sebi:WTM/AN/MIRSD/DOP/29743/2023-24
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Facts / Headnote
Certificate of registration bearing no. INZ000078934 suspended for 3 months or till discharge/acquittal by competent court, whichever is later
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 3(1)
- s. 27
- s. 12(3)
- s. 154
- s. 3(2)
- s. 29A(2)
- s. 209A
Regulations
- Reg. 6
- Reg. 24
- Reg. 27
- Reg. 5(e)
- Reg. 2(1)(k)
- Reg. 9(b)
Parties
- Airan Commodities Pvt. Ltd.
Holding
The certificate of registration of Airan Commodities Pvt. Ltd. bearing registration no. INZ000078934 is suspended for 3 months from the date of Order or till an order discharging or acquitting the Noticee by a competent court, whichever is later, for failure to satisfy 'fit and proper person' criteria.
Full text
Order in respect of Airan Commodities Pvt. Ltd. in the matter of NSEL Page 2 of 30 3. Pursuant to the DA Report, a post enquiry show cause notice dated February 25, 2020 (“SCN”) was issued to the Noticee, alongwith copies of (i) the aforesaid DA Report; (ii) Finance Ministry letter dated December 30, 2014 to Forwards Market Commission (“FMC”); (iii) Hon’ble Bombay HC’s order in criminal bail application no. 1263 of 2014 in Jignesh Prakash Shah vs. State of Maharashtra dated August 22, 2014.
Order in respect of Airan Commodities Pvt. Ltd. in the matter of NSEL Page 3 of 30 before concluding the present proceedings. Accordingly, a supplementary SCN dated February 27, 2023 (“SSCN”) was served on the Noticee along with the following documents:
Order in respect of Airan Commodities Pvt. Ltd. in the matter of NSEL Page 4 of 30 6.2 CONTENTION 2: SEBI COULD NOT HAVE INITIATED ENQUIRY PROCEEDINGS UNDER THE INTERMEDIARIES REGULATIONS
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Source: SecMarx — sebi:WTM/AN/MIRSD/DOP/29743/2023-24. 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.