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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), while imposing a penalty of Rs11.50 crore,
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 j...
0 Coming down heavily on HDFC Bank Ltd for violating its orders, market regulator Securities and Exchange Board of India (SEBI) has asked the lender to deposit Rs158.68 crore along with interest in an escrow account and pay a penalty of Rs1 crore. SEBI found HDFC Bank violated its interim order and unilaterally invoked securities pledged by BRH Wealth Kreators Ltd (BRH) (formerly BMA Wealth Creators Ltd) and BRH Commodities Private Ltd (formerly BMA Commodities Pvt Ltd), worth Rs158.68 crore. In the order, G Mahalingam, whole time member (WTM) of SEBI says, "Given the unilateral action o...