sebi:WTM/AB/SEBI/MIRSD/NRO/02/2020-21
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Facts / Headnote
Ex parte ad interim directions issued restraining Noticees from securities market, freezing alienation/debits of assets/bank/demat accounts except for client payments under NSE/BSE supervision, pending objections and hearing.
Provisions invoked
- s. 19
- s. 12(1)
Regulations
- Reg. 199
- Reg. 3
- Reg. 17
- Reg. 9
- Reg. 35
Parties
- Modex International Securities Limited
- Noticee Nos. 2 to 10 - directors of MISL
Holding
SEBI issued ex parte ad interim directions restraining Modex International Securities Limited and its directors (Noticee Nos. 2 to 10) from accessing the securities market and from alienating assets or debiting bank/demat accounts except for payments/delivery to clients under NSE/BSE supervision till further directions.
Full text
Ex parte ad interim order in the matter of Modex International Securities Limited Page 2 of 19 National Stock Exchange of India Ltd. (hereinafter referred to as “NSE”) and BSE Ltd. (hereinafter referred to as “BSE”) in Capital Market segment, Future and Option (F&O) segment and in Currency Derivatives segment. Further, MISL is a Depository Participant (DP) of Central Depository Services Limited (CDSL) with registration number IN-DP-205-2016.
Ex parte ad interim order in the matter of Modex International Securities Limited Page 3 of 19 (i) NSE Report states that on verification of the back office securities holding of MISL and securities available in its beneficiary accounts/with Clearing Members/Clearing Corporation as on January 24, 2020, shortfall of client’s securities amounting to Rs. 95.29 crore was observed. The details of non- availability of securities are as under:
Ex parte ad interim order in the matter of Modex International Securities Limited Page 4 of 19 Sr, No. Client Code Client Name ISN Security Name Quantity Price (RS. ) Amount (Crore) 1 MX725 Indervir Singh Juneja INE325C01035 Dollar Industries Limited 80,000 155 1.24 2 MX750 SharadSubram anyan INE325C01035 Dollar Industries Limited 78,000 155 1.21 3 MX550 VasantSubram anyan INE411F01010 Kama Holdings Limited 25,000 5,557 13.89 4 MX750 SharadSubram anyan INE411F01010 Kama Holdings Limited 15,000 5,557 8.34 5 MX902 T K Ramasubramany an And Sons INE411F01010 Kama Holdings Limited 6,500 5,557 3.61 6 MX951 KiranSuri INE411F01010 Kama Holdings Limited 6,000 5,557 3.33 7 MX845 Last Peak Data Private Limited INE411F01010 Kama Holdings Limited 5,600 5,557 3.11 8 MX814 Karan Kumar INE411F01010 Kama Holdings Limited 5,500 5,557 3.06 9 MX725 Indervir Singh Juneja INE411F01010 Kama Holdings Limited 2,291 5,557 1.27 10 MX750 SharadSubram anyan INE800H01010 Omaxe Ltd 150,000 155 2.33 11 MX725 Indervir Singh Juneja INE800H01010 Omaxe Ltd 149,500 155 2.32 12 MX845 Last Peak Data Private Limited INE800H01010 Omaxe Ltd 100,000 155 1.55 13 MX550 VasantSubram anyan INE800H01010 Omaxe Ltd 35,000 155 0.54 14 MX951 KiranSuri INE800H01010 Omaxe Ltd 31,000 155 0.48 Total 46.30
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Source: SecMarx — sebi:WTM/AB/SEBI/MIRSD/NRO/02/2020-21. 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.