https://www.taxtmi.com/caselaws?id=464546 A commodity derivatives broker registration application was rejected because the noticee did not satisfy the fit and proper person requirement under the Intermediaries Regulations and Stock Brokers Regulations. The governing Schedule II standard treated a pending criminal complaint and a pending FIR arising from SEBI's complaint as disqualifying factors under the amended criteria. Although there was no evidence that the noticee had directly facilitated paired contracts, the subsisting proceedings were sufficient to attract the disqualification and defeat the statutory eligibility test for registration. The rejection of the application was therefore upheld as consistent with the amended fit and proper person framework. en-us Tue, 26 Sep 2023 00:00:00 +0530 Tue, 04 Nov 2025 12:59:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464546 A commodity derivatives broker registration application was rejected because the noticee did not satisfy the fit and proper person requirement under the Intermediaries Regulations and Stock Brokers Regulations. The governing Schedule II standard treated a pending criminal complaint and a pending FIR arising from SEBI's complaint as disqualifying factors under the amended criteria. Although there was no evidence that the noticee had directly facilitated paired contracts, the subsisting proceedings were sufficient to attract the disqualification and defeat the statutory eligibility test for registration. The rejection of the application was therefore upheld as consistent with the amended fit and proper person framework. Case-Laws SEBI Tue, 26 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464546