sebi:WTM/AN/MIRSD/DOP/29854/2023-24
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Facts / Headnote
Certificate of registration (INZ000027833) suspended for three months from the date of the Order or till a Court of competent jurisdiction discharges or acquits the Noticee, whichever is later; Noticee declared not to satisfy the 'fit and proper person' criteria.
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. 9(f)
- Reg. 5
- Reg. 23
- Reg. 9(b)
- Reg. 25
- Reg. 27
- Reg. 25(1)
- Reg. 5(e)
- Reg. 27(3)
Parties
- Multigain Commodities Services Private Limited
Holding
The Noticee, Multigain Commodities Services Private Limited, does not satisfy the 'fit and proper person' criteria specified in Schedule II of the Intermediaries Regulations, and its certificate of registration as a stock broker is suspended for three months or until a competent court discharges or acquits it, whichever is later.
Full text
Final Order in respect of Multigain Commodities Services Private Limited in the matter of NSEL Page 1 of 32 WTM/AN/MIRSD/DOP/ 29854/2023-24
Final Order in respect of Multigain Commodities Services Private Limited in the matter of NSEL Page 2 of 32 B. SHOW CAUSE NOTICE, REPLY AND HEARING
Final Order in respect of Multigain Commodities Services Private Limited in the matter of NSEL Page 3 of 32 Supplementary SCN dated February 27, 2023 (“SSCN”) was served on the Noticee along with the following documents: 5.1. Copy of SEBI complaint dated September 24, 2018 filed with Economic Offences Wing (“EoW”); 5.2. Copy of FIR dated September 28, 2018 filed by SEBI under section 154 of Criminal Procedure Code, 1973 (“CrPC”); and 5.3. Amended Schedule II of Intermediaries Regulations.
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Source: SecMarx — sebi:WTM/AN/MIRSD/DOP/29854/2023-24. 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.