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MOTILAL OSWAL FINANCIAL SERVICES LTD. - Order Passed By Hon'Ble Whole Time Member Of SEBI Dated November 29, 2022 With Respect To The Subsidiary Of The Company.
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30 Nov 2022
In continuation to our earlier letter dated June 14, 2022 &amp; pursuant to SEBI order dated Nov. 29, 2022, passed by the Hon&apos;ble Whole Time Member (&apos;WTM&apos;) of SEBI, we wish to inform you as under: Earlier an Order dated Feb. 22, 2019 passed by WTM of SEBI against Motilal Oswal Commodities Broker Pvt Ltd (&quot;MOCBPL&quot;), wherein SEBI had held that MOCBPL is not a fit and proper person to hold the certificate of registration as commodity broker. In this regard, MOCBPL had filed appeal before Hon&apos;ble Securities Appellate Tribunal (&apos;SAT&apos;) challenging said Order. Thereafter Hon&apos;ble SAT has allowed MOCBPL&apos;s appeal &amp; remanded matter back to SEBI for deciding afresh. Pursuant to SAT Order, WTM of SEBI has passed order dated Nov. 29, 2022, debarring MOCBPL from making fresh application seeking registration, before SEBI, for a period of 3 months from the date of the SEBI Order. We wish to inform that there is no impact of the Order passed by SEBI dated Nov. 29, 2022, on our Commodity Business.
View all announcements for MOTILAL OSWAL FINANCIAL SERVICES LTD. Source: BSE India