sebi:WTM/SM/MIRSD/DOR/18472/2022-23
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Facts / Headnote
Certificate of registration of SPA Capital Advisers Limited as a merchant banker suspended; Noticee restrained from taking up new merchant banking assignments until it obtains a certificate from the Bank that dues are cleared and it is no longer listed as a wilful defaulter.
Provisions invoked
- s. 12
- s. 12(3)
Regulations
- Reg. 6
- Reg. 27
- Reg. 9
- Reg. 200
- Reg. 2
- Reg. 6A
- Reg. 2(1)(n)
Parties
- SPA Capital Advisers Limited
Holding
The Noticee, SPA Capital Advisers Limited, failed to satisfy the 'fit and proper person' criteria under Schedule II of the Intermediaries Regulations, 2008 because it remained categorised as a wilful defaulter, and its certificate of registration as a merchant banker was suspended for so long as it continues to be so categorised.
Full text
_______________________________________________________________________________________ Order in the matter of SPA Capital Advisers Limited
_______________________________________________________________________________________ Order in the matter of SPA Capital Advisers Limited
_______________________________________________________________________________________ Order in the matter of SPA Capital Advisers Limited
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Source: SecMarx — sebi:WTM/SM/MIRSD/DOR/18472/2022-23. 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.