Pending Inquiry Proceedings of Motilal Oswal Financial Services Limited by SEBI:

SEBI pursuant to inspection of books of accounts, w.r.t requirements of SEBI circular dated November 18, 1993, observed that MOFSL has mis-utilized the funds of client’s credit balance lying with the broker for the settlement obligation of the debit balance clients. SEBI vide Notice dated May 09, 2019, under Rule 4 (1) of SEBI (Procedure for holding Inquiry and Imposing penalties by Adjudicating Officer) rules, 2005 has initiated the inquiry for violation of the provisions of SEBI circular. The matter is under process.