31, Jan New Delhi, 2025: The Securities and Exchange Board of India (SEBI) canceled the registration of four stock brokers on Wednesday. The stocks include Single Window Securities, Sunness Capital India, GACM Technologies, and Infotech Portfolio, as they failed to meet the necessary registration requirements.
The decision was made to prevent these entities from misusing their SEBI registration without being a member of a recognized stock exchange, on unaware investors. This is a condition required for holding a stock broker registration under the Broker Regulations 1992.
Sebi said in its orders, that stock brokers were granted registrations subject to certain conditions, including the condition that they continue to be members of a recognized stock exchange.
SEBI noted that these entities were expelled as members by the stock exchanges and that was communicated to them.
Despite the cancellation of their registration, these entities remain responsible for paying any outstanding fees, dues, and interest owed to Sebi. These entities remain liable for any actions they take or fail to take as stock brokers, the order of Sebi added.
After completing the proper procedures outlined in the Intermediaries Regulations, 2008, Sebi revoked the registration certificates of these 4 stock brokers.
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