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Brief
On "24/10/2024", the "Securities and Exchange Board of India" issued an update regarding "Adjudication Order in the matter of inspection of Rudra Shares and Stock brokers Ltd
The Adjudicating Officer imposed a penalty of Rs 5,00,000/- on Rudra Shares & Stock Brokers Ltd for violating provisions of the Securities and Exchange Board of India Act, 1992 and SEBI Circulars. The penalty was imposed for discrepancies in user operating terminals and certifications, as well as irregularities in settlement of client accounts.
The Noticee had requested an opportunity to hear before the Adjudication Order was passed, which was granted on October 18, 2024.
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