sebi:EAD-9/SM/229/2018-19

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; certification charges dropped

Provisions invoked

• s. 15
• s. 15H
• s. 15J
• s. 15F

Regulations

• Reg. 15

Parties

• Inditrade Capital Ltd (Formerly known as JRG Securities Ltd)

Holding

The certification charges under SEBI circulars MIRSD/DR-1/Cir-16/09 dated November 06, 2009 and July 23, 2010 do not stand established, but the Noticee violated Clause D(c)(iv) of NSE Circular 001/2013 and Clauses A(1) and D(1) of the Code of Conduct by trading in F&O without Authorised Person approval, for which a penalty of Rs. 50,000 under Section 15HB of the SEBI Act, 1992 was imposed.

Full text

In the matter of Inditrade Capital Ltd (Formerly known as JRG Securities Ltd) Page 2 of 8 Show Cause Notice, Reply and Personal Hearing:

In the matter of Inditrade Capital Ltd (Formerly known as JRG Securities Ltd) Page 3 of 8 Issue I: Whether Noticee have violated

In the matter of Inditrade Capital Ltd (Formerly known as JRG Securities Ltd) Page 4 of 8 4.1 An individual is eligible to be appointed as authorised person if he: a) is a citizen of India; b) is not less than 18 years of age; c) has not been convicted of any offence involving fraud or dishonesty; d) has good reputation and character; e) has passed at least 10th standard or equivalent examination from an institution recognized by the Government; and f) has the certification, as applicable to approved user/sales personnel of the respective segment, and undertakes to continue to have valid certification thereafter.

Source: SecMarx — sebi:EAD-9/SM/229/2018-19. 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.