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Judgment
1.The appeal has been taken up for admission. The urgency application is disposed of.
The present appeal has been filed against the order of the committee dated September 8, 022 wherein the following directions were issued :-
a. The Noticee shall pay a monetary penalty of Rs.24,20,900/-(Rupees Twenty- Four lakhs, Twenty thousand and Nine Hundred Only).
b. The Noticee shall note the non-monetary penalties mentioned above and ensure non-recurrence of the observed violations.
c. The Noticee is prohibited from registering new clients with immediate effect from the date of the order. In case of failure to provide documents evidencing the recoupment of the shortfall in net worth within 1 month from the date of the order, the Noticee shall be disabled across segments.
Let a reply be filed by the respondent within three weeks from today. Rejoinder may be filed within three weeks thereafter. The matter would be listed for admission and for final disposal on December 7, 2022.
Considering the facts and circumstances that have been urged we modify the direction no. 11(c) of the impugned order to the extent that the appellant shall provide documents evidencing recoupment of the shortfall in net worth as depicted in paragraph no. 9.3.3 of the impugned order to the respondent on or before November 30, 2022 failing which it would be open to the respondent to disable the terminal across all segments.
This order will be digitally signed by the Private Secretary on behalf of the bench and all concerned parties are directed to act on the digitally signed copy of this order. Certified copy of this order is also available from the Registry on payment of usual charges.