sebi:JS/DJ/48/2017
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Alleged violations established; penalty imposed (amount not specified in excerpt)
Provisions invoked
- s. 15
- s. 15H
- s. 15B
- s. 15J
- s. 15F
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 26
- Reg. 9
- Reg. 26v
Parties
- NG Rathi Investrades Pvt Ltd
Holding
The Noticee NG Rathi Investrades Pvt Ltd was found to have violated SEBI circulars CIR/MIRSD/16/2011 and CIR/MIRSD/13/2013 read with Clauses A(2) and A(5) of the Code of Conduct under Schedule II and Regulation 9(f) of the SEBI (Stock Brokers & Sub-brokers) Regulations, 1992, by delaying implementation of KYC and account opening form changes. The Noticee's contention regarding minor delay in replacing client agreement was accepted as reasonable, but the delay of over four years in implementing uniform KYC/documentation was held to be a violation.
Full text
Adjudication Order in respect of Inspection of the books of accounts of the Stock Broker NG Rathi Investrades Pvt Ltd 2 of 17
Adjudication Order in respect of Inspection of the books of accounts of the Stock Broker NG Rathi Investrades Pvt Ltd 3 of 17
Adjudication Order in respect of Inspection of the books of accounts of the Stock Broker NG Rathi Investrades Pvt Ltd 4 of 17
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Source: SecMarx — sebi:JS/DJ/48/2017. 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.