sebi:WTM/AS/MIRSD/DOP/29895/2023-24
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Facts / Headnote
Noticee declared not 'fit and proper person'; prohibited from trading in proprietary capacity and taking new clients for 15 days or till FIR ceases to be pending or Noticee is discharged/acquitted, whichever is later
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 11
- s. 27
- s. 12(3)
- s. 154
- s. 29A
- s. 131B
- s. 29A(2)
- s. 14A
- s. 131
Regulations
- Reg. 6
- Reg. 23
- Reg. 7
- Reg. 25
- Reg. 27
- Reg. 25(1)
- Reg. 5(e)
- Reg. 27(3)
Parties
- Steel City Commodities Private Limited
Holding
The Noticee, Steel City Commodities Private Limited, does not satisfy the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, and is prohibited from trading in proprietary capacity and taking new clients for 15 days or until the FIR filed against it ceases to be pending or it is discharged/acquitted, whichever is later.
Full text
___________________________________________________________________________________________________ Order in respect of Steel City Commodities Private Limited in the matter of National Spot Exchange Limited Page 2 of 36
___________________________________________________________________________________________________ Order in respect of Steel City Commodities Private Limited in the matter of National Spot Exchange Limited Page 3 of 36
___________________________________________________________________________________________________ Order in respect of Steel City Commodities Private Limited in the matter of National Spot Exchange Limited Page 4 of 36
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Source: SecMarx — sebi:WTM/AS/MIRSD/DOP/29895/2023-24. 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.