sebi:WTM/AS/MIRSD/DOP/29856/2023-24
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Facts / Headnote
Certificate of Registration (INZ000034837) of KK Comtrade Private Limited suspended as commodity derivatives broker for three months or till the FIR ceases to be pending or the Noticee is discharged/acquitted, whichever is later.
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 27
- s. 12(3)
- s. 154
- s. 29A
- s. 131B
- s. 29A(2)
- s. 14A
- s. 131
Regulations
- Reg. 6
- Reg. 7
- Reg. 27
- Reg. 5(e)
Parties
- KK Comtrade Private Limited
Holding
SEBI held that KK Comtrade Private Limited does not satisfy the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, both on account of its conduct in facilitating trading in 'paired contracts' on NSEL and on account of a pending FIR attracting the disqualification under Clause 3(b)(i), and accordingly suspended its certificate of registration for three months or until the FIR ceases to be pending or the Noticee is discharged/acquitted, whichever is later.
Full text
___________________________________________________________________________ Order in respect of KK Comtrade Private Limited in the matter of National Spot Exchange Limited Page 2 of 29
___________________________________________________________________________ Order in respect of KK Comtrade Private Limited in the matter of National Spot Exchange Limited Page 3 of 29
___________________________________________________________________________ Order in respect of KK Comtrade Private Limited in the matter of National Spot Exchange Limited Page 4 of 29
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Source: SecMarx — sebi:WTM/AS/MIRSD/DOP/29856/2023-24. 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.