Sebi bans Kamal Kumar Kothari's Guiness Securities, 35 others from securities market
On Wednesday Market regulator SEBI restricted Kolkata-based stock representative Kamal Kumar Kothari's Guiness Securities Ltd (GSL) and 35 others entities from securities market till further directions for a situation connected with non-settlement of client assets and misappropriation of protections. These 35 elements additionally incorporate GSL's present and previous chiefs. Besides, the regulator directed the entities to file their reply within 21 days, failing to do so would confirm the directions issued against the entities automatically, "without any further orders", Sebi said in an interim ruling. Endless supply of NSE report, which at first sight showed abuse of client protections worth Rs 212.17 crores across 1,139 scrips by Guiness Securities Ltd (GSL), Sebi completed a primer examination. From its primer investigation, the controller saw that GSL through its 6 clients abused absolute worth of client protections worth "essentially Rs 233.75 crores acr