SEBI cancels registration of 39 stock brokers, 7 commodity brokers, 22 depository participants due to non-compliance
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, on Friday (August 30) cancelled the registration of 68 market intermediaries, including 39 stock brokers, seven commodity brokers and 22 depository participants, due to non-complaints, reports said.
The market regulator stated in three separate orders that the main reason for cancelling the registration certificate of these entities, is to prevent them from misusing their SEBI registration without being an active participant of a depository or a member of a recognized stock exchange, thereby protecting unaware investors.
SEBI, in its orders, said that 39 stock brokers and seven commodity brokers were granted registrations subject to certain conditions, including the condition that they continue to be members of a recognised stock exchange.
SEBI also mentioned that these entities were expelled as members by the stock exchanges, and this information was communicated to them.
"Since the noticees are no longer holding membership of any recognized stock exchange, they no longer fulfil the conditions stipulated under...Broker Regulations, 1992 by which certificate of registration was granted to the noticees," SEBI stated in its order.
SEBI noted that depositories had informed the regulator that their agreements with these 22 depository participants were terminated and this has been communicated to them.
"Therefore, these entities are no longer participants of any depositories and do not meet the registration requirements under the DP Regulations, 2018. Accordingly, their registration has been cancelled after following the process outlined in the Intermediaries Regulations, 2008," according to the market regulator.
2. Reflection Investments
3. Action Financial Services (India) Ltd
4. Sumpoorna Portfolio Limited
5. Vineet Securities Pvt Ltd
6. Quantum Global Securities Limited
7. Wellindia Securities Limited
8. Vrise Securities Private Limited
9. Credential Stock Brokers Ltd
10. Aanya Commodities Pvt Ltd
11. Amber Solutions Pvt Ltd
12. Arcadia Share & Stock Brokers Private Limited
13. C.M. Goenka Stock Brokers Pvt Ltd
14. Destiny Securities Ltd
15. Bhavesh Dhirajlal Stock Broking Co Ltd
16. Enrich Fin & Securities Ltd
17. First Futures and Stocks Private Limited
18. Ganga Yamuna Finvest Private Limited
19. Gems Equities & Securities Pvt Ltd
20. Indovision Securities Limited
21. Olympia Securities Limited (Investnet Securities India Ltd)
22. Century Consultants Ltd
23. Merfin (India) Ltd
24. Micro Forex Equity & Derivatives Private Limited
25. Moneyflo Securities Private Limited
26. Mousumi Deb Roy (Goodluck Securities)
27. Orient Capital Markets Pvt Ltd
28. Orion Capital and Debt Market
29. Parikh & Shah Finvest Pvt Ltd
30. Prem Somani Share Brokers Pvt Ltd
31. Prime Broking Company (I) Limited
32. Rusoday Securities Ltd
33. Saarc Net Limited
34. Star Share & Stock Brokers Ltd
35. Unicon Securities Pvt Ltd (Unickon Securities Pvt Ltd)
36. Wealth Mantra Limited
37. Yuvraj Securities
38. Classic Share & Stock Broking Services Ltd
39. Grovalue Securities Private Limited
1. Wealth Mantra Commodities Pvt Ltd
2. Sumpoorna Comtrade Private Limited
3. Chaitanya Commodities Private Limited
4. BVK Pulses Online Trading Company
5. Infonic India Financial Services Private Ltd
6. Financial Leaders Commodities
2. Aarya Equity (India) Private Limited
3. ASL Capital Holdings Private Limited
4. Atlanta Share Shopee Limited
5. Wealth Mantra Limited
6. Ideal Stock Broking Private Limited
7. PUG Securities Pvt Ltd
8. Grovalue Securities Private Limited
9. Arcadia Share and Stockbrokers Private Limited
10. Punjab and Maharashtra Co-Operative Bank Limited
11. Astitva Capital Market Private Limited
12. Amtiger Consultants Private Limited
13. First Futures and Stocks Private Limited
14. Tradenext Securities Limited
15. Click2trade Capital Limited
16. Vasanti Share Brokers Ltd
17. Max Planwealth Securities Ltd
18. Action Financial Services (India) Limited
19. Bright Shares and Stocks Private Limited
20. M G Capital Services Limited
21. Integrated Stock Broking Services Pvt Ltd
22. Rajanarayan Capital Markets Services Limited
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
Tamil Nadu: Vijay’s party blames DMK ‘conspiracy’ for Karur stampede, seeks probe by SIT or CBI
India clinch Asia Cup title with five-wicket win over Pakistan
PM Modi urges Indians to go 'Vocal for Local' in festival shopping
Pakistan’s mineral show-and-tell: Sharif and Munir try to charm Trump
