients, non maintenance of Order Book and not reporting of the floor transactions to the stock exchange. In respect of the violations regarding non acceptance of margin money from the clients and non segregation of clients account and own account, the enquiry officer has found as under – (i). Non collection of margin money- it was submitted they were collecting the margin from the client by simultaneously debiting the margin amount to the clients’ account and reversing the same on completion of the settlement. It was submitted that the margins were also collected in the form of shares which were valued at 50% of the market rates. It is stated in the inspection report that the broker has not collected the margin money from LKS Murty & Company.Pvt Ltd and in fact there ar
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Source: SecMarx — sebi:CO/27/SMD/05/2003. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.