sebi:EAD-9/SM/244/2018-19
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Facts / Headnote
Violation partly established; penalty of Rs. 50,000 imposed under Section 15HB
Provisions invoked
- s. 15
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 15
Holding
The Noticee did not violate Clauses 1, 2, 3 and 4 of Annexure 1 of the 2009 and 2010 SEBI certification circulars, but violated Clause D(c)(iv) of NSE Circular 001/2013 and Clauses A(1) and D(1) of the Code of Conduct for sub-brokers by trading in F&O without Authorised Person approval, and a penalty of Rs. 50,000 under Section 15HB was imposed.
Full text
In the matter of Inditrade Capital Ltd Page 2 of 8 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 8 Issue I: Whether Noticee have violated a) Clauses 1, 2, 3 and 4 of Annexure 1 of SEBI circulars MIRSD/DR-1/Cir-16/09 dated November 06, 2009 and MIRSD/AP/8/2010 dated July 23, 2010; (b) Clause D(c ) (iv) of NSE Circular 001/2013 dated February 13, 2013 (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 8 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.
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Source: SecMarx — sebi:EAD-9/SM/244/2018-19. 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.