sebi:QJA/SVMDR/MIRSD/28227/2023-24
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Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 12(3)
- s. 154
- s. 3(2)
- s. 29A
- s. 29A(2)
Regulations
- Reg. 6
- Reg. 27
- Reg. 9
- Reg. 7
- Reg. 9(b)
- Reg. 28
- Reg. 25
- Reg. 26
- Reg. 28(1)
- Reg. 5(e)
- Reg. 17(1)
Parties
- Leo Global Commodities Pvt. Ltd.
Holding
The order addresses SEBI's proceedings against Leo Global Commodities Pvt. Ltd. as a commodity broker in connection with paired contracts traded on NSEL, and rejects the Noticee's contentions regarding non-adherence to principles of natural justice and non-supply of relied-upon documents.
Full text
___________________________________________________________________________ Page 2 of 34 Order in respect of Leo Global Commodities Pvt. Ltd. in the matter of National Spot Exchange Limited in delivery and that all information or returns relating to the trade as and when asked for shall be provided to the Central Government or its designated agency”.
___________________________________________________________________________ Page 3 of 34 Order in respect of Leo Global Commodities Pvt. Ltd. in the matter of National Spot Exchange Limited b. Contracts with Settlement Period going beyond 11 days Some of the contracts offered for trade on NSEL had settlement periods exceeding 11 days and therefore, such contracts were “non-transferable specific delivery” contracts under the FCRA. As per the FCRA, the “ready delivery contracts” were required to be settled within 11 days of the trade and hence, the contracts traded on the NSEL which provided settlement schedule for a period exceeding 11 days were not allowed under the aforesaid Notification.
___________________________________________________________________________ Page 4 of 34 Order in respect of Leo Global Commodities Pvt. Ltd. in the matter of National Spot Exchange Limited
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Source: SecMarx — sebi:QJA/SVMDR/MIRSD/28227/2023-24. 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.