Reflection Investments

2 matters before the Securities Appellate Tribunal

Penalties and directions recorded

Pay monetary penalty of Rs 5,47,900 within one week
On infusion of Rs 1 crore reducing shortfall to Rs 5.75 crores by 31 Jan 2020, allow operation in cash segment via Terminal No. 5621
Recoup remaining Rs 5.75 crores via Rs 3 crores by 29 Feb 2020 and Rs 2.75 crores by 31 Mar 2020

SAT-appeal

Dispute over deactivation of trading terminal by NSE; grievance resolved after terminal was reactivated
Misc. Application No. 57 of 2020 in Appeal No. 36 of 2020 disposed of as terminal activated and grievance set at rest
Appeal: Misc. Application No. 57 of 2020 in Appeal No. 36 of 2020 disposed of by SAT order dated 11.02.2020
Shortfall of client funds (~Rs 6.75 crores) reported in weekly enhanced supervision submissions plus other violations alleged in NSE show cause notice.
Pay monetary penalty of Rs 5,47,900 within one week · On infusion of Rs 1 crore reducing shortfall to Rs 5.75 crores by 31 Jan 2020, allow operation in cash segment via Terminal No. 5621
Appeal: Appeal No. 36 of 2020 disposed on 23 January 2020 with limited relief on above terms

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Source: SecMarx — Reflection Investments. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (charges, outcomes, appeal chain) is cited to us.