sebi:QJA/AA/MIRSD/DOP/23411/2022-23
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Facts / Headnote
Noticee declared not a fit and proper person; certificate of registration as broker called into question
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 27
- s. 12(3)
- s. 154
- s. 29A
Regulations
- Reg. 6
- Reg. 27
- Reg. 9
- Reg. 7
- Reg. 9(b)
- Reg. 28
- Reg. 24
- Reg. 28(1)
- Reg. 25(1)
- Reg. 5(e)
Parties
- B N Rathi Comtrade Private Limited
Holding
The Noticee, B N Rathi Comtrade Private Limited, was held not to be a 'fit and proper person' for holding a certificate of registration as a broker, in view of its trading in paired contracts on NSEL that violated the conditions of the 2007 Exemption Notification under FCRA.
Full text
Order in respect of B N Rathi Comtrade Private Limited in the matter of trading on the National Spot Exchange Limited ______________________________________________________________________________________________ ______________________________________________________________________________________________ Page 2 of 28
Order in respect of B N Rathi Comtrade Private Limited in the matter of trading on the National Spot Exchange Limited ______________________________________________________________________________________________ ______________________________________________________________________________________________ Page 3 of 28
Order in respect of B N Rathi Comtrade Private Limited in the matter of trading on the National Spot Exchange Limited ______________________________________________________________________________________________ ______________________________________________________________________________________________ Page 4 of 28
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Source: SecMarx — sebi:QJA/AA/MIRSD/DOP/23411/2022-23. 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.