sebi:QJA/ARB/MIRSD/DOP/26351/2023-24
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Facts / Headnote
Certificate of Registration (No. INZ000022932) of Skung Commxperts Limited as a stock broker cancelled with immediate effect; noticee directed to inform existing clients and allow withdrawal/transfer of securities and funds within 15 days (and transfer to another registered broker within a further 15 days if not withdrawn).
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 29A
- s. 154
- s. 3(2)
- s. 4A
- s. 131B
- s. 29A(2)
Regulations
- Reg. 7
- Reg. 6
- Reg. 5
- Reg. 28(2)
- Reg. 9
- Reg. 23
- Reg. 28
- Reg. 27
- Reg. 28(1)
- Reg. 5(e)
- Reg. 24(2)
- Reg. 25(3)
Parties
- Skung Commxperts Limited
Holding
SEBI cancelled the Certificate of Registration of Skung Commxperts Limited as a stock broker, holding that the noticee does not satisfy the 'fit and proper person' criteria under Schedule II of the SEBI (Intermediaries) Regulations, 2008, and that its continuance as a broker is detrimental to the interest of the securities market.
Full text
__________________________________________________________________________________________ Order in respect of Skung Commxperts Limited in the matter of National Spot Exchange Limited
__________________________________________________________________________________________ Order in respect of Skung Commxperts Limited in the matter of National Spot Exchange Limited
__________________________________________________________________________________________ Order in respect of Skung Commxperts Limited in the matter of National Spot Exchange Limited
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Source: SecMarx — sebi:QJA/ARB/MIRSD/DOP/26351/2023-24. 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.