sebi:WTM/MPB/NRO/06/2019
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Facts / Headnote
Interim order dated March 20, 2018 confirmed against Ficus Securities Pvt. Ltd., Ficus Commodities Pvt. Ltd. and all directors except Mr. Prashant Kumar Nayak, against whom interim directions discontinued but with continuing responsibility as director to ensure FCPL compliance
Provisions invoked
- s. 19
- s. 11(2)
Parties
- Ficus Securities Pvt. Ltd.
- Ficus Commodities Pvt. Ltd.
- Mr. Vinod Kumar Bansal
- Mr. Surender Singh
- Ms. Neena Bansal
- Mr. Prashant Kumar Nayak
- Ms. Poonam Rajbhar
- Ms. Tripta Kapoor
- Ms. Shabnam John
Holding
The interim directions issued vide order dated March 20, 2018 are confirmed against FSPL, FCPL and their directors except Mr. Prashant Kumar Nayak, against whom they are discontinued subject to his continuing responsibility as director for FCPL compliance.
Full text
_________________________________________________________________________________ Order in respect of Ficus Securities Pvt. Ltd., Ficus Commodities Pvt. Ltd. & Ors Page 2 of 31 Metropolitan Stock Exchange of India Ltd. (MSEI), a stock broker in equity derivative segment and Currency Derivative Segment of MSEI, and as a Depository Participant of Central Depository Services Ltd. (CDSL).
_________________________________________________________________________________ Order in respect of Ficus Securities Pvt. Ltd., Ficus Commodities Pvt. Ltd. & Ors Page 3 of 31 i. The Broker was not available on the aforesaid address. A notice mentioning “805 ficus shifted to 810” was pasted on the main door of 805 premise. ii. Only 5 employees, doing mutual fund distribution related work, were present. Upon enquiring about the director and other employees, one of the employee, informed that Mr. Vinod Kumar Bansal (Director of FSPL) is out somewhere and will not be able to come to office. Further, it was also informed that the compliance Officer, Mr. Pradeep and many other employees have left their jobs few days back. iii. Upon inspection team’s request, one of the employees Ms. Shabnam provided access to the back office and the data like trail balance, clients’ legers, Client master, etc. for the period from 01.04.2015 to till date of inspection i.e. from April 01, 2015 till January 23, 2018 retrieved in the presence of the employees. iv. Subsequently, FSPL was asked to provide certain information/details.
_________________________________________________________________________________ Order in respect of Ficus Securities Pvt. Ltd., Ficus Commodities Pvt. Ltd. & Ors Page 4 of 31 c) By transferring clients’ funds to FCPL, FSPL is in violation of SEBI Circular no. SMD/SED/CIR/93/23321 dated November 18, 1993 and Clause 15 of Rights and Obligations document for Stock Broker, Sub-brokers and Clients as prescribed by SEBI vide its circular no. CIR/MIRSD/16/2011 dated August 22, 2011.
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Source: SecMarx — sebi:WTM/MPB/NRO/06/2019. 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.