sebi:CO/SBM/EAD-3/05/2017
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Facts / Headnote
Adjudication proceedings disposed of by settlement on payment of settlement charges
Regulations
- Reg. 9(f)
- Reg. 17
- Reg. 26
- Reg. 15(1)
- Reg. 3(1)
- Reg. 9(e)
Parties
- Master Capital Services Limited
Holding
The adjudication proceedings initiated against Master Capital Services Limited vide SCN ref. A&E/EAD3/SBM-VB/5587/2016 dated February 26, 2016 are disposed of by settlement on payment of Rs. 7,65,000 without admission or denial of violations.
Full text
Page 2 of 5 3. SEBI had conducted an inspection of the applicant to examine whether adequate steps are taken by the applicant in the matter of redressal of investor grievances and availability of adequate infrastructure for the same for the period April 01, 2013 to August 14, 2014 (hereinafter referred to as “inspection period”) with specific focus on the complaint of Shri Madan Mohan Sharma. Certain violations were observed to have been committed by the applicant.
Page 3 of 5 Stock Brokers Regulations. Further, the applicant had also allegedly violated the provisions of Regulations 26 (xv) and (xvi) of the Stock Brokers Regulations.
Page 4 of 5 8. The settlement terms were again placed before the HPAC on July 05, 2017, along with the desired information sought by HPAC. The HPAC, after considering the facts and circumstances of the case, settlement terms offered by the applicant and also the materials made available before it by SEBI, recommended that the aforesaid adjudication proceedings initiated against the applicant may be settled on payment of Rs. 7,65,000/- (Rupees Seven Lakh Sixty five Thousand Only) towards the settlement terms. The Panel of Whole Time Members of SEBI approved the said recommendation of HPAC on August 16, 2017 and the same was communicated to the applicant vide letter dated August 16, 2017.
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Source: SecMarx — sebi:CO/SBM/EAD-3/05/2017. 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.