sebi:EAD-9/SM/222/2018-19

SEBI · SEBI · 2018-08-13 · Sahil Malik, Adjudicating Officer

This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.

Facts / Headnote

Penalty of Rs. 50,000 imposed under Section 15HB of SEBI Act, 1992

Provisions invoked

• s. 15
• s. 15H
• s. 15J
• s. 15F

Regulations

• Reg. 15

Holding

The Noticee traded in F&O segment without approval as Authorised Person, violating Clause D(c)(iv) of NSE Circular 001/2013 and Clauses A(1) and D(1) of Code of Conduct for sub-brokers, and is liable to Rs. 50,000 penalty under Section 15HB; violation of SEBI circulars dated November 06, 2009 and July 23, 2010 was not established.

Full text

In the matter of Inditrade Capital Ltd Page 2 of 7 Show Cause Notice, Reply and Personal Hearing: 3. Show Cause Notice dated August 13, 2018 (hereinafter referred to as ‘SCN”) was served on Noticee in terms of Rule 4 of AO Rules read with Section 15 (I) of SEBI Act, calling upon the Noticee to show cause as to why an inquiry should not be held against the Noticee for the alleged provisions of law. The SCN issued was duly delivered.

In the matter of Inditrade Capital Ltd Page 3 of 7 (c ) Clauses A(1) and D(1) of the Code of Conduct for sub-brokers as stipulated in Schedule II read with Regulation 15 of the Stock Broker Regulations.

In the matter of Inditrade Capital Ltd Page 4 of 7 Circular July 23, 2010 “Pursuant to SEBI circular no MIRSD/DR-1/Cir16/09 dated November 06, 2009…….SEBI has received representations from the stock exchanges and market participants seeking review of the certification requirements of authorised persons…………In view of the above, the aforesaid circular dated November 06, 2009 has been modified as follows:

Source: SecMarx — sebi:EAD-9/SM/222/2018-19. 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.