sebi:EAD-3/JS/GSS/3657/2019-20
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established; penalties imposed on the Noticee
Provisions invoked
- s. 15
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 23D
Parties
- Arihant Capital Markets Ltd.
Holding
The Noticee, Arihant Capital Markets Ltd., violated clause 12(e) of the Annexure to SEBI Circular MIRSD/SE/Cir-19/2009 dated December 3, 2009 (by failing to settle client funds and securities at least once in a calendar quarter) and SEBI Circular SMD/SED/CIR/93/23321 dated November 18, 1993 (by failing to segregate client funds from its own funds). A penalty of Rs. 1,00,000 under Section 15HB of the SEBI Act and Rs. 5,00,000 under Section 23D of SCRA was imposed, totaling Rs. 6,00,000.
Full text
Adjudication Order No. EAD-3/JS/GSS/ 3657 /2019-20 Adjudication order in the matter of Arihant Capital Markets Ltd. || Page 2 of 10
Adjudication Order No. EAD-3/JS/GSS/ 3657 /2019-20 Adjudication order in the matter of Arihant Capital Markets Ltd. || Page 3 of 10
Adjudication Order No. EAD-3/JS/GSS/ 3657 /2019-20 Adjudication order in the matter of Arihant Capital Markets Ltd. || Page 4 of 10
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Source: SecMarx — sebi:EAD-3/JS/GSS/3657/2019-20. 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.