sebi:Order/JS/YK/2026-27/32335
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Charges of violation of Brokers Regulations and Intermediaries Regulations established against Noticee; Noticee failed to reply to SCN or appear for hearing
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 15H
- s. 15J
- s. 28A
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 5(e)
Parties
- Trdez Investment Private Limited
Holding
The Noticee, a SEBI-registered stock broker, was found to have violated Clause A(1) (integrity), A(2) (due skill and care) and A(3) (manipulation) of Schedule II of the Brokers Regulations by allowing its SEBI registration and name to be misused by entities created by its own directors for alleged money mobilization/Ponzi-like activities. The Noticee failed to reply to the show cause notice or appear for personal hearing, and was therefore presumed to have admitted the charges.
Full text
Adjudication Order in the matter of Trdez Investment Private Limited Page 2 of 33 alleged that Noticee had violated the provisions of clauses 1, 2 and 3 of Part A of Schedule II read with regulation 9(f) of Brokers Regulations and regulation 5(e) of Brokers Regulations read with clauses 1, 2(a), 2(b), 2(c) and 3(a) of Schedule II of Intermediaries Regulations. APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in the matter of Trdez Investment Private Limited Page 3 of 33 ii.) There are more than 300 agents deployed by IBFS who solicit investments under various bank accounts, inter alia, under the names of Infinite Beacon, IB Prop Desk and Sispay TFS. Once the payment is made by an investor, they are provided with a login on a platform where the transferred funds are displayed along with an option to make a withdrawal request. Investors have been doubling down on their investments due to the high initial returns being received through the Scheme in a manner that is akin to Ponzi schemes where the initial returns are given from the investments made by new investors.
Adjudication Order in the matter of Trdez Investment Private Limited Page 4 of 33 i.) Noticee was a member of BSE Ltd. since April 2023 and obtained NSE membership in CM and FO segments with effect from December 16, 2024. The directorship details of Noticee along with their shareholding pattern is depicted in table below:
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Source: SecMarx — sebi:Order/JS/YK/2026-27/32335. 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.