sebi:WTM/SR/MIRSD1/02/2013/04
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Facts / Headnote
Cancellation of certificate of registration bearing SEBI Registration no. INE261344936, effective on expiry of twenty one days from the date of order
Provisions invoked
- s. 15A
- s. 15
- s. 19
Regulations
- Reg. 27
- Reg. 8
- Reg. 28(2)
- Reg. 7
- Reg. 24
- Reg. 25
Parties
- Mudra Bullions Private Limited
Holding
The Whole Time Member cancelled the certificate of registration of Mudra Bullions Private Limited (INE261344936). MBPL was held to have violated section 15A(a) of the SEBI Act read with regulation 27(xv) of the Broker Regulations and rule 8(1)(f) of the SCR Rules and to be not fit and proper.
Full text
Page 2 of 10 Saimira Theatre Ltd. (hereinafter referred to as “PSTL”). In the matter of PSTL, SEBI vide order dated April 23, 2009 restrained certain entities. Pursuant to the clarification sought by SEBI, MCXSX vide letter dated June 18, 2009 forwarded the undertakings dated June 16, 2009 of Mr. Shah and Mr. Hundia, to SEBI. The said undertakings by Mr. Shah and Mr. Hundia, inter alia, mentioned that they were not associated with PSTL in any capacity and that there was/ is no adverse action whatsoever, such as enquiry / adjudication (penalty imposed)/ suspension/ cancellation/ prosecution/ debarring from capital market, initiated/ pending/ completed against them. SEBI granted registration to MBPL on July 13, 2009 based on these undertakings. MBPL commenced trading on the exchange on September 1,
Page 3 of 10 This allegation is based on statements in the balance sheet of MBPL which stated that “the company is engaged in 2 business segments namely Trading in Bullions & Metals on MCX, Trading in Foreign currency on MCX-SX”.
Page 4 of 10 7. Considering the replies, an opportunity of personal hearing in the matter was also granted to MBPL on March 20, 2013. The hearing was attended by Mr. Shah along with advocate Mr. S.H. Bohra representing MBPL, wherein
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Source: SecMarx — sebi:WTM/SR/MIRSD1/02/2013/04. 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.