sebi:WTM/MPB/EFD-1-DRA-IV/22/2019
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Application for registration as a commodity broker recommended to be rejected; recommendation for initiation of prosecution proceedings under Chapter V of FCRA noted as already acted upon by SEBI (FIR dated September 28, 2018)
Provisions invoked
- s. 19
- s. 12(1)
- s. 12
- s. 28A
- s. 27
- s. 173
- s. 24
- s. 21
- s. 29
- s. 29A
- s. 212
- s. 132
- s. 131B
- s. 29A(2)
- s. 133B
- s. 28A(1)
Regulations
- Reg. 7
- Reg. 199
- Reg. 7(1)
- Reg. 3
- Reg. 5(e)
- Reg. 28
- Reg. 5
- Reg. 27
- Reg. 31
- Reg. 23
- Reg. 7(2)
- Reg. 24
- Reg. 28(1)
- Reg. 25
- Reg. 200
- Reg. 3(1)
- Reg. 24(1)
- Reg. 39
Parties
- Anand Rathi Commodities Limited
Holding
The Noticee, Anand Rathi Commodities Limited, was found not to be a 'fit and proper person' to be registered as a commodity broker, owing to serious erosion of its reputation, fairness, honesty and integrity arising from its close association with NSEL and paired contracts, which various Courts and Authorities had found violative of FCRA and in the nature of financing transactions violative of the MPID Act.
Full text
___________________________________________________________________________________ Order in respect of Anand Rathi Commodities Limited Page 2 of 78
___________________________________________________________________________________ Order in respect of Anand Rathi Commodities Limited Page 3 of 78
___________________________________________________________________________________ Order in respect of Anand Rathi Commodities Limited Page 4 of 78
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/MPB/EFD-1-DRA-IV/22/2019. 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.