sebi:QJA/AA/MIRSD/MIRSD-SEC-1/30340/2024-25
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Facts / Headnote
Prohibited the Noticee viz Aranox Commodities Private Limited (SEBI Registration No. INZ000158434) from taking up any new assignment or contract or launching a new scheme for a period of three months with immediate effect.
Provisions invoked
- s. 15
- s. 19
- s. 23
- s. 23D
- s. 12(3)
Regulations
- Reg. 23
- Reg. 27
- Reg. 26
- Reg. 25(1)
Parties
- Aranox Commodities Private Limited
Holding
The Noticee misutilised clients' funds in violation of Section 23D of SC(R) Act, 1956 read with SEBI Circulars dated November 18, 1993 and September 26, 2016, and is prohibited from taking up any new assignment or contract or launching a new scheme for three months.
Full text
Order in respect of Aranox Commodities Private Limited Page 2 of 13 3. Thereafter, SEBI initiated enquiry proceedings against the Noticee under Regulation 23 of the SEBI (Intermediaries) Regulations, 2008 (“Intermediaries Regulations, 2008”) read with Section 12(3) of the SEBI Act, 1992.
Order in respect of Aranox Commodities Private Limited Page 3 of 13 7. Upon completion of the enquiry, an Enquiry Report dated March 26, 2024 (“Enquiry Report”) was submitted by the DA to the Competent Authority with the following recommendation :- “After taking into consideration the facts and circumstances of the case, material available on record and submissions made by the Noticee, having regard to orderly functioning of the securities market and protection of interest of investors, I recommend that the Noticee i.e., Aranox Commodities Private Limited, SEBI Registration No: INZ000158434 as a Broker, be prohibited from taking up any new assignment or contract or launch a new scheme for a period of three months.”
Order in respect of Aranox Commodities Private Limited Page 4 of 13 9.2 In this scenario, the Noticee has paid all credit balance and followed all due diligence. 9.3 The noticee has also been levied penalty by the Adjudicating Officer under Section 23D of SCRA and 15HB of the SEBI Act, 1992. 9.4 The Noticee honors the judgement in this matter but there is no fault at Noticee’s end but is totally at the MCX end.
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Source: SecMarx — sebi:QJA/AA/MIRSD/MIRSD-SEC-1/30340/2024-25. 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.