sebi:Order/AS/GD/2022-23/18768
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the Noticee
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 23J
- s. 23
- s. 23D
Regulations
- Reg. 6
- Reg. 26
- Reg. 9
Parties
- Shree Bahubali Stock Broking Limited
Holding
The Noticee was held to have violated SEBI circulars and SEBI Brokers Regulations by failing to segregate client funds from its own funds, failing to settle client funds/securities quarterly and failing to send statements of accounts, and by non-compliance with KYC norms. A total penalty of Rs. 5,50,000/- was imposed (Rs. 2,00,000 under Section 23D of SCRA and Rs. 3,50,000 under Section 15HB of the SEBI Act).
Full text
Adjudication Order in the matter of Shree Bahubali Stock Broking Limited Page 2 of 26 inspection carried out on July 24 & 25, 2014 covered the period from April 2012 to July 2014.
Adjudication Order in the matter of Shree Bahubali Stock Broking Limited Page 3 of 26 SHOW CAUSE NOTICE, REPLY AND HEARING
Adjudication Order in the matter of Shree Bahubali Stock Broking Limited Page 4 of 26 Account No. Name of the bank and Branch/DP Purpose Segment 00990610000973 HDFC BANK SETTLEMENTA/C NSECM 00140130000061 HDFC BANK, CENTRAL PLAZA LOAN AGAINST SECURITIES NSECM 00990650000899 HDFC BANK DUES A/C NSECM 00990630001315 HDFC BANK SETTLEMENT A/C FO 153010200003988 AXIS BANK ,CLIVE ROW CLIENT A/C NSECM 00080340007764 HDFC BANK, STEPHEN HOUSE DIVIDEND NSECM 10650340000014 HDFC BANK,KHARAGPUR CLIENT A/C NSECM 02340340000061 HDFC BANK,DURGAPUR CLIENT NSECM 1000054426 STATE BANK OF INDIA, TARAKESWAR CLIENT NSECM 00140340000405 HDFC BANK CLIENT DP 00990620002910 HDFC BANK SETTL BSE 00080340008065 HDFC BANK CLIENT BSE 30413259408 STATE BANK OF INDIA CLIENT NSE 00080340027206 HDFC BANK CLIENT MCX-SX 00080340027216 HDFC BANK CLIENT BSE CURRENCY 00990640002233 HDFC BANK SETTL BSE CURRENCY 00080340027198 HDFC BANK CLIENT NSE CURRENCY 10650340000014 HDFC BANK, KHARAGPUR CLIENT NSE 00990620006961 HDFC BANK
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