sebi:QJA/PR/MIRSD/MIRSD1/22282/2022-23
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Facts / Headnote
SCN dated October 15, 2019 and SSCN dated October 11, 2022 disposed of without any directions, limiting finding that the Noticee is not fit and proper as an intermediary
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 29
- s. 12(3)
- s. 154
- s. 29A
Regulations
- Reg. 9(f)
- Reg. 27
- Reg. 5(e)
- Reg. 7
- Reg. 28(1)
- Reg. 25(1)
- Reg. 6
- Reg. 9(b)
- Reg. 24(1)
Parties
- Dani Commodities Private Limited
Holding
The SCN dated October 15, 2019 and SSCN dated October 11, 2022 against Dani Commodities Private Limited were disposed of without any directions, while holding the Noticee to be not fit and proper as an intermediary. No cancellation or other measure was imposed in view of the prior surrender/cancellation of its registration No. INZ000042036.
Full text
Order in respect of Dani Commodities Pvt. Ltd. in the matter of NSEL Page 2 of 16 c. All information or returns relating to the trade as and when asked for shall be provided to the Central Government or its designated agency; NSEL commenced its operations in October 2008.
Order in respect of Dani Commodities Pvt. Ltd. in the matter of NSEL Page 3 of 16 thereof, an intermediary could continue to buy, sell or deal in commodity derivatives as a commodity broker, if it had made an application for such registration to SEBI within a period of 3 months from the date of merger till the disposal of such application.
Order in respect of Dani Commodities Pvt. Ltd. in the matter of NSEL Page 4 of 16 of India (Stock Brokers) Regulations, 1992 (hereinafter referred to as ‘Stock Brokers Regulations’) read with Schedule II of the Intermediaries Regulations, 2008 and Regulations 9(b) and 9(f) read with Clause A(1), A(2) and A(5) of the Schedule II of the Stock Brokers Regulations thereby rendering such entities including the Noticee, to be an entity not ‘fit and proper‘ to continue to hold its registration as Trading or Clearing Member under the Stock Brokers Regulations.
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Source: SecMarx — sebi:QJA/PR/MIRSD/MIRSD1/22282/2022-23. 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.