sebi:WTM/AS/MIRSD/DOP/29896/2023-24
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Facts / Headnote
Noticee held not a 'fit and proper person'; prohibited from trading in proprietary capacity and taking up new clients for 15 days or till the FIR ceases to be pending or Noticee is discharged/acquitted, whichever is later. DA's recommendation of cancellation not accepted.
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
- Kotak Commodity Services Private Limited
Holding
The Noticee, Kotak Commodity Services 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 up new clients for 15 days from the date of the order or until the FIR ceases to be pending or the Noticee is discharged/acquitted, whichever is later.
Full text
___________________________________________________________________________________________________ Order in respect of Kotak Commodity Services Private Ltd. in the matter of National Spot Exchange Limited Page 2 of 24
___________________________________________________________________________________________________ Order in respect of Kotak Commodity Services Private Ltd. in the matter of National Spot Exchange Limited Page 3 of 24
___________________________________________________________________________________________________ Order in respect of Kotak Commodity Services Private Ltd. in the matter of National Spot Exchange Limited Page 4 of 24
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Source: SecMarx — sebi:WTM/AS/MIRSD/DOP/29896/2023-24. 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.