sebi:WTM/AN/MIRSD/DOP/29710/2023-24
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Facts / Headnote
Certificate of Registration bearing no. INZ000197733 suspended for a period of three months from the date of the Order or till discharge/acquittal by a Court of competent jurisdiction, whichever is later
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 27
- s. 12(3)
- s. 154
- s. 209A
Regulations
- Reg. 27
- Reg. 6
- Reg. 5(e)
- Reg. 9(b)
Parties
- Master Money Commodity Bazar Pvt. Ltd.
Holding
The Noticee is not a fit and proper person to hold a certificate of registration as a broker and its Certificate of Registration No. INZ000197733 is suspended for three months or till discharge/acquittal by a competent court, whichever is later.
Full text
Order in respect Master Money Commodity Bazar Pvt. Ltd. in the matter of NSEL Page 2 of 23 should not be granted registration and its business as a commodities derivatives broker may be stopped.” B. SHOW CAUSE NOTICE, REPLY AND HEARING
Order in respect Master Money Commodity Bazar Pvt. Ltd. in the matter of NSEL Page 3 of 23 5. In light of the June 2022 SAT Order, it was felt necessary to furnish certain additional documents / material to the Noticee and grant an opportunity of personal hearing, before concluding the present proceedings. Accordingly, a supplementary SCN dated February 27, 2023 (hereinafter referred to as “SSCN”) was served on the Noticee along with the following documents: (i) Copy of SEBI complaint dated September 24, 2018 filed with Economic Offences Wing (hereinafter referred to as “EoW”); (ii) Copy of FIR dated September 28, 2018 filed by SEBI under section 154 of Criminal Procedure Code, 1973 (hereinafter referred to as “CrPC”); (iii) Amended Schedule II of Intermediaries Regulations.
Order in respect Master Money Commodity Bazar Pvt. Ltd. in the matter of NSEL Page 4 of 23 7.4. Noticee has neither executed any paired contracts nor it has any nexus with NSEL. Noticee has not even earned 2% of the membership fees i.e. INR 5,15,000 plus clearing member fees INR 1,00,000, as brokerage, which shows that Noticee does not have any nexus with NSEL.
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Source: SecMarx — sebi:WTM/AN/MIRSD/DOP/29710/2023-24. 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.