{"id":106490,"date":"2023-08-08T18:41:55","date_gmt":"2023-08-08T13:11:55","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=106490"},"modified":"2023-08-08T18:41:57","modified_gmt":"2023-08-08T13:11:57","slug":"sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case\/","title":{"rendered":"Sebi suspends Mavji Haribhai Commodities&#8217; registration in the NSEL paired contracts case.\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3098950855\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Capital markets regulator Sebi has suspended the registration of Mavji Haribhai Commodities for its involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL).<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2311890064\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>By providing access for taking exposure to paired contracts, the broking firm&#8217;s clients were exposed to the risk involved in trading in a product that did not have regulatory approval, Sebi said in an order passed on Monday.<\/p><p>Further, the regulator said that trading activities of the noticee (Mavji Haribhai Commodities) in paired contracts for their clients on the NSEL platform have jeopardised its reputation as also Sebi&#8217;s belief in its character, competence and integrity which compelled the regulator to file the criminal complaint against Mavji and also against several other brokers.<\/p><p>Accordingly, Sebi has suspended the registration of Mavji Haribhai Commodities for a period of three months from the date of the order or till such time an order is passed by a court of competent jurisdiction, discharging or acquitting the noticee, whichever is later.<\/p><div class=\"trade-content_5\" id=\"trade-227792745\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Also, the Securities and Exchange Board of India (Sebi) said the order will come into force with immediate effect.<\/p><p>In September 2009, NSEL introduced the concept of paired contracts for trading, which allowed buying and selling of the same commodity through two different contracts at two different prices on the exchange platform.<\/p><p>The scheme of paired contracts traded on NSEL had caused a huge loss to investors to the extent of Rs 5,500 crore, as per Sebi.<\/p><p>In four separate orders on Monday, the regulator slapped fines totalling Rs 22.20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on the BSE.<\/p><p>Individually, the regulator imposed a fine of Rs 11.20 lakh on Satish Agrawal HUF, Rs 5 lakh each on Shilpa Baldevbhai Patel and Scandia Properties and Rs 1 lakh on Moneyplex Securities.<\/p><p>The order came after Sebi observed a large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse.<\/p><div class=\"trade-content-10\" id=\"trade-4170436211\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Thereafter, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015.<\/p><div class=\"trade-after-content\" id=\"trade-3874041727\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Capital markets regulator Sebi has suspended the registration of Mavji Haribhai Commodities for its involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL). By providing access for taking exposure to paired contracts, the broking firm&#8217;s clients were exposed to the risk involved in trading in a product that did not [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":94946,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-106490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sebi suspends Mavji Haribhai Commodities&#039; registration in the NSEL paired contracts case.\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Capital markets regulator Sebi has suspended the registration of Mavji Haribhai Commodities for its involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi suspends Mavji Haribhai Commodities&#039; registration in the NSEL paired contracts case.\u00a0\" \/>\n<meta property=\"og:description\" content=\"Capital markets regulator Sebi has suspended the registration of Mavji Haribhai Commodities for its involvement in illegal paired contracts on the now defunct National Spot Exchange Ltd (NSEL).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T13:11:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-08T13:11:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/03\/SEBI-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case\/\",\"url\":\"https:\/\/tradebrains.in\/features\/sebi-suspends-mavji-haribhai-commodities-registration-in-the-nsel-paired-contracts-case\/\",\"name\":\"Sebi suspends Mavji Haribhai Commodities' registration in the NSEL paired contracts case.\u00a0 - 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