sebi:QJA/SVMDR/MIRSD/29428/2023-24
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Facts / Headnote
Noticee declared not a 'fit and proper person'; directions under Regulation 27 of the Intermediaries Regulations (including suspension of registration) imposed
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 3(1)
- s. 27
- s. 12(3)
- s. 29A
- s. 154
- s. 3(2)
- 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. 24(2)
Parties
- Excel Commodity & Derivative Private Limited
Holding
The Noticee, Excel Commodity & Derivative Private Limited, is not a 'fit and proper person' for holding a Certificate of Registration as a broker, having traded in 'paired contracts' on NSEL in violation of the 2007 Exemption Notification under FCRA, and directions under Regulation 27 of the Intermediaries Regulations are issued.
Full text
___________________________________________________________________________ Page 2 of 34 Order in respect of Excel Commodity & Derivative Private Limited 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 Excel Commodity & Derivative Private Limited in the matter of National Spot Exchange Limited the NSEL and its trading/clearing members who traded in the paired contracts during the relevant period.
___________________________________________________________________________ Page 4 of 34 Order in respect of Excel Commodity & Derivative Private Limited in the matter of National Spot Exchange Limited Intermediaries Regulations (as applicable at the relevant time) in respect of the violations alleged to have been committed by the Noticee mentioned at para 7 above.
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Source: SecMarx — sebi:QJA/SVMDR/MIRSD/29428/2023-24. 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.