sebi:WTM/MSS/MIRSD/87/2011
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Facts / Headnote
Summary proceedings disposed of without any direction
Provisions invoked
- s. 19
Regulations
- Reg. 16(1)
- Reg. 33B
- Reg. 33A
Parties
- Arihant Equity Fund Ltd.
Holding
The summary proceedings initiated vide Order dated August 11, 2005 against Arihant Equity Fund Ltd. for default in payment of registration fees as a stock broker were disposed of without any direction.
Full text
SECURITIES AND EXCHANGE BOARD OF INDIA, MUMBAI ORDER UNDER REGULATIONS 33A AND 33B OF THE SEBI (INTERMEDIARIES) REGULATIONS, 2008
IN THE MATTER OF SUMMARY PROCEEDINGS AGAINST THE STOCK BROKERS WHO DEFAULTED IN PAYMENT OF REGISTRATION FEES 1. Vide an Order dated August 11, 2005 under Regulation 16(1) of the extant SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, SEBI had appointed an Officer to conduct summary proceeding against Arihant Equity Fund Ltd. (SEBI Regn. No.INB200760633) (Arihant) who had allegedly defaulted in payment of registration fees as a stock broker. The Officer, after taking into account the reply of Arihant, submitted the report dated March 24, 2009 recommending suspension of certificate of registration of Arihant for a period of six months or till such time outstanding registration fees is paid in full, whichever is later.
2. I have considered the recommendation of the Officer and the material available on record. I find that after the initiation of the summary proceedings on August 11, 2005, Arihant has paid the outstanding registration fees as per Schedule III of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992. Hence suspension of certificate of registration is not warranted.
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Source: SecMarx — sebi:WTM/MSS/MIRSD/87/2011. 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.