sebi:QJA/MK/MIRSD/DOP/28291/2023-24
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Facts / Headnote
Proceedings concerning whether the Noticee satisfies the 'fit and proper' criteria under Schedule II of the Intermediaries Regulations and whether its Certificate of Registration should be cancelled; final disposition not stated in the excerpt
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 27
- s. 12(3)
- s. 154
- s. 29A
- s. 131B
- s. 14A
- s. 131
Regulations
- Reg. 7
- Reg. 28
- Reg. 27
- Reg. 5(e)
Parties
- Northeast Commodities Private Limited
Holding
The limited issue before the WTM was whether Northeast Commodities Private Limited satisfies the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, 2008, and whether its Certificate of Registration should be cancelled as recommended by the Designated Authority. The excerpt indicates the Noticee's facilitation of paired contracts on NSEL seriously questioned its reputation, fairness, honesty, integrity and character.
Full text
___________________________________________________________________________ Order in respect of Northeast Commodities Private. Limited. in the matter of National Spot Exchange Limited Page 2 of 25
___________________________________________________________________________ Order in respect of Northeast Commodities Private. Limited. in the matter of National Spot Exchange Limited Page 3 of 25
___________________________________________________________________________ Order in respect of Northeast Commodities Private. Limited. in the matter of National Spot Exchange Limited Page 4 of 25
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Source: SecMarx — sebi:QJA/MK/MIRSD/DOP/28291/2023-24. 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.