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Plea In HC Challenges SEBI circulars mandating collection of upfront margin

Gujarat HC has issued a notice in plea challenging Constitutionality of circulars issued by SEBI, which require Trading Members to ensure collection of an upfront margin from investors/clients before making trades. The petitioner contends that circulars impose arbitrary penalties, is impractical and excessive considering its purported motive to prevent misuse of client/ investor securities by Trading Member or broker.

Source: Bar and Bench


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