sebi:WTM/GM/MIRSD/DOP/13723/2021-22
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Facts / Headnote
Proceedings closed; Noticee found not fit and proper but no further directions issued in light of surrender/cancellation of certificate of registration.
Provisions invoked
- s. 19
- s. 12
- s. 28A
- s. 27
- s. 21
- s. 29A
Regulations
- Reg. 6
- Reg. 9(f)
- Reg. 27
- Reg. 5
- Reg. 9(b)
- Reg. 28(1)
- Reg. 5(e)
Parties
- Camco Commodities Pvt. Ltd.
Holding
The Noticee, Camco Commodities Pvt. Ltd., was found not to be a 'fit and proper person' under Schedule II of the SEBI (Intermediaries) Regulations, 2008 read with Regulation 5(e) of the Stock Broker Regulations, due to its association with NSEL and facilitation of client trading in paired contracts. However, no further directions were issued as the Noticee had already surrendered its certificate of registration.
Full text
Page 1 of 24 Order in the matter of Camco Commodities Pvt. Ltd. WTM/GM/MIRSD/DOP/13723/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA
Page 2 of 24 Order in the matter of Camco Commodities Pvt. Ltd. stipulated that all outstanding positions at the end of the day, must result in delivery of commodities. It was also stipulated that all information or returns relating to the trade as and when asked for shall be provided to the Central Government or its designated agency. Thereafter, NSEL commenced operations in October 2008.
Page 3 of 24 Order in the matter of Camco Commodities Pvt. Ltd. “the condition of ‘no short sale by members of the exchange shall be allowed’ was not being met by NSEL”.
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Source: SecMarx — sebi:WTM/GM/MIRSD/DOP/13723/2021-22. 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.