sebi:WTM/KV/IMD/IMD-SEC-4/30557/2024-25
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Certificates of registration granted to LFS Broking Private Limited as Portfolio Manager, Stock Broker, Depository Participant and Research Analyst cancelled; Noticee no. 2 debarred from being employed or associated with any registered intermediary or person associated with the securities market for 5 years.
Provisions invoked
- s. 19
- s. 11(4)
- s. 11B
- s. 12
- s. 29
- s. 154
Regulations
- Reg. 6
- Reg. 13
- Reg. 11
- Reg. 9
- Reg. 10
- Reg. 5
- Reg. 21
- Reg. 24
- Reg. 7
- Reg. 35
- Reg. 25
- Reg. 27
- Reg. 26
- Reg. 32
- Reg. 37
Parties
- LFS Broking Private Limited
- Saiyad Jiyajur Rahaman
Holding
SEBI cancelled all four registrations (Portfolio Manager, Stock Broker, Depository Participant, Research Analyst) held by LFS Broking Private Limited for failing the fit and proper criteria and for misuse of its registrations by its promoter-director, and debarred Saiyad Jiyajur Rahaman from association with any registered intermediary or securities market participant for 5 years.
Full text
_____________________________________________________________________________________ Order in respect of LFS Broking Private Limited and another Page 2 of 56
_____________________________________________________________________________________ Order in respect of LFS Broking Private Limited and another Page 3 of 56
_____________________________________________________________________________________ Order in respect of LFS Broking Private Limited and another Page 4 of 56
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Source: SecMarx — sebi:WTM/KV/IMD/IMD-SEC-4/30557/2024-25. 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.