sebi:WTM/GA/79/ISD/07/06
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Facts / Headnote
Suspension of certificate of registration for 15 days
Provisions invoked
- s. 19
Regulations
- Reg. 5(1)
- Reg. 13(2)
- Reg. 13(4)
- Reg. 6(1)
- Reg. 20
- Reg. 13(1)
Parties
- IndusInd Bank Limited
Holding
The certificate of registration of M/s IndusInd Bank Limited, Depository Participant of NSDL, was suspended for a period of 15 days except for acting on the instructions of existing beneficial owners.
Full text
Page 2 of 15 DSQS floated in the secondary market, 4 million shares came through the beneficiary account opened with IBL.
Page 3 of 15 Committee shall also nominate an alternate Chairman from its trustees who shall act in the absence of the Chairman and shall exercise all powers of Chairman. Further, the Enquiry Officer observed that IBL had accepted the signature of Shri Dinesh Dalmia, one of the Trustees of the aforesaid Trust despite the fact that his name was not authorized by Chairman or alternate Chairman of the Trust as mentioned in clause 13 of the Trust deed. Therefore, there was no document available authorizing Shri Dinesh Dalmia to open the Demat Account in the name of the Trust.
Page 4 of 15 3.0 SHOW CAUSE NOTICE AND REPLY OF IBL 3.1 After considering the Enquiry Report, a Show Cause Notice dated January 25, 2005 under regulation 13(2) of the Enquiry Regulations was issued to IBL enclosing therewith a copy of the Enquiry Report.
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Source: SecMarx — sebi:WTM/GA/79/ISD/07/06. 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.