Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration of Fairwealth Securities Ltd (FSL) for flagrant violations of the provisions governing the functioning of a stockbroker, failing to carry out fiduciary responsibilities and showing deep apathy towards the interests of the clients.
"We direct Sebi to appoint another WTM, and if no WTM is available, then any authorised officer higher in grade or rank or position to the WTM would hear and decide the matter.The person who is appointed shall pass the order within the stipulated period," SAT said in its order.
India s Securities Appellate Tribunal has directed the Securities and Exchange Board of India (SEBI) to appoint another whole-time member to review objections by Zee promoters Punit Goenka and Subhash Chandra Goenka against SEBI s interim order against them.
Get latest articles and stories on Latest News at LatestLY. The Securities Appellate Tribunal (SAT) on Thursday modified its earlier order and allowed Sebi to appoint an authorised officer to decide the alleged fund diversion case involving Zee Entertainment Enterprises Ltd's promoters Punit Goenka and Subhash Chandra. Latest News | SAT Modifies Order in ZEEL Matter; Permits Sebi to Appoint Authorised Officer to Decide Case.