sebi:ORDER/GR/BSM/2021-22/13084

SEBI · SEBI · 1993-11-18 · G Ramar, Adjudicating Officer

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Facts / Headnote

Penalty imposed on the Noticee

Provisions invoked

Parties

Holding

The Noticee, Way2wealth Brokers Private Limited, was held to have violated Section 23D of SCRA, 1956 read with clause 1 of SEBI circular dated November 18, 1993 and clause 3 of Annexure of SEBI circular dated September 26, 2016, by mis-utilising clients' funds, and a penalty of Rs. 3,00,000/- was imposed.

Full text

Adjudication Order w.r.t. Way2wealth Brokers Private Limited. 2 | 14 dated November 18, 1993 and clause 3 of Annexure of SEBI circular SEBI/HO/MIRSD/MIRSD2/ CIR/P/2016/95 dated September 26, 2016.

Adjudication Order w.r.t. Way2wealth Brokers Private Limited. 3 | 14 balance clients while the negative value indicates utilization of funds of credit balance clients to meet the obligations of debit balance clients and/or for its own purpose.

Adjudication Order w.r.t. Way2wealth Brokers Private Limited. 4 | 14 days) and the amount is in the range of Rs.40 lakhs to Rs.36 crores. The average value of mis-utilisation of clients’ fund (i.e. average value of G) is Rs.18.62 crores.

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Source: SecMarx — sebi:ORDER/GR/BSM/2021-22/13084. 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.