Adjudication order in the matter of Composite Investments Pvt. Ltd

Last updated: 01 October 2020

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This adjudication order concerns Composite Investments Pvt. Ltd., a SEBI-registered stockbroker and depository participant. Following a comprehensive inspection, SEBI issued a Show Cause Notice alleging several violations. These included incorrect nomenclature in client bank accounts, utilisation of credit balance clients' funds for debit balance clients, incorrect reporting of client credit balances, and improper running account authorisation forms.

Court :
SEBI

Brief :
ORDER UNDER SECTION 15-I OF THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992, READ WITH RULE 5 OF THE SEBI (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 1995, UNDER SECTION 23‐I OF SECURITIES CONTRACTS (REGULATION) ACT, 1956, READ WITH RULE 5 OF SECURITIES CONTRACTS (REGULATION) (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 2005 AND UNDER SECTION 19-H OF DEPOSITORIES ACT, 1996, READ WITH DEPOSITORIES (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES) RULES, 2005

Citation :
ADJUDICATION ORDER NO. ORDER/VV/NK/ /2020-21/9246

Daily Limit Reached