sebi:WTM/AB/MIRSD/DOP/29892/2023-24
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Facts / Headnote
Certificate of Registration bearing No. INZ000066637 of Omkam Commodities Pvt. Ltd. as commodities derivatives broker suspended for 3 months from date of order or till disposal of FIR filed with EOW, whichever is later
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 154
- s. 29A
Regulations
- Reg. 6
- Reg. 28(2)
- Reg. 9
- Reg. 28
- Reg. 27
- Reg. 5(e)
Parties
- Omkam Commodities Pvt. Ltd.
Holding
Omkam Commodities Pvt. Ltd. was held not to satisfy the fit and proper person criteria in Schedule II of the Intermediaries Regulations and its Certificate of Registration No. INZ000066637 as a commodities derivatives broker was suspended for 3 months or till disposal of FIR No. Spl LAC No. 110/18, whichever is later.
Full text
__________________________________________________________________________________________ Order in respect of Omkam Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. Page 2 of 22 cancellation of Certificate of Registration as recommended by the DA or any other action, as deemed fit by the Competent Authority, under Regulation 28(2) of the Intermediaries Regulations (as applicable at the relevant time) should not be taken against it. The SCN further required the Noticee to submit its reply, if any, within 21 days of receipt of the same. The SCN was duly served upon the Noticee.
__________________________________________________________________________________________ Order in respect of Omkam Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. Page 3 of 22 advised it to submit its reply/ comments/ clarifications, if any, within 15 days of receipt of the SSCN.
__________________________________________________________________________________________ Order in respect of Omkam Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. Page 4 of 22 of the recommendation of the DA (provided under Regulation 28 prior to the amendment) was incorporated in the amended Regulation 27. Thus, these proceedings are being considered under the amended Regulation 27 of the Intermediaries Regulations.
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Source: SecMarx — sebi:WTM/AB/MIRSD/DOP/29892/2023-24. 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.