sebi:WTM/AN/NRO/NRO/23786/2022-23
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Facts / Headnote
Cancellation of certificate of registration of F6 Commodities Private Limited (INZ000037335)
Provisions invoked
- s. 19
- s. 12(3)
Regulations
- Reg. 27
- Reg. 9
Parties
- F6 Commodities Private Limited
Holding
The certificate of registration of F6 Commodities Private Limited (INZ000037335) as a Stock Broker in the Commodity Derivative Segment is cancelled under Section 12(3) read with Section 19 of the SEBI Act and Regulation 27 of the Intermediaries Regulations, 2008.
Full text
Order in respect of F6 Commodities Private Limited in the matter of F6 Finserve Private Limited Page 2 of 5 said inspection, it was observed that the Noticee, which is one of the associates of F6 Finserve Private Limited, was liable for action under Regulation 27 (i) and (ii) of Stock Broker Regulations, 1992. The period covered in the inspection was from April 01, 2015 till July 31, 2017 (hereinafter referred to as ‘Inspection period’).
Order in respect of F6 Commodities Private Limited in the matter of F6 Finserve Private Limited Page 3 of 5 calling upon it to show cause in terms of Regulation 27 of the Intermediaries Regulations, 2008 as to why action as recommended by the DA should not be taken against the Noticee.
Order in respect of F6 Commodities Private Limited in the matter of F6 Finserve Private Limited Page 4 of 5 11.1. The Noticee was registered with SEBI as a Stock Broker in Commodity Derivative Segment of MCX, NCDEX and NMCE with the Registration no. INZ000037335. 11.2. Vide email dated December 27, 2019, MCX informed SEBI that the Noticee was declared as a defaulter by MCX on May 18, 2018 due to the Noticee’s failure to honour the IGRC order by paying admissible claim amounting to INR 33,24,934.78. Further, SEBI was informed that the Noticee was expelled for non-cooperation in Inspection on March 13, 2019. 11.3. NCDEX vide email dated December 27, 2019 informed SEBI that the Noticee was declared a defaulter on May 24, 2018 in terms of SEBI circular no. SEBI/HO/CDMRD/DMP/CIR/P/2016/102 dated September 27, 2016. 11.4. The Noticee ceased to be a member of MCX and was declared a defaulter by both MCX and NCDEX and not readmitted as a member within six months.
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Source: SecMarx — sebi:WTM/AN/NRO/NRO/23786/2022-23. 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.