sebi:ORDER/VV/NK/2020-21/10223
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 15
- s. 11(2)
- s. 15H
- s. 15I
- s. 15J
- s. 28A
- s. 23
- s. 34
- s. 184
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(1)
- Reg. 17
- Reg. 4(2)
- Reg. 200
- Reg. 26
- Reg. 9
Parties
- Master Capital Services Ltd.
Holding
The adjudicating authority appears to have accepted the Noticee's contention that there was no substantive evidence proving an employer-employee relationship between MCSL and Bhanu Pratap Singh, and that the trades in the complainants' accounts were not unauthorized given the complainants' knowledge of and consent to the trades.
Full text
Adjudication Order in respect of Master Capital Services Ltd. Page 2 of 55 assumption was also strengthened as Rahul Raghav and Bhanu Pratap Singh had used email ids which are on the domain of mastertrust (the same domain is used by MCSL as well) to communicate with the complainants.
Adjudication Order in respect of Master Capital Services Ltd. Page 3 of 55 9.3. Trades carried out to earn brokerage: Regulation 4(1) and 4(2)(o) of (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market Regulations, 2003 (PFUTP)., Clauses A(1) and B (4)(a) of the Code of Conduct read with Regulation 9 of Stock Brokers Regulations.
Adjudication Order in respect of Master Capital Services Ltd. Page 4 of 55 13. Noticee submitted its reply to the SCN on October 29, 2020.
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Source: SecMarx — sebi:ORDER/VV/NK/2020-21/10223. 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.