sebi:Order/MC/HP/2020-21/8431
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Facts / Headnote
Penalty imposed on Noticee for multiple violations of SEBI Act, SCRA, SEBI circulars and Exchange regulations
Provisions invoked
- s. 15
- s. 12
- s. 15H
- s. 15J
- s. 23J
- s. 15F
- s. 23
- s. 23D
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 199
- Reg. 17
- Reg. 19
Parties
- M/s Mansi Share & Stock Advisors Pvt. Ltd.
Holding
The Noticee was found liable for violations including misutilisation of client funds, incorrect margin reporting, absence of call recording, incorrect ledger entries, mismatched mobile/email records, failure to upload all bank/demat details, and failure to periodically reconcile back office holdings with DP accounts. A total penalty of Rs. 13,00,000 was imposed (Rs. 5,00,000 under Section 23D of SCRA and Rs. 8,00,000 under Section 15HB of SEBI Act).
Full text
Adjudication Order in respect of M/s Mansi Share & Stock Advisors Pvt. Ltd. Page 2 of 34 c) SEBI Circular SEBI/HO/CDMRD/DRMP/CIR/P/2016/80 dated September 07, 2016. d) SEBI Circular CIR/MIRSD/15/2011 dated August 02, 2011. e) SEBI Circular SEBI/HO/MIRSD/DOP1/CIR/P/2018/54 dated March 22, 2018. f) Clause 3(2) of Certification of Associated Persons in the Securities Markets Regulations, 2007read with Clause A(5) of Schedule II and Regulation 9(f) of SEBI (Stock Brokers) Regulations, 1992 (hereinafter referred to as, the “Brokers Regulations”) read with Circular no NSE/MEM/12749 dated 20-Jul-2009 and NSE/MEM/13054 dated 09- Sep-2009 , Exchange circular NSE/INSP/22613 dated January 24, 2013 and Exchange circular NSE/INSP/28472 dated December 29, 2014. g) Regulation 6.1.1 of the Regulations (F&O segment), Regulation 6.1.1 of Part A of the Capital Market Regulations of the Exchange and Regulation 17 of Brokers Regulations, Rule 15 of the Securities Contracts (Regulation) Rules,1957. h) Clause 2.II of SEBI circular CIR/MRD/DSA/01/2016 dated January 01, 2016 to be read with with Exchange circular NSE/INSP/34055 dated January 24, 2017 & Exchange circular dated June 14, 2017 Ref NSE/INSP/35116. i) SEBI Circular SEBI/MIRSD/SE/Cir-19/2009 dated December 03, 2009. j) SEBI circular CIR/HO/MIRSD/MIRSD2/CIR/P/2017/64 dated June 22, 2017. k) SEBI circular no. CIR/MIRSD/66/2016 dated July 21, 2016. l) SEBI circular CIR/MIRSD/120/2016 dated November 10, 2016. m) SEBI Circular CIR/MIRSD/16/2011
Adjudication Order in respect of M/s Mansi Share & Stock Advisors Pvt. Ltd. Page 3 of 34 alleged violations against the Noticee. The appointment of the AO was communicated vide order dated February 14, 2020.
Adjudication Order in respect of M/s Mansi Share & Stock Advisors Pvt. Ltd. Page 4 of 34 Collateral deposited with exchanges in form of Cash and Cash Equivalents (In Rs.)
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Source: SecMarx — sebi:Order/MC/HP/2020-21/8431. 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.