sebi:WTM/SM/NRO/NRO/18550/2022-23
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Facts / Headnote
Noticees No. 1 to 3 restrained from securities market for 7 years and directed jointly and severally to refund client money with 15% interest and return securities under supervision of NSE/NCDEX with asset freeze; interim restraint against Noticees No. 5 to 8 vacated with caution.
Provisions invoked
- s. 11B
- s. 19
- s. 11(2)
Regulations
- Reg. 6
- Reg. 21
- Reg. 3(a)
- Reg. 9
- Reg. 19
- Reg. 9(e)
Parties
- Ficus Securities Pvt. Ltd.
- Ficus Commodities Private Limited
- Mr. Vinod Kumar Bansal
- Mr. Surender Singh
- Ms. Neena Bansal
- Ms. Poonam Rajbhar
- Ms. Tripta Kapoor
- Ms. Shabnam John
Holding
Ficus Securities Pvt. Ltd., Ficus Commodities Pvt. Ltd. and Vinod Kumar Bansal violated broker segregation, settlement and anti-fraud provisions by misutilising client funds and securities, and were restrained for 7 years and ordered to refund money with 15% interest and return securities, while interim restraint on Noticees No. 5 to 8 was vacated with caution.
Full text
__________________________________________________________________________________ Final Order in the matter of in the matter of Ficus Securities Pvt. Ltd. and Others Page 1 of 39 WTM/SM/NRO/NRO/18550/2022-23 BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: S. K. MOHANTY, WHOLE TIME MEMBER
__________________________________________________________________________________ Final Order in the matter of in the matter of Ficus Securities Pvt. Ltd. and Others Page 2 of 39
__________________________________________________________________________________ Final Order in the matter of in the matter of Ficus Securities Pvt. Ltd. and Others Page 3 of 39 4.6. As on November 13, 2018, a total number of 327 investors’ complaints were pending against Ficus. 4.7. Ficus had not disclosed two DP accounts to the Exchange. 4.8. Ficus had transferred funds to Ficus Commodities and to its other related parties. 4.9. Ficus had pledged its client securities.
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Source: SecMarx — sebi:WTM/SM/NRO/NRO/18550/2022-23. 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.