Broker penalized for improper client fund segregation and settlement violations despite no client losses

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....The Board established violations against the Noticee for improper segregation of client funds and securities, settlement discrepancies, stock mismatch alerts, and margin collection shortfalls. The Noticee violated SEBI Enhanced Supervision Circular provisions by transferring funds from client to proprietary accounts for unauthorized purposes, citing "ease of business" rather than legitimate recovery purposes. Despite the Noticee's justifications of minimal technical glitches and inadvertent errors, the Board found these insufficient to excuse non-compliance. However, violations regarding stock reconciliation and email/mobile number verification were not established. Considering no client losses occurred and corrective measures were implemen.........