sebi:QJA/ARB/MIRSD/DOP/23161/2022-23
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Facts / Headnote
Application for registration as commodity derivatives broker rejected; noticee held not to satisfy 'fit and proper person' criteria
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 154
- s. 131B
Regulations
- Reg. 27
- Reg. 28(2)
- Reg. 7
- Reg. 28
- Reg. 28(1)
- Reg. 25(1)
- Reg. 5(e)
Parties
- Sugal Commodity Brokers Private Limited
Holding
The noticee does not satisfy the 'fit and proper person' criteria under Schedule II of the SEBI (Intermediaries) Regulations, 2008, and its application for registration as a commodity derivatives broker is rejected.
Full text
__________________________________________________________________________________________ Order in respect of Sugal Commodity Brokers Private Limited in the matter of National Spot Exchange Limited Page 2 of 18
__________________________________________________________________________________________ Order in respect of Sugal Commodity Brokers Private Limited in the matter of National Spot Exchange Limited Page 3 of 18
__________________________________________________________________________________________ Order in respect of Sugal Commodity Brokers Private Limited in the matter of National Spot Exchange Limited Page 4 of 18
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Source: SecMarx — sebi:QJA/ARB/MIRSD/DOP/23161/2022-23. 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.