sebi:WTM/AN/NRO/NRO/27625/2023-24
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Facts / Headnote
Cancellation of certificate of registration of F6 Finserve Private Limited
Provisions invoked
- s. 19
- s. 12A
- s. 23D
- s. 12(3)
Regulations
- Reg. 6
- Reg. 27
- Reg. 5
- Reg. 21
- Reg. 3(a)
- Reg. 9
- Reg. 9(e)
- Reg. 27(i)
- Reg. 9(a)
Parties
- F6 Finserve Private Limited
Holding
The certificate of registration of F6 Finserve Private Limited as stock broker is cancelled under Section 12(3) read with Section 19 of the SEBI Act and Regulation 27 of the Intermediaries Regulations.
Full text
Final Order in respect of F6 Finserve Private Limited Page 2 of 25 2. SEBI conducted a comprehensive inspection of the Noticee’s broking activities from August 10, 2017 to August 30, 2017 for the period between April 01, 2015 and July 31, 2017 (hereinafter referred to as ‘Inspection period’). After completion of the said inspection, the inspection report was forwarded to the Noticee vide letter and email dated February 2, 2018 for its comments. However, no comments were received. Thereafter, SEBI passed an Interim Order dated May 29, 2018 under sections 11(4), 11B and 11D of the SEBI Act against the Noticee and other related parties inter alia restraining their access to the securities markets, prohibiting them from dealing in securities and directing them to cease and desist from undertaking any activity in the securities market. Subsequently, vide an Order dated December 14, 2018, the directions issued in the Interim Order were confirmed.
Final Order in respect of F6 Finserve Private Limited Page 3 of 25 4. The DA issued a Show Cause Notice dated May 25, 2022 (hereinafter referred to as “SCN”) to the Noticee which was served by way of Public notice dated August 31, 2022 in Hindustan Times (Delhi) and Gurgaon Mail. Further, the Noticee was granted an opportunity of personal hearing on September 19, 2022 vide the said notice. However, the Noticee neither replied to the SCN nor appeared for the hearing.
Final Order in respect of F6 Finserve Private Limited Page 4 of 25 5.7. Non-submission of information in violation of Regulation 21 of Stock Brokers Regulations and Clause A (5) of the Code of Conduct for Stock Brokers as prescribed under Schedule II read with Regulation 9 of Stock Brokers Regulations and Regulation 27(ix) of Stock Brokers Regulations.
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Source: SecMarx — sebi:WTM/AN/NRO/NRO/27625/2023-24. 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.