sebi:QJA/SVMDR/MIRSD/DOP/28965/2023-24
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. 11(4)
- s. 11B
- s. 21
- 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. 25
- Reg. 28(1)
- Reg. 5(e)
- Reg. 24(2)
Parties
- Suresh Rathi Commodities Pvt. Ltd.
Holding
The order addresses whether the Noticee, Suresh Rathi Commodities Pvt. Ltd., satisfies the 'fit and proper person' criteria as a SEBI-registered intermediary in light of its trading in NSEL paired contracts. The adjudicating authority rejected several of the Noticee's procedural and substantive objections, holding that SEBI has jurisdiction to determine fit and proper status and that the DOP Order does not improperly override SEBI Regulations.
Full text
___________________________________________________________________________ Page 2 of 36 Order in respect of Suresh Rathi Commodities Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited to certain conditions which, inter alia, included “no short sale by members of the exchange shall be allowed; that all outstanding positions of the trade at the end of the day shall result 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 36 Order in respect of Suresh Rathi Commodities Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited
___________________________________________________________________________ Page 4 of 36 Order in respect of Suresh Rathi Commodities Pvt. Ltd. in the matter of trading on the National Spot Exchange Limited Member in terms of Regulation 5(e) of the Stock Broker Regulations read with Regulation 27(iv) of the Stock Broker Regulations read with Schedule II of the Intermediaries Regulations.
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/SVMDR/MIRSD/DOP/28965/2023-24. 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.