sebi:WTM/ASB/MIRSD/DOP/29768/2023-24
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Facts / Headnote
Certificate of Registration (No. INZ000017536) of GEPL Commodities Private Ltd. as a commodities derivatives broker suspended for a period of three months from the date of the order or till disposal of the FIR filed with EOW, whichever is later.
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 27
- s. 154
- s. 29A
- s. 131B
- s. 131
Regulations
- Reg. 6
- Reg. 9
- Reg. 28
- Reg. 27
- Reg. 5(e)
Parties
- GEPL Commodities Pvt. Ltd.
Holding
The Noticee, GEPL Commodities Pvt. Ltd., failed to comply with the 'fit and proper person' criteria specified in Schedule II of the SEBI (Intermediaries) Regulations, 2008 on a continuous basis, and its Certificate of Registration as a commodities derivatives broker was suspended for three months or until disposal of the EOW FIR, whichever is later.
Full text
________________________________________________________________________________________ Order in respect of GEPL Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. 2 / 23 it. The SCN further required the Noticee to submit its reply, if any, within 21 days of receipt of the same. The SCN was duly served upon the Noticee.
________________________________________________________________________________________ Order in respect of GEPL Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. 3 / 23 hearing was scheduled on September 14, 2023, for which notice of hearing was duly served upon the Noticee. On the aforementioned hearing date, M Mulla Associates (Authorised Representative) appeared on behalf of the Noticee and sought adjournment. The request of the Noticee was acceded to and another opportunity of personal hearing was granted on September 27, 2023, which was attended by Authorised Representative of the Noticee and arguments were made in line with the aforementioned replies filed with SEBI.
________________________________________________________________________________________ Order in respect of GEPL Commodities Pvt. Ltd. in the matter of National Spot Exchange Ltd. 4 / 23 of ‘paired contracts’ and not the broker members of NSEL. The Noticee had no role to play in NSEL’s decision to launch ‘paired contracts’.
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Source: SecMarx — sebi:WTM/ASB/MIRSD/DOP/29768/2023-24. 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.