SEBI said in its order that 39 stock brokers and 7 commodity brokers were granted registration under certain conditions. This included the condition that they would continue to be members of a recognised stock exchange. Observing that these entities are no longer members of any stock exchange, Sebi said they no longer meet the conditions required for stockbroker registration under the Broker Regulations 1992.

The Securities and Exchange Board of India (SEBI) has cancelled the registration of 39 stock brokers and 7 commodity brokers. The registration of these brokers has been cancelled due to failure to meet the registration requirements. Besides, Sebi has also cancelled the registration of 22 depository participants who are no longer associated with any depository. In three separate orders, Sebi said the main reason for cancelling the certificate of registration of these entities is to prevent them from misusing the Sebi registration without being an active participant of the depository or a member of a recognised stock exchange, so as to protect the investors.

Despite cancellation of registration, these entities are liable for any action taken as stockbrokers or commodity brokers or depository participants. They are also responsible for paying any outstanding fees, dues and interest due to SEBI.

Condition And Reason Of Sebi Cancels Registration

The 39 stock brokers whose registrations have been cancelled include Bezel Stock Brokers, Reflection Investments, Sampoorna Portfolios, Vineet Securities, Quantum Global Securities, Wellindia Securities, Vrij Securities, Credential Stock Brokers, Anya Commodities, Amber Solutions, Arcadia Shares & Stock Brokers, CM Goenka Stock Brokers and Destiny Securities.

The 7 commodity brokers whose registration has been cancelled are Wealth Mantra Commodities, Sampoorna Comtrade, Chaitanya Commodities, BVK Pulses Online Trading Company, Infonic India Financial Services, Financial Leaders Commodities and WellIndia Commodities.

The 22 entities whose registration as depository participants has been cancelled include Integrated Stock Broking Services, Moongipa Investments, ASL Capital Holdings, Atlanta Share Shoppe, Wealth Mantra, Punjab and Maharashtra Co-operative Bank, Max Planwealth Securities, Bright Shares and Stock.

SEBI has banned these 39 stock brokers. If you have Demat account with any of these be cautious!

1. Bezel Stock Brokers Private Limited
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

SEBI has banned these 39 stock brokers. Do share it with others to caution them!

Capital Requests controller Sebi on Friday cancelled the enrollment of 39 stock brokers and seven commodity brokers after they failed to meet the enrollment conditions.

also, the controller cancelled the enrollment of 22 repository actors who are no longer combined to any repository.

The main reason for cancelling the enrollment instrument of these realities, is to help them from misusing their Sebi enrollment without being an active party of a repository or a member of a honored stock exchange, thereby guarding ignorant investors, the controller said in three separate orders.

Despite the cancellation of their enrollment , these realities remain liable for any conduct they took or failed to take as stock brokers or commodity brokers or repository actors. They're also responsible for paying any outstanding freights, pretenses , and interest owed to Sebi, it added.

In its orders, Sebi said that 39 stock brokers and seven commodity brokers were granted enrollments subject to certain conditions, including the condition that they continue to be members of a recognised stock exchange.

Considering these realities are no longer members of any stock exchange, Sebi noted that these realities no longer meet the conditions needed for holding a stock broker enrollment under the Broker Regulations 1992, which stipulates that stock brokers must be members of honored stock exchanges.

Sebi noted that these realities were expelled as members by the stock exchanges, and this information was communicated to them.

" Since the noticees are no longer holding class of any honored stock exchange, they no longer fulfil the conditions quested under.Broker Regulations, 1992 by which instrument of enrollment was granted to the noticees," Sebi said.

After following the proper procedures outlined in the interposers Regulations, 2008, Sebi has cancelled the enrollment instruments of these stock brokers.

On 22 repository actors, magazines have informed the controller that their agreements with these realities were terminated and this has been communicated to them, Sebi noted.

thus, these realities are no longer actors of any magazines and do n't meet the enrollment conditions under the DP Regulations, 2018. Consequently, their enrollment has been cancelled after following the process outlined in the interposers Regulations, 2008.

Also, Sebi said all these realities will have to insure to" arrange for conservation and preservation of records and other documents needed to be maintained under the applicable regulations; redressal of investor grievances; transfer of records, finances or securities of its guests; durability of service to its guests; and necessary conduct with respect to the defaults or pending action, if any".

The 39 stock brokers whose enrollments have been cancelled include Bezel Stock Brokers, Reflection Investments, Sumpoorna Portfolio, Vineet Securities, Quantum Global Securities, Wellindia Securities, Vrise Securities, Credential Stock Brokers, Aanya Commodities, Amber results, Arcadia Share & Stock Brokers and C.M. Goenka Stock Brokers, fortune Securities.

Seven commodity brokers whose enrollments have been cancelled are-- Wealth Mantra Commodities, Sumpoorna Comtrade, Chaitanya Commodities, BVK beats Online Trading Company, Infonic India Financial Services, fiscal Leaders Goods and Wellindia Commodities

Integrated Stock Broking Services, Moongipa Investments, ASL Capital effects, Atlanta Share Shopee, Wealth Mantra, Punjab and MaharashtraCo-Operative Bank, Max Planwealth Securities, Bright Shares and Stock are among the 22 realities whose enrollment has been cancelled as repository actors.