sebi:Order/MC/VS/2020-21/7494
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Facts / Headnote
Show cause notice disposed of; no penalty imposed
Provisions invoked
- s. 23
- s. 23J
- s. 23D
Parties
- FRR Shares and Securities Ltd.
Holding
The Adjudicating Officer found that the allegation that the Noticee misutilised credit balance clients' funds to meet settlement obligations of debit balance clients, in violation of SEBI Circular No. SMD/SED/CIR/93/23321 dated November 18, 1993 read with Section 23D of the SCRA, was not established, and therefore no penalty was imposed.
Full text
Adjudication Order in respect of FRR Shares and Securities Ltd. in the matter of FRR Shares and Securities Ltd. Page 2 of 16
Adjudication Order in respect of FRR Shares and Securities Ltd. in the matter of FRR Shares and Securities Ltd. Page 3 of 16
Adjudication Order in respect of FRR Shares and Securities Ltd. in the matter of FRR Shares and Securities Ltd. Page 4 of 16
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Source: SecMarx — sebi:Order/MC/VS/2020-21/7494. 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.