SEBI (Stock‑brokers and Sub‑brokers) Regulations, 1992

MBL & Co Ltd was found by SEBI’s Whole Time Member (WTM) to have engaged in manipulative self‑trades, placing single‑share buy orders after large sell orders to artificially raise the price of Gujarat NRE Coke Ltd. The WTM barred MBL from trading in its proprietary account for four years under Sections 11, 11(4), 11B a…

Ratnabali Capital Markets Ltd. (RCML) sought to claim fee‑continuity under a SEBI circular dated 30 September 2002, arguing that its merger with Ratnabali Securities Ltd. (RSL) was compelled by law because SEBI’s Gupta Committee required a net‑worth of Rs 3 crore to trade in derivatives. The merger was effected under t…

The appellant, son of a deceased stock‑broker who was a member of the Bombay Stock Exchange, claimed that the partnership firm he joined should enjoy the "fee continuity benefit" under the SEBI (Stock Brokers and Sub‑Brokers) Regulations, 1992, arguing that the business continued under the same name and membership numb…