sebi:QJA/VS/MIRSD/DOP/28285/2023-24
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Certificate of Registration (No. INZ000030831) of Progressive Comtrade Private Limited cancelled
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 3(1)
- s. 27
- s. 154
- s. 3(2)
- s. 131B
- s. 29A(2)
Regulations
- Reg. 6
- Reg. 28(2)
- Reg. 9
- Reg. 7
- Reg. 28
- Reg. 27
- Reg. 28(1)
- Reg. 5(e)
- Reg. 8
- Reg. 2(1)(k)
Parties
- Progressive Comtrade Private Limited
Holding
The Certificate of Registration of Progressive Comtrade Private Limited as a commodity broker is cancelled for facilitating trading in 'paired contracts' on NSEL in violation of the conditions of the 2007 Exemption Notification and for not being a 'fit and proper person'.
Full text
_____________________________________________________________________________________ Order in respect of Progressive Comtrade Private Limited in the matter of National Spot Exchange Limited Page 2 of 38
_____________________________________________________________________________________ Order in respect of Progressive Comtrade Private Limited in the matter of National Spot Exchange Limited Page 3 of 38
_____________________________________________________________________________________ Order in respect of Progressive Comtrade Private Limited in the matter of National Spot Exchange Limited Page 4 of 38
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Source: SecMarx — sebi:QJA/VS/MIRSD/DOP/28285/2023-24. 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.