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The three-member arbitral tribunal has directed Central Depository Services (India) Ltd (CDSL) to reimburse Rs86.02 lakh for the loss suffered by an investor-client of BRH Wealth Kreators Ltd (formerly BMA Wealth Creators Ltd). ....
Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of BRH Commodities Pvt Ltd (BRHCPL, formerly BMA Commodities Pvt Ltd), for multiple offences, including misutilisation of client securities and funds. ....
BRH Wealth Kreators' Registration Cancelled for Misutilisation of Client Fund moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
SAT Stays SEBI Order against HDFC Bank in BMA Wealth Case Moneylife Digital Team 0 The Securities Appellate Tribunal (SAT) has stayed an order passed by market regulator Securities and Exchange Board of India (SEBI) against HDFC Bank Ltd in the BRH Wealth Kreators Ltd (BRH) (formerly BMA Wealth Creators Ltd) and BRH Commodities Private Ltd (formerly BMA Commodities Pvt Ltd) matter. Last month, SEBI had asked the lender to deposit Rs158.68 crore along with interest in an escrow account and pay a penalty of Rs1 crore in this case.
In an order, the SAT bench of justice Tarun Agarwala and justice MT Joshi pointed out that HDFC Bank is one of the largest private sector banks, and as per balance sheet it has assets of Rs16.54 lakh crore and, therefore, has sufficient financial strength and ability to furnish the amount as per the impugned order. ....