sebi:Order/MC/RM/2021-22/14369

SEBI · SEBI · 2021-01-13 · Maninder Cheema, Adjudicating Officer

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Facts / Headnote

Proceedings disposed of; no violation established, no penalty imposed

Provisions invoked

Regulations

Parties

Holding

The Adjudicating Officer found that there was insufficient material on record to establish that Delstox Stocks and Shares Ltd. failed to exercise reasonable due diligence or violated the Code of Conduct, the SEBI Master Circular on off-market transfers, or the AML reporting requirements, and accordingly disposed of the adjudication proceedings without imposing any penalty.

Full text

Adjudication Order against Delstox Stocks And Shares in the matter of Delta Leasing & Finance Ltd. Page 2 of 22 Depositories Act, the aforesaid alleged violations against the Noticee. The appointment of the AO was communicated vide order dated January 13, 2021.

Adjudication Order against Delstox Stocks And Shares in the matter of Delta Leasing & Finance Ltd. Page 3 of 22 7. The off market transactions executed during the investigation period were carried out electronically in dematerialized form by transfer from the account of a Beneficial Owner (Transferor or Source Client) to the account of another beneficial owner (Transferee or the Target Client) through Delivery Instruction Slips (DIS).

Adjudication Order against Delstox Stocks And Shares in the matter of Delta Leasing & Finance Ltd. Page 4 of 22 the DP verifying such transactions with the BO, shall record the details of the process, date, time, etc., of the verification on the Instruction Slip under his signature”.

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Source: SecMarx — sebi:Order/MC/RM/2021-22/14369. 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.