The National Stock Exchange provided compensation worth Rs 52 crore to investors who were defrauded by brokers in FY24, against Rs 129 crore in FY23, Rs 535 crore in FY22 and Rs 552 crore in FY21, official data showed
In addition, Sebi has levied a penalty totaling ₹8 crore on Anugrah Stock, its directors and the associate entity and the fine needs to be paid within 45 days.
SEBI fines Anugrah Stock Broking ₹90 lakh
Accused of misusing client funds
Market regulator SEBI has imposed a fine of ₹90 lakh on Mumbai-based Anugrah Stock Broking for misusing client funds and making incorrect reporting to stock exchanges. More than 70 investors have approached the Bombay High Court alleging that Anugrah had indulged in “illicit and unauthorised transactions”, causing them heavy financial losses. The regulator has failed to assess the illegal profits made by Anugrah or loss caused to investors.
The Securities and Exchange Board of India (SEBI) has said in its order that no quantifiable figures are available to assess the disproportionate gain or unfair advantage made by Anugrah as a result of the defaults. It has concluded that from the material available on record, it may not be possible to ascertain the exact monetary loss to the investors/clients on account of default by Anugrah.