SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE � PRESS RELEASES/ CHAIRMAN�S AND MEMBER�S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 28-AUG-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

1

History of entity/person

ANAND RATHI COMMODITIES LTD.

(PAN:AAACP6209K)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

CEASED TO ACT DIRECTLY OR INDIRECTLY AS COMMODITY DERIVATIVES BROKER FROM 25-FEB-2019

25-FEB-2019

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: APPEAL DISMISSED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 05/05/2021 ADJOURNED THE MATTER DIRECTING PARTIES TO EITHER FILE THE REPLIES IN THE APPEALS WHERE THEY HAVE NOT FILED, WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 09/06/2022 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDERS PASSED BY WTM ALLOWED THE APPEALS MATTER REMITTED BACK TO WTM TO DECIDE MATTER AFRESH. THE APPEALS OF NSEL ALSO ALLOWED.

SEBI VIDE ITS ORDER DATED 29/11/2022 REJECTED THE APPLICATION AND DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION FOR SIX MONTHS FROM DATE OF THIS ORDER OR TILL ACQUITTAL BY COURTS PURSUANT TO THE CHARGE SHEET AND FIR FILED BY EOW, WHICHEVER EARLIER

2

History of entity/person

GEOFIN COMTRADE LTD.

(PAN:AADCG3019R)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

CEASED TO ACT DIRECTLY OR INDIRECTLY AS COMMODITY DERIVATIVES BROKER FROM 25-FEB-2019

25-FEB-2019

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: APPEAL DISMISSED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 05/05/2021 ADJOURNED THE MATTER DIRECTING PARTIES TO EITHER FILE THE REPLIES IN THE APPEALS WHERE THEY HAVE NOT FILED, WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 09/06/2022 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDERS PASSED BY WTM ALLOWED THE APPEALS MATTER REMITTED BACK TO WTM TO DECIDE MATTER AFRESH. THE APPEALS OF NSEL ALSO ALLOWED.

SEBI VIDE ITS ORDER DATED 29/11/2022 REJECTED THE APPLICATION AND DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION FOR SIX MONTHS FROM DATE OF THIS ORDER OR TILL ACQUITTAL BY COURTS PURSUANT TO THE CHARGE SHEET AND FIR FILED BY EOW, WHICHEVER EARLIER

3

History of entity/person

INDIA INFOLINE COMMODITIES LTD.

(PAN:AABCI2930D)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

CEASED TO ACT DIRECTLY OR INDIRECTLY AS COMMODITY DERIVATIVES BROKER FROM 22-FEB-2019

22-FEB-2019

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: APPEAL DISMISSED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 26/04/2021 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDER DATED 12/04/2018. DISCIPLINARY ACTION COMMITTEE TO ISSUE A FRESH SHOW CAUSE NOTICE

SAT: SAT VIDE ITS ORDER DATED 05/05/2021 ADJOURNED THE MATTER DIRECTING PARTIES TO EITHER FILE THE REPLIES IN THE APPEALS WHERE THEY HAVE NOT FILED, WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 16/06/2021 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 22/02/2019. DIRECTED TO DISCIPLINARY ACTION COMMITTEE TO ISSUED A FRESH SHOW CAUSE NOTICE WITHIN TWO MONTHS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 09/06/2022 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDERS PASSED BY WTM ALLOWED THE APPEALS MATTER REMITTED BACK TO WTM TO DECIDE MATTER AFRESH. THE APPEALS OF NSEL ALSO ALLOWED.

SEBI VIDE ITS ORDER DATED 29/11/2022 REJECTED THE APPLICATION AND DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION FOR SIX MONTHS FROM DATE OF THIS ORDER OR TILL ACQUITTAL BY COURTS PURSUANT TO THE CHARGE SHEET AND FIR FILED BY EOW, WHICHEVER EARLIER

4

History of entity/person

MOTILAL OSWAL COMMODITIES BROKER PVT.LTD.

(PAN:AAACP3147N)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

CEASED TO ACT DIRECTLY OR INDIRECTLY AS COMMODITY DERIVATIVES BROKER FROM 22-FEB-2019

22-FEB-2019

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: APPEAL DISMISSED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 05/05/2021 ADJOURNED THE MATTER DIRECTING PARTIES TO EITHER FILE THE REPLIES IN THE APPEALS WHERE THEY HAVE NOT FILED, WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 09/06/2022 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDERS PASSED BY WTM ALLOWED THE APPEALS MATTER REMITTED BACK TO WTM TO DECIDE MATTER AFRESH. THE APPEALS OF NSEL ALSO ALLOWED.

SEBI VIDE ITS ORDER DATED 29/11/2022 REJECTED THE APPLICATION AND DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION FOR THREE MONTHS FROM DATE OF THIS ORDER OR TILL DISPOSAL OF FIR FILED WITH EOW, WHICHEVER IS EARLIER

5

History of entity/person

PHILLIP COMMODITIES INDIA PVT.LTD.

(PAN:AACCR6675H)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

CEASED TO ACT DIRECTLY OR INDIRECTLY AS COMMODITY DERIVATIVES BROKER FROM 27-FEB-2019

27-FEB-2019

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: APPEAL DISMISSED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 05/05/2021 ADJOURNED THE MATTER DIRECTING PARTIES TO EITHER FILE THE REPLIES IN THE APPEALS WHERE THEY HAVE NOT FILED, WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 09/06/2022 ALLOWED THE APPEAL AND QUASHED THE IMPUGNED ORDERS PASSED BY WTM ALLOWED THE APPEALS MATTER REMITTED BACK TO WTM TO DECIDE MATTER AFRESH. THE APPEALS OF NSEL ALSO ALLOWED.

SEBI VIDE ITS ORDER DATED 29/11/2022 REJECTED THE APPLICATION AND DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION FOR THREE MONTHS FROM DATE OF THIS ORDER OR TILL DISPOSAL OF FIR FILED WITH EOW, WHICHEVER IS EARLIER

The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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