sebi:Order/BM/UR/2022-23/18919-18926
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Facts / Headnote
Violations established against USPL, USPL-DP, Noticee 1, Noticee 2, Noticee 3, Noticee 4, Noticee 5 and Noticee 6; adjudication proceedings against Noticee 7 abated and SCN dated May 14, 2022 against her disposed of accordingly; monetary penalty to be determined considering Section 15J of SEBI Act, Section 23J of SCRA and Section 19-I of DP Act and period of debarment undergone.
Provisions invoked
- s. 15A
- s. 15
- s. 19
- s. 12(1)
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 11C
- s. 15F
- s. 28A
- s. 23A
- s. 23J
- s. 15C
- s. 23
- s. 23H
- s. 23D
- s. 19C
- s. 19H
- s. 23C
Regulations
- Reg. 6
- Reg. 3
- Reg. 4(1)
- Reg. 200
- Reg. 26
- Reg. 3(a)
- Reg. 9
- Reg. 20A
- Reg. 53B
- Reg. 9(e)
- Reg. 9(b)
- Reg. 3(d)
- Reg. 20(2)(b)
- Reg. 43
- Reg. 20
- Reg. 12(1)
- Reg. 18A
- Reg. 58(B)
- Reg. 18A(2)
- Reg. 58(B)(2)
Parties
- Unickon Securities Pvt Ltd (USPL)
- USPL-DP
- Noticee 1 - Shri Gajendra Nagpal
- Noticee 2 - Shri Ram Mohan Gupta
- Noticee 3 - Ex-Compliance Officer of USPL
- Noticee 4
- Noticee 5 - Unickon Fincap Pvt Ltd (UFPL)
- Noticee 6
- Noticee 7
Holding
USPL, USPL-DP and connected Noticees violated stock broker, depository participant and PFUTP provisions through mis-utilisation of client funds/securities, pledging, non-segregation, non-settlement, non-redressal and change in control without approval; proceedings against Noticee 7 abate.
Full text
2 referred to as “Noticee 7”) (hereinafter collectively refreed to as “Noticees”) had not complied with the various provisions of SEBI regulations and circulars; and by doing so it was alleged that they had violated the following provisions as follows:-
3 Noticee / Entity Allegation Alleged Violations Brokers and Sub Brokers) Regulations, 1992 Regulation 3(a) and (d) and Regulation 4(1) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003
4 Noticee / Entity Allegation Alleged Violations Non-redressal of grievances of investors within one month of the date of receipt of the complaint Conditions of registration as specified under Regulations 9(b), 9(e) and 9(f) of the SEBI (stock Brokers and Sub Brokers) Regulations, 1992 Non-compliance of the requirement of periodical settlement of client accounts (Failure to deliver the securities/make payment of the amount to the investor, not providing statement of accounts for funds to investors)
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Source: SecMarx — sebi:Order/BM/UR/2022-23/18919-18926. 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.