sebi:Settlement_Orders_211_Order_against_I_Trade_Limited
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Facts / Headnote
Censure with advice to be more careful in future
Provisions invoked
- s. 19
Regulations
- Reg. 13(4)
- Reg. 5
- Reg. 15
Parties
- I Trade Limited
Holding
SEBI censured M/s I Trade Limited, sub-broker Registration No. INS 010790132, and advised it to be more careful in future and diligently adhere to the SEBI Act, 1992, Regulations, rules and circulars thereunder.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA ORDER Under Regulation 13(4) of SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 against I Trade Limited, Reg: 010790132, Sub-broker affiliated to M/s MSE Financial Services Limited. Member, Stock Exchange, Mumbai.
Whereas Securities and Exchange Board of India ( hereinafter referred to as SEBI) conducted an inspection of the books of accounts and other documents of M/s I Trad sub-broker, SEBI Registration No. INS 010790132 (hereinafter referred to as ITL) for the period April 2000 to June 2002; and
whereas, the inspection team observed certain irregularities allegedly committed by ITL, namely, confirmation memos were not in the prescribed format, not maintained margin money, delayed delivery or payment to the clients, inadequate maintenance of the client database, non- segregation of clients funds from own funds and delay in m margin and pay-in requirements to the Exchange, in violation of Regulation 15 read with Schedule II of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 (h referred to as Broker Regulations) SEBI Circulars dated July 27, 2000, May 17, 2002, November 18, 1993 and May 21, 1997 and also the byelaws, rules and regulati stock exchange; and
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Source: SecMarx — sebi:Settlement_Orders_211_Order_against_I_Trade_Limited. 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.