 "Sebi")
The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of Rs 90 lakh on Anugrah Stock & Broking for allegedly misusing Rs 119 crore worth of clients’ funds. This comes on the back of a joint investigation carried out by Sebi, BSE, NSE, and the Central Depository Services between April 2017 and September 2018.
“It is established that the noticee (Anugrah) failed to segregate client’s funds inter-se and between clients’ funds and its own funds, mis-utilised the funds of clients, pledged the securities of clients other than the respective client obligation, funding the clients by allowing exposure
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