Sebi cancels registration of 39 stock brokers, seven commodity brokers

Accordingly, their registration has been cancelled after following the process outlined in the Intermediaries Regulations, 2008.

Also, Sebi said all these entities will have to ensure to “arrange for maintenance and preservation of records and other documents required to be maintained under the relevant regulations; redressal of investor grievances; transfer of records, funds or securities of its clients; continuity of service to its clients; and necessary actions with respect to the defaults or pending action, if any”.

The 39 stock brokers whose registrations 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 Solutions, Arcadia Share & Stock Brokers and C.M. Goenka Stock Brokers, Destiny Securities.

Seven commodity brokers whose registrations have been cancelled are – Wealth Mantra Commodities, Sumpoorna Comtrade, Chaitanya Commodities, BVK Pulses Online Trading Company, Infonic India Financial Services, Financial Leaders Commodities and Wellindia Commodities Integrated Stock Broking Services, Moongipa Investments, ASL Capital Holdings, Atlanta Share Shopee, Wealth Mantra, Punjab and Maharashtra Co-Operative Bank, Max Planwealth Securities, Bright Shares and Stock are among the 22 entities whose registration has been cancelled as depository participants.