sebi:QJA/AA/MIRSD/DOP/24159/2022-23
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Facts / Headnote
Certificate of registration of Vertex Commodities and Finpro Pvt. Ltd. (INZ000066235) cancelled
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 28A
- s. 27
- s. 12(3)
- s. 29A
- s. 154
Regulations
- Reg. 6
- Reg. 27
- Reg. 2(1)(b)
- Reg. 9
- Reg. 7
- Reg. 28(1)
- Reg. 9(b)
- Reg. 28
- Reg. 25(1)
- Reg. 5(e)
Parties
- Vertex Commodities and Finpro Pvt. Ltd.
Holding
The certificate of registration of Vertex Commodities and Finpro Pvt. Ltd. was cancelled on the ground that it failed to satisfy the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, having facilitated its clients to trade in 'paired contracts' on NSEL that were violative of the Exemption Notification of 2007 and the FCRA, and having incurred disqualification under the amended Schedule II on account of a pending FIR filed by SEBI.
Full text
Order in respect of Vertex Commodities and Finpro Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited _____________________________________________________________________________________________ ___________________________________________________________________________ Page 2 of 27
Order in respect of Vertex Commodities and Finpro Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited _____________________________________________________________________________________________ ___________________________________________________________________________ Page 3 of 27
Order in respect of Vertex Commodities and Finpro Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited _____________________________________________________________________________________________ ___________________________________________________________________________ Page 4 of 27
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Source: SecMarx — sebi:QJA/AA/MIRSD/DOP/24159/2022-23. 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.