sebi:MC/ST/2021-22/11974
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; monetary penalty imposed
Provisions invoked
- s. 15
- s. 12
- s. 15H
- s. 15J
- s. 23J
- s. 23
- s. 23D
Parties
- M/s. Amrapali Capital & Finance Services Ltd.
Holding
The Adjudicating Officer held M/s. Amrapali Capital & Finance Services Ltd. violated Section 23D of SCRA and the cited SEBI circulars on segregation of client funds/securities, client funding, KYC and UCC email/mobile requirements. A total monetary penalty of Rs.4,00,000 (Rs.2,00,000 under Section 15HB of SEBI Act and Rs.2,00,000 under Section 23D of SCRA) was imposed.
Full text
Adjudication Order in the matter of M/s. Amrapali Capital & Finance Services Ltd. (Page 2 of 27) Category Concerned Exchange / Depository SEBI Registration No. Stock Broker BSE INB010758838 INF010998733 NSE INF230758835 Stock Broker MCX INZ000091233 Depository Participant CDSL IN-DP-NSDL-324-2009
Adjudication Order in the matter of M/s. Amrapali Capital & Finance Services Ltd. (Page 3 of 27) SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order in the matter of M/s. Amrapali Capital & Finance Services Ltd. (Page 4 of 27) 8. In terms of SEBI circular dated September 26, 2016, the sum of the proprietary funds (positive value of G), the value of proprietary securities (E) and the non- funded portion of bank guarantee (F) available in the Stock Exchanges is compared with the Proprietary margin obligations (P). If P > (G+E+F), then Stock Exchange shall calculate the difference I, which is the amount of proprietary margin obligation funded from clients assets. I = P -(G+E+F). The value of I indicates the extent of funds and securities of clients which is possibly utilized towards proprietary margin obligations.
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Source: SecMarx — sebi:MC/ST/2021-22/11974. 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.