sebi:QJA/GG/MIRSD/DOP/24557/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 19
- s. 12(3)
Regulations
- Reg. 3
- Reg. 13
- Reg. 8
- Reg. 14(1)
- Reg. 14(3)
- Reg. 18(1)
- Reg. 23
- Reg. 14(2)(h)
- Reg. 27
- Reg. 27(5)
- Reg. 2(g)
- Reg. 9A(1)(e)
- Reg. 40
- Reg. 39(2)
- Reg. 40(3)
- Reg. 40(7)
- Reg. 199
Parties
- Indus Portfolio Private Limited
Holding
The enquiry found that Indus Portfolio Private Limited as RTA processed transfer and transmission requests without proper documents and PAN verification, failed to maintain signature cards, system logs and alerts, and delayed duplicate share certificates and grievance resolution, thereby violating the RTA Code of Conduct and LODR transfer provisions, with a lenient view taken on negligible-value transmission lapses.
Full text
Enquiry proceedings in respect of Indus Portfolio Private Limited Page 2 of 36 (i) It processed transfer requests and transmission requests without obtaining proper documents and on the basis of deficient/fake documents. (ii) It failed to maintain proper documents, records, system log and system based alerts to exercise enhanced due diligence. (iii) There was delay in processing of the request of Duplicate Share Certificate and in resolution of grievances of shareholders.
Enquiry proceedings in respect of Indus Portfolio Private Limited Page 3 of 36 8. On January 25, 2023, Mr. Rushin Kapadia, Advocate, appeared for the Noticee and made submissions on lines of reply dated January 13, 2023. Pursuant to the hearing, the Noticee filed written submissions dated January 31, 2023.
Enquiry proceedings in respect of Indus Portfolio Private Limited Page 4 of 36 three months from such establishment or, if he has made an application for such registration within the said period of three months, till the disposal of such application:
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:QJA/GG/MIRSD/DOP/24557/2022-23. 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.