sebi:Order/SV/AJ/2024-25/30659
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Monetary penalty of INR 3,00,000 imposed under Section 15HB of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 15H
- s. 15J
Parties
- Suresh Rathi Securities Pvt. Ltd.
Holding
The Noticee was held to have violated provisions relating to Aadhaar masking, running account authorization and client due diligence for disproportionate trading vis-a-vis declared income, while allegations regarding non-dispatch of client registration documents, MTF approval, blank authority letter and absence of suspicious-transaction mechanism were not established, and a monetary penalty of INR 3,00,000 under Section 15HB was imposed.
Full text
Adjudication Order in the matter of Suresh Rathi Securities Pvt. Ltd. Page 2 of 24 2. The findings/ observations made during the course of inspection were communicated to the Noticee by SEBI vide its letter dated December 26, 2023.
Adjudication Order in the matter of Suresh Rathi Securities Pvt. Ltd. Page 3 of 24 7. Details of the findings of the inspection and the reply of the Noticee dated January 09, 2024 vi-i-vis the said violations alleged and comments thereon as depicted in the SCN are as below: Sr. No.
Adjudication Order in the matter of Suresh Rathi Securities Pvt. Ltd. Page 4 of 24 out of 50 sample clients. b Aadhar masking not done (20 clients)
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:Order/SV/AJ/2024-25/30659. 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.