sebi:WTM/SR/SEBI/EFD-DRA2/52/08/2017
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Facts / Headnote
Noticees restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly, for a period of ten (10) years from the date of this Order; directed not to alienate assets till full settlement of investor claims; SEBI to take up client/investor claims with CB-CID.
Provisions invoked
- s. 19
Regulations
- Reg. 6
- Reg. 9
Parties
- Orion Capital and Debt Market (PAN: AACFO9456G)
- Orion Broking Services India Pvt. Ltd. (PAN AABCO2694L)
- Mr. Johnson Puthiaparambil Jose (PAN: AFZPJ2029Q)
- Ms. Cinzy Johnson (PAN: AHNPC5874A)
- Mr. Joseph Puthiaparambil Chacko (PAN: AKUPJ0403G)
Holding
Orion Capital and Orion Broking and their Partners/Directors violated the conditions of registration under Regulation 9 of the SEBI (Stock Brokers and Sub Brokers) Regulations, 1992 read with clauses A(1), A(3), A(5) and B(1) of Schedule II, and are restrained from accessing the securities market for ten years.
Full text
Page 2 of 12 4. Orion Broking is an associate company of Orion Capital. Orion Broking is a Member of Multi Commodity Exchange of India Ltd. (“MCX”; FMC Unique Code (FUC): MCX/TM/CORP/1875), National Commodity and Derivatives Exchange Ltd. (“NCDEX”; FUC: NCDEX/TCM/CORP/1055), National Multi-Commodity Exchange of India Ltd. (“NMCE”; FUC: NMCE/TCM/CORP/0402), ACE Derivatives and Commodity Exchange Ltd. (“ACE”; FUC: ACEL/TM/CORP/0180) and Universal Commodity Exchange Ltd. (“UCX”; FUC: UCX/TM/CORP/0086) in the commodities market. Orion Capital and Orion Broking have the same registered office at 1068, 1st Floor, Shanmugam Complex, MTP Road, Coimbatore – 641002 and Corporate office at Door No. 1, Next to Crompton & Greaves Ltd., M.K. Complex East, 3rd floor, Periyasamy Road, Coimbatore – 641002. Mr. Johnson Puthiaparambil Jose and Mrs. Cinzy Johnson are Managing Partners and Mr. Joseph Puthiaparambil Chacko a partner of Orion Capital. Mr. Johnson Puthiaparambil Jose and Mrs. Cinzy Johnson are Promoters and Directors of Orion Broking.
Page 3 of 12 ii. The aforesaid entities and persons shall cease and desist from undertaking any activity in the securities market, directly or indirectly, in any manner whatsoever till further directions; iii. The aforesaid entities and persons are directed to provide a full inventory of all their assets, whether movable or immovable, or any interest or investment or charge in any of such assets, including details of their bank and demat accounts within 5 working days from the date of receipt of this order. iv. The aforesaid entities and persons are directed not to dispose off or alienate any assets, whether movable or immovable, or any interest or investment or charge in any of such assets except with the prior permission of SEBI”.
Page 4 of 12 Ms. Cincy Johnson is not the managing partner of Orion Capital. As per the initial deed she was managing partner, however, at the time of starting the business, her role was changed to sleeping partner. These changes and revised deed also updated to the exchanges.” Mr. Johnson also provided his e-mail address i.e. johnsonputhiyaparampil@hotmail.com for further communication.
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Source: SecMarx — sebi:WTM/SR/SEBI/EFD-DRA2/52/08/2017. 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.