sebi:Order/GR/BM/2021-22/13572
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Facts / Headnote
Violation of NSE bye-laws and Stock Broker Code of Conduct established; penalty of Rs.3,00,000 under Section 15HB imposed; PFUTP/Section 12A charges not established
Provisions invoked
- s. 15H
- s. 15I
- s. 15J
- s. 28A
Regulations
- Reg. 3
- Reg. 9(f)
- Reg. 4(1)
- Reg. 26
- Reg. 9
- Reg. 3(b)
Parties
- Master Capital Services Ltd.
Holding
The Noticee violated Point 2(a) of Chapter V of NSE bye-laws read with Clauses A(2) and A(5) of the Code of Conduct read with regulation 9(f) of the Stock Broker Regulations by repeatedly connecting to the secondary server without sufficient reason, and a penalty of Rs.3,00,000 under Section 15HB was imposed. The charges under Regulations 3(b), 3(c), 3(d) and 4(1) of PFUTP Regulations read with Sections 12A(a), 12A(b) & 12A(c) were held not established.
Full text
Adjudication Order in respect of Master Capital Services Ltd. in the matter of NSE Co-Location Page 2 of 23 26(xx) of SEBI (Stock Brokers & Sub Brokers) Regulations, 1992 (hereinafter referred to as “Stock Broker Regulations”) against the Noticee. Adjudication proceedings have been initiated against the Noticee for the alleged violation of provisions of point 2(a) of Chapter V of NSE bye-laws read with clauses A(2) and A(5) of the Code of Conduct specified under Schedule II read with regulation 9(f) of the Stock Broker Regulations and regulations 3(b), 3(c), 3(d) and 4(1) of Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and Sections 12A(a), 12A(b) & 12A(c) of the SEBI Act.
Adjudication Order in respect of Master Capital Services Ltd. in the matter of NSE Co-Location Page 3 of 23 5. The allegations levelled against the Noticee in the SCN are summarized as below:
Adjudication Order in respect of Master Capital Services Ltd. in the matter of NSE Co-Location Page 4 of 23 FO Segment: Year Total number of trading days** Number of days connected to secondary server %age 2012 251 31 12.35% 2013 250 206 82.40% 2014* 67 50 74.63%
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Source: SecMarx — sebi:Order/GR/BM/2021-22/13572. 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.