sebi:Settlement_Orders_222_Order_against_Fortune_Equity_Brokers_India_Limited
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Facts / Headnote
Application rejected
Provisions invoked
- s. 19
Regulations
- Reg. 200
- Reg. 16(C)(1)
- Reg. 16E
Parties
- Fortune Equity Brokers (India) Limited
Holding
The application by Fortune Equity Brokers (India) Limited for grant of certificate of registration as a Trading Member in the derivatives segment of NSE was rejected.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA ORDER IN THE MATTER OF APPLICATION BY FORTUNE EQUITY BROKERS (INDIA) LIMITED FOR GRANT OF CERTIFICATE OF REGISTRATION, AS A TRADING MEMBER IN THE DERIVATIVE SEGMENT OF NATIONAL STOCK EXCHANGE OF INDIA LIMITED.
1. Fortune Equity Brokers (India) Limited (hereinafter referred to as ’the applicant’), a member of the National Stock Exchange of India Limited (hereinafter referred to as submitted an application dated October 16, 2003, to Securities and Exchange Board of India (hereinafter referred to as ‘SEBI’), for registration under Securities and Exchang of India (Stock Brokers and Sub Brokers) Regulations, 1992 (hereinafter referred to as ‘the said regulations’) as a Trading Member of the derivatives segment of NSE. T application was forwarded to SEBI by NSE vide their letter dated October 21, 2003.
2. While considering the application, it was noted that the following enquiries are pending against the applicant and/or its associates. Further it was also noted that earlier, in an adjudication proceeding, SEBI had imposed monetary penalty on Shri. J.T. Poonja, director of the applicant company, in his cap Director, Fortune Financial Services (India) Limited, an associate of the applicant company.
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Source: SecMarx — sebi:Settlement_Orders_222_Order_against_Fortune_Equity_Brokers_India_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.