The National Stock Exchange (NSE) has withdrawn all trading rights of crisis-hit Anugrah Stock and Broking Pvt Ltd. Earlier on 1st September, the stock exchange had withdrawn Anugrah's trading rights in future & options (F&O), currency derivatives and commodity derivatives segment.
In a circular, NSE says, "On account of the regulatory concerns observed, the relevant authority of Exchange has decided to withdraw the trading rights of the member in all segments of the Exchange with immediate effect. Accordingly, in addition to the aforementioned segments, Anugrah Stock & Broking Pvt Ltd shall also be disabled in all other segments of the Exchange from 4 September 2020 before market hours."
Anugrah Stock and Broking, which won a reprieve from Securities Appellate Tribunal (SAT) on 17th August, was unable to deposit Rs165 crore with the NSE by 1st September. The Exchange then withdrawn its trading rights and also seized its computers and books, the brokerage firm has told investors thronging to its office.
Last month, NSE had shut down derivatives business of Anugrah. However, when Anugrah approached the SAT in August after its derivatives business was shut down by the NSE, the Tribunal noted that it has been running an unauthorised derivatives advisory scheme (DAS), which collected over Rs165 crore through an associate firm call Om Shri Sai Investments (OSSI). That scheme, the order noted, was shut in 2019.
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