sebi:Order/KS/AS/2021-22/11974
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 Noticee for violation of Section 23D of SCRA, 1956
Provisions invoked
- s. 15A
- s. 12
- s. 11
- s. 15J
- s. 28A
- s. 25
- s. 23
- s. 23J
- s. 23D
- s. 19G
- s. 9(1)
- s. 25(1)
- s. 230
Parties
- Sunil Kumar Kayan & Co.
Holding
The Noticee, Sunil Kumar Kayan & Co., was held liable for violating Section 23D of the SCRA, 1956 for failing to segregate client funds from proprietary funds, and was imposed a monetary penalty of Rs 1,50,000.
Full text
Adjudication Order in the matter of trading activities of Sunil Kumar Kayan & Co. Page 2 of 60 Penalties) Rules, 2005 (hereinafter referred to as Adjudication Rules, 2005) to inquire into and adjudge under Section 23D of the SCRA, 1956, the alleged violation of provisions of Section 23D of the SCRA, 1956, by the Noticee. SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING
Adjudication Order in the matter of trading activities of Sunil Kumar Kayan & Co. Page 3 of 60 02 July 2012 1,00,000 10 July 2012 15,50,000 02 Aug 2012 20,000 16 Aug 2012 10,000 27 Aug 2012 50,000 30 Aug 2012 1,00,000 04 Sep 2012 30,000 01 Oct 2012 50,000 05 Oct 2012 4,60,000 06 Oct 2012 4,60,000 09 Oct 2012 1,10,000 20 Oct 2012 10,000 01 Nov 2012 5,000 12 Nov 2012 20,000 27 Nov 2012 1,50,000 04 Dec 2012 50,000 21 Dec 2012 20,000 31 Dec 2012 50,000 11 Jan 2013 1,00,000 30 Jan 2013 50,000 01 Feb 2013 1,00,000 16 Mar 2013 1,00,000 20 Mar 2013 1,50,000 Total (for FY 2013) 42,00,000 09 May 2013 2,00,000 05 Jul 2013 1,00,000 17 Aug 2013 50,000 14 Sep 2013 1,00,000 27 Sep 2013 2,00,000 03 Oct 2013 50,000 30 Oct 2013 2,00,000 26 Nov 2013 50,000 09 Dec 2013 1,00,000
Adjudication Order in the matter of trading activities of Sunil Kumar Kayan & Co. Page 4 of 60 24 Jan 2014 2,00,000 24 Feb 2014 1,00,000 28 Feb 2014 10,000 10 Mar 2014 1,00,000 10 Mar 2014 80,000 22 Mar 2014 2,00,000 Total (for FY 2014) 17,40,000 23 April 2014 25,00,000 14 May 2014 4,00,000 28 May 2014 2,00,000 27 Jun 2014 1,50,000 15 Jul 2014 1,00,000 26 Jul 2014 2,00,000 07 Aug 2014 10,000 01 Sep 2014 1,50,000 01 Sep 2014 10,000 11 Sep 2014 1,50,000 17 Sep 2014 15,000 15 Oct 2014 1,00,000 24 Nov 2014 1,00,000 15 Dec 2014 1,00,000 31 Dec 2014 1,00,000 09 Jan 2015 50,000 30 Jan 2015 1,00,000 13 Feb 2015 50,000 09 Mar 2015 75,000 16 Mar 2015 2,00,000 Total (for FY 2015) 47,60,000 05 Jun 2015 1,50,000 29 Jun 2015 50,000 06 Jul 2015 50,000 15 Jul 2015 50,000
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Source: SecMarx — sebi:Order/KS/AS/2021-22/11974. 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.