Legal Notes Other information
The following material action taken by the regulators against CSSIPL in the capacity of a stock broker:
- Interim order dated April 18, 2001 debarring the CSSIPL from undertaking any new business as a stock broker until further orders were passed by SEBI.
- Order dated June 13, 2002 bearing reference IES/ID2/RKK/10780/2002 suspending CSSIPL’s broking operations for a period of two years.
- Order dated December 11, 2003 bearing reference IVD/ID2/CSFB/KR/23686/2003 issuing a warning to CSSIPL with regard to its proprietary transactions in a variety of stocks.
- Order dated March 5, 2004 bearing reference ISD-2/RM/4617/2004 with regard to transactions in the shares of Ranbaxy Laboratories suspending CSSIPL’s broking operations for a period of one month from March 26, 2004.
- Order dated September 10, 2004 bearing reference No. ISD1/SR/SS/GTB/20633/2004 with regard to transactions in the shares of Global Trust Bank suspending CSSIPL’s broking operations for a period of three months from October 1, 2004.
- Order dated August 10, 2006 bearing reference No. IVD/ID-4/PKN/JKA/74158/2006 with regard to of dealings in the shares of South East Asia Marine Engineering and Constructions Limited suspending CSSIPL’s broking operations for a period of one month from September 1, 2006.
- Order dated November 27, 2006 bearing reference No. IVD/ID3/PKB/AA/DSQBL/80938/06 with regard to transactions in the shares of DSQ Biotech Limited (now known as Origin Agrostar Limited) issuing a warning to CSSIPL to be “careful in future”.
- Administrative warning dated July 31, 2013 to initiate corrective actions to streamline the Account Opening Process and remediate the KYC deficiencies with respect to institutional clients.
- NSE vide its letter dated February 6, 2019, levied penalty of INR 2,00,000/- and disabled proprietary trading of CSSIPL for a day for violation of regulatory guidelines on (a) decision support tools/algorithmic trading and (b) testing of software used in or related to trading and risk management, respectively.