sebi:Order/PB/AS/2021-22/14557

SEBI · SEBI · 2019-06-13 · Parag Basu, Adjudicating Officer

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Provisions invoked

Regulations

Parties

Holding

The Adjudicating Officer rejected the Noticee's contentions regarding delay and procedural defects, holding that the inquiry under the Adjudication Rules was completed and that the Noticee's arguments on misuse of client funds and related allegations did not disprove the charges. The Noticee was found to have violated SEBI Circular SMD-1/23321 dated November 18, 1993, SEBI Circular MRD/DoP/SE/Cir-11/2008 dated April 17, 2008, BSE Bye-Law 227, BSE Bye-Law 6.35 and BSE Regulation 4.32.

Full text

Adjudication Order in the matter of Inventure Growth & Securities Ltd Page 2 of 52 APPOINTMENT OF ADJUDICATING OFFICER 2. In this regard, SEBI initiated Adjudication Proceedings against the Noticee and appointed Ms Sangeeta Rathod as the Adjudicating Officer (AO), conveyed vide communique dated June 13, 2019, in the matter: a. under section 23-I of the Securities Contracts (Regulation) Act, 1956 (hereinafter referred to as SCRA, 1956) and rule 3 of Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties) Rules, 2005 (hereinafter referred to as Adjudication Rules, 2005) to inquire and adjudge under section 23D of the SCRA, 1956 the alleged violations of SEBI Circular SMD-1/23321 dated November 18, 1993, SEBI Circular MRD/DoP/SE/Cir-11/2008 dated April 17, 2008, BSE Bye-Law 227 for Capital Markets Segment, BSE Bye-Law 6.35 for Derivative Segment and BSE Regulation 4.32 of Capital Markets Regulations, and

Adjudication Order in the matter of Inventure Growth & Securities Ltd Page 3 of 52 SHOW CAUSE NOTICE, REPLY AND PERSONAL HEARING

Adjudication Order in the matter of Inventure Growth & Securities Ltd Page 4 of 52 30-Jun-14 251,509,690 (463,394,019) (37,638,824) 157310.85 157310.85 5,000,000 216,125,000

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