sebi:Order/PM/SM/2020-21/10794
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Facts / Headnote
Violations established; penalty imposed payable within 45 days of receipt of order
Provisions invoked
- s. 15
- s. 19
- s. 12
- s. 15H
- s. 15J
- s. 23J
- s. 23
- s. 19H
- s. 23D
- s. 19G
Regulations
- Reg. 9(f)
- Reg. 9
- Reg. 37
- Reg. 58
- Reg. 79
Parties
- Anugrah Stock & Broking Private Limited
Holding
The Noticee failed to segregate clients' funds inter-se and between clients' funds and its own funds and mis-utilised clients' funds/securities, in violation of Section 23D SCRA and SEBI circulars, and was held liable for penalty to be paid within 45 days of receipt of the order.
Full text
Adjudication Order in respect Anugrah Stock & Broking Private Limited Page 2 of 51 Act, 1956 (hereinafter referred to as SCRA, 1956),15HB of Securities and Exchange Board of India Act, 1992 (hereinafter referred to as SEBI Act, 1992) and 19G of the Depositories Act, 1996 for the alleged violations of provisions of the below mentioned Acts, Rules, Regulations, Circulars:
Adjudication Order in respect Anugrah Stock & Broking Private Limited Page 3 of 51 xi. SEBI Circular SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 dated September 26, 2016 r/w Rule 33 of Chapter III of the Rules of NSEIL and NSE circular NSE/MEMB/2739 dated July 30, 2001 xii. SEBI Circular CIR/MIRSD/16/2011 dated August 22, 2011. xiii. SEBI Circular MIRSD/Cir-23/2011 dated December 2, 2011 xiv. SEBI Circular MIRSD/SE/Cir-21/2011 dated October 05, 2011 xv. CDSL Communique CDSL/OPS/DP/POLCY/196 dated April 18, 2017 xvi. CDSL Communique CDSL/A, I&C/DP/POLCY/4690 dated September 08, 2014. xvii. Clauses 2(b), 4 and 16 of Code of Conduct r/w regulation 37 of SEBI (Depositories and Participants) Regulations, 2018 (hereinafter referred to as DP Regulations, 2018). xviii. CDSL DP Operating Instructions 2.3.1, 2.3.6, 3.4.2, 4.4.19, 6.5.3.2, 6.5.4.9, 6.5.1.10. and 10.5.3
Adjudication Order in respect Anugrah Stock & Broking Private Limited Page 4 of 51 transferred to the undersigned and I was appointed as the Adjudicating Officer by the Competent Authority vide communique dated October 28, 2020.
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