sebi:WTM/AN/MIRSD/DOP/29830/2023-24
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Facts / Headnote
Suspension of certificate of registration bearing registration no. INZ000030530 for a period of 3 months from the date of Order or till an order is passed by a Court of competent jurisdiction discharging or acquitting the Noticee, whichever is later, in exercise of powers under section 12(3) read with section 19 of the SEBI Act and regulation 27 of the Intermediaries Regulations.
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 27
- s. 12(3)
- s. 154
- s. 29A(2)
- s. 209A
Regulations
- Reg. 6
- Reg. 23
- Reg. 27
- Reg. 25(1)
- Reg. 5(e)
- Reg. 25(6)
- Reg. 9(b)
- Reg. 3(b)(i)
- Reg. 27(3)
Parties
- Bonanza Commodity Brokers Pvt. Ltd.
Holding
SEBI suspended the certificate of registration of Bonanza Commodity Brokers Pvt. Ltd. (INZ000030530) for 3 months or till discharge/acquittal by a competent court, whichever is later, holding it not a fit and proper person under the Intermediaries Regulations for dealing in paired contracts on NSEL.
Full text
Order in respect of Bonanza Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 2 of 37 B. SHOW CAUSE NOTICE, REPLY AND HEARING
Order in respect of Bonanza Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 3 of 37 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 (“SSCN”) was served on the Noticee along with the following documents:
Order in respect of Bonanza Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 4 of 37 certain documents were provided. Therefore, vide letter dated August 14, 2023, Bonanza reiterated its request to provide requisite documents.
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Source: SecMarx — sebi:WTM/AN/MIRSD/DOP/29830/2023-24. 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.