sebi:SO//PSD/2025-26/8063
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Facts / Headnote
Settlement of enforcement proceedings against the Applicants on agreed terms including monetary payments and voluntary debarments.
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 4(1)
- Reg. 25
- Reg. 28
- Reg. 15
- Reg. 31
- Reg. 23
Parties
- JM Financials Limited
- JM Financial Services Limited
- JM Financial Products Limited
Holding
SEBI settled the proceedings against JM Financials Limited, JM Financial Services Limited, and JM Financial Products Limited for alleged unfair trade practices in the PEL NCD public issue, on terms of monetary settlement amounts, disgorgement, and voluntary debarments.
Full text
2 31 of the SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021. 2. JM Financial Services Limited (hereinafter referred to as “JMFSL”) - Stock Broker
3 alia barring it from taking any new mandates. Thereafter, SEBI passed a confirmatory order on June 20, 2024 wherein it confirmed the directions issued that JMFL shall not act as a Lead Manager in any public issue of debt securities till March 31, 2025 or such other date as may be specified by SEBI vide by an
4 3.4 The Applicants, as a group, alleged to have made net gain of ₹1.99 Crores by dealing in 11,34,000 NCDs allotted to the 1,008 applicants in the public issue of PEL.
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Source: SecMarx — sebi:SO//PSD/2025-26/8063. 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.