Anand Rathi Share and Stock Brokers Limited (ARSSBL) has recently undergone significant corporate changes and faced regulatory action, as revealed in its latest disclosures to the stock exchanges.

Corporate Identification Number and Listing Status Update

Following the listing of its equity shares on the BSE and NSE on September 30, ARSSBL has updated its Corporate Identification Number (CIN) and listing status with the Ministry of Corporate Affairs (MCA). The company applied for these changes to the Registrar of Companies, Mumbai on October 13.

Key updates include:

Company Details

ARSSBL's current corporate information, as per the MCA Master Data, is as follows:

Regulatory Action

In a separate disclosure, ARSSBL reported that it has been penalized by the Multi Commodity Exchange of India Limited (MCX) for non-compliance with reporting requirements. The details of the penalty are:

The penalty was imposed for non-compliance with the reporting requirements as per SEBI circular ref. no. SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160 dated November 25, 2022, and MCX circular ref. no. MCX/TECH/726/2022 dated December 16, 2022.

These developments highlight the importance of regulatory compliance and timely reporting for listed entities in India's financial markets. ARSSBL's prompt disclosure of both the corporate updates and the regulatory action demonstrates its commitment to transparency with its stakeholders.

Multi Commodity Exchange of India Limited (MCX) has taken disciplinary action against Anand Rathi Share and Stock Brokers Limited, imposing a penalty for non-compliance with reporting requirements. The penalty addresses multiple instances of technical glitches reported by the company.

Penalty Details

MCX's Member Committee has levied a fine of Rs 4,25,000 plus applicable GST on Anand Rathi Share and Stock Brokers. The penalty addresses violations related to the reporting of technical glitches, which occurred on more than six occasions.

Regulatory Context

The non-compliance was in contravention of:

• SEBI circular dated November 25, 2022 (Ref: SEBI/HO/MIRSD/TPD-1/P/CIR/2022/160)
• MCX circular dated December 16, 2022 (Ref: MCX/TECH/726/2022)

These circulars outline the reporting requirements for technical glitches in the commodity derivatives market.

Penalty Implementation

According to the order:

• The penalty amount will be debited from the company's settlement account.
• Anand Rathi has been given 14 days from the receipt of the order to comply with the payment.

Company Disclosure

Anand Rathi Share and Stock Brokers Limited, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, has made a formal disclosure to the stock exchanges regarding this penalty.

Implications

While the financial impact of the penalty is quantifiable, the incident highlights the importance of adhering to regulatory reporting requirements in the financial services sector. It underscores the need for robust systems and processes to manage and report technical issues promptly and accurately.

This incident serves as a reminder to all market participants of the strict regulatory environment in which they operate and the potential consequences of non-compliance with reporting obligations.