Sebi imposes a fine of Rs 10 lakh on share and stockbroker Anand Rathi for violating regulations

Capital markets regulator Sebi has imposed a fine of Rs 10 lakh on Anand Rathi Share and Stock Broker for violating stockbroker rules and various other norms.

The penalty was imposed following a comprehensive audit by the Securities and Exchange Board of India (Sebi) on the brokerage firm for the period April 2022 to October 2023. The audit found several cases of non-compliance with Sebi regulations and directives relating to stockbrokers, NSE and BSE.

The significant violations included 55 cases of short collection of margins amounting to Rs 33.16 lakh and failure to report technical glitches to the concerned exchanges. In its order, Sebi highlighted that the company had failed to produce adequate documentation to support its compliance claims, which led to the imposition of the fine.

(With the participation of the agency).