sebi:WTM/AN/MIRSD/DOP/29851/2023-24
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Facts / Headnote
Certificate of Registration (INZ000032234) of K R Choksey Commodity Brokers Pvt. Ltd. cancelled
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. 25
- Reg. 27
- Reg. 5(e)
- Reg. 9(b)
- Reg. 27(3)
Parties
- K R Choksey Commodity Brokers Pvt. Ltd.
Holding
The Noticee, K R Choksey Commodity Brokers Pvt. Ltd., does not satisfy the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, and its certificate of registration as a broker is cancelled.
Full text
Order in respect of K R Choksey Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 2 of 31 was concluded on October 28, 2021 before the Competent Authority. After taking into consideration the facts and circumstances of the case and the submissions of the Noticee, the Competent Authority vide Final Order dated February 18, 2022, cancelled the certificate of registration granted to the Noticee.
Order in respect of K R Choksey Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 3 of 31 are quashed. The appeals of the brokers are allowed. The matters are remitted to the WTM to decide the matter afresh in the light of the observation made in our order dated June 9, 2022 in accordance with law after giving an opportunity of hearing to the brokers....” B. SHOW CAUSE NOTICE, REPLY AND HEARING
Order in respect of K R Choksey Commodity Brokers Pvt. Ltd. in the matter of NSEL Page 4 of 31 of the Noticee appeared before me and reiterated the submissions made in the reply dated September 4, 2023. The ARs also requested for additional 2 weeks’ time to submit post hearing submissions. The Noticee filed its post hearing submissions vide its letter dated September 27, 2023, which is on the similar lines as that of its initial reply.
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Source: SecMarx — sebi:WTM/AN/MIRSD/DOP/29851/2023-24. 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.