https://www.taxtmi.com/caselaws?id=461774 Client accounts must be settled within the prescribed intervals and client funds and securities must remain segregated in compliance with the governing circular. Delays caused by software or depository issues did not excuse repeated non-compliance over several quarters, so the violation was established. Client funds may be withdrawn only for permitted client-related payments and identified purposes; using such funds to meet debit balances and other liabilities amounted to misuse. The circular drew no distinction for internal balances of group entities, associates or related persons, and a later circular was treated as a clarification of the earlier position. The regulatory breaches were upheld and the appeal was rejected. en-us Thu, 21 Oct 2021 00:00:00 +0530 Mon, 28 Apr 2025 19:07:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461774 Client accounts must be settled within the prescribed intervals and client funds and securities must remain segregated in compliance with the governing circular. Delays caused by software or depository issues did not excuse repeated non-compliance over several quarters, so the violation was established. Client funds may be withdrawn only for permitted client-related payments and identified purposes; using such funds to meet debit balances and other liabilities amounted to misuse. The circular drew no distinction for internal balances of group entities, associates or related persons, and a later circular was treated as a clarification of the earlier position. The regulatory breaches were upheld and the appeal was rejected. Case-Laws SEBI Thu, 21 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461774