NSE Expels Destiny Securities and Star Share & Stock Brokers after Declaring Them as Defaulters
Moneylife Digital Team 14 July 2021
The National Stock Exchange (NSE) has expelled two brokers, viz., Kolkata-based Destiny Securities Ltd, and Mumbai-based Star Share & Stock Brokers Ltd from its membership while declaring these brokers as defaulters. 
 
In a statement, the Exchange says, "NSE has expelled the trading members from the membership of the Exchange under Rules 1 and 2 of Chapter IV of the NSEIL Rules and also declared it as a defaulter under provision 1 (a) of Chapter XII of Exchange Bye laws from 13 July 2021 before market hours."
 
Further, NSE says, as per the Exchange's records, the authorised persons affiliated with the aforesaid trading member, are henceforth, not authorised to deal in that capacity. This includes Anil Kumar Bajoria, Manoj Kumar Agrawal, Babita Agrawal and Pranay Agrawal from Destiny Securities.
 
From Star Share & Stock Brokers, NSE has debarred Rakesh Kumar, Manoj Kumar, Harleen Kaur Bindra and Vinod Kumar Garg from holding the office of as director or partner in a company or firm, if such persons had previously held the office of the directors or partners in any company/firm which had been a member of the Exchange and has been declared defaulter or expelled.
 
Earlier this month, NSE had declared as defaulter and expelled Mumbai-based Arcadia Share & Stock Brokers Pvt Ltd. Arcadia's managing director (MD) Antony Sequeira and director Narendra Brahmbhatta are disqualified by NSE from holding any position as director or partner in any listed company. (Read: Arcadia Share & Stock Brokers Declared Defaulter; NSE Asks Investor-Clients To Submit Claims within 3 Months)
 
Comments
Ramesh Popat
2 months ago
tip of the icerberg !
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