sebi:Order/AN/AK/2024-25/31138
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Facts / Headnote
Violations held established against the Noticee; matter proceeded to determination of monetary penalty
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 19
- s. 12A
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
- s. 23J
- s. 23
- s. 23H
Regulations
- Reg. 6
- Reg. 9
Parties
- Shri Venkatesh Stock Broker Services India Private Limited
Holding
The Noticee was held to have violated client-fund segregation, running-account settlement, enhanced-supervision reporting and networth requirements, including misuse of credit-balance client funds and failure to maintain daily reconciliation, thereby attracting monetary penalty under Section 15HB of the SEBI Act, 1992 and Section 23H of the SCR Act, 1956.
Full text
Adjudication Order in the matter of Shri Venkatesh Stock Broker Services India Private Limited Page 2 of 31 explanations of the Noticee were sought on the same. Noticee vide its letter dated October 11, 2023, inter alia submitted its reply to the findings and observations of SEBI.
Adjudication Order in the matter of Shri Venkatesh Stock Broker Services India Private Limited Page 3 of 31 3.5. Clause 2 of Schedule II ‘Code of Conduct’ read with Regulation 9 of SEBI (Stock Brokers) Regulations, 1992. BSE notice no 20230412-51 dated 12- Apr-2023.
Adjudication Order in the matter of Shri Venkatesh Stock Broker Services India Private Limited Page 4 of 31 Section 23H of SCR Act, 1956, for the violations alleged to have been committed by the Noticee.
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Source: SecMarx — sebi:Order/AN/AK/2024-25/31138. 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.