sebi:ORDER/AP/SK/2019-20/6776
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Facts / Headnote
Penalty imposed on the Noticee for violations of SEBI circulars relating to mis-utilisation of clients' funds, non-segregation of clients' funds and own funds, and mis-use of pledging of clients' securities.
Provisions invoked
- s. 12
- s. 28A
- s. 23
- s. 23J
- s. 23D
- s. 23I
Regulations
- Reg. 58
- Reg. 79
Parties
- Indovision Securities Limited
Holding
The Adjudicating Officer held that the Noticee violated the 1993, 2008 and 2016 Circulars by mis-utilising clients' funds, failing to segregate its own funds from clients' funds, and mis-using pledging of clients' securities, and imposed a collective penalty of Rs. 10,00,000 under Section 23D of the SCRA.
Full text
_________________________________________________________________________________________ Adjudication Order in the matter of Indovision Securities Limited Page 2 of 18
_________________________________________________________________________________________ Adjudication Order in the matter of Indovision Securities Limited Page 3 of 18
_________________________________________________________________________________________ Adjudication Order in the matter of Indovision Securities Limited Page 4 of 18
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Source: SecMarx — sebi:ORDER/AP/SK/2019-20/6776. 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.