sebi:QJA/ARB/MIRSD/DOP/25048/2022-23
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Facts / Headnote
Certificate of Registration No. INZ000031236 of Purvag Commodities and Derivatives Pvt. Ltd. as a commodity derivatives broker cancelled; noticee directed to inform clients and allow withdrawal/transfer of securities and funds within 15 days (with further 15 days to transfer to another broker if not withdrawn).
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 154
- s. 131B
Regulations
- Reg. 6
- Reg. 28(2)
- Reg. 9
- Reg. 7
- Reg. 28
- Reg. 27
- Reg. 28(1)
- Reg. 5(e)
Parties
- Purvag Commodities and Derivatives Pvt. Ltd.
Holding
SEBI cancelled the certificate of registration of Purvag Commodities and Derivatives Pvt. Ltd. as a commodity derivatives broker, holding that it is not a 'fit and proper person' under Schedule II of the Intermediaries Regulations. The noticee was directed to inform clients and permit withdrawal or transfer of their securities and funds within 15 days.
Full text
__________________________________________________________________________________________ Order in respect of Purvag Commodities and Derivatives Pvt. Ltd. in the matter of National Spot Exchange Limited Page 2 of 20
__________________________________________________________________________________________ Order in respect of Purvag Commodities and Derivatives Pvt. Ltd. in the matter of National Spot Exchange Limited Page 3 of 20
__________________________________________________________________________________________ Order in respect of Purvag Commodities and Derivatives Pvt. Ltd. in the matter of National Spot Exchange Limited Page 4 of 20
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Source: SecMarx — sebi:QJA/ARB/MIRSD/DOP/25048/2022-23. 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.