M/s Bezel Stockbrokers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The company, incorporated on 01.02.2013, is a stock broker registered with SEBI. It faced financial difficulties, including an inability to deposit the 20% margin on stock purchases for clients, leading to forfeiture by SEBI and a total liability of Rs.4,27,63,436/- towards clients. The company was declared a defaulter and expelled from NSE membership, prompting the application under Section 10 of IBC 2016.
M/s Bezel Stockbrokers Private Limited, the Corporate Applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 01.02.2013 and is registered with SEBI as a stock broker. The company faced financial difficulties, including an inability to deposit the 20% margin on stock purchases for clients as per SEBI rules. This led to the forfeiture of shares by SEBI, creating a liability of Rs.3,35,84,815/- towards shareholders/clients. Additionally, unused advance funds (Cash & Collateral) given by clients were not paid back, creating a further liability of Rs.91,78,621/-. The total liability of the Corporate Applicant towards its clients
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M/s Bezel Stoc…
The Corporate Applicant has been carrying on…
M/s Bezel Stockbrokers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The company, incorporated on 01.02.2013, is a stock broker registered with SEBI. It faced financial difficulties, including an inability to deposit the 20% margin on stock purchases for clients, leading to forfeiture by SEBI and a total liability of Rs.4,27,63,436/- towards clients. The company was declared a defaulter and expelled from NSE membership, prompting the application under Section 10 of IBC 2016.
M/s Bezel Stockbrokers Private Limited, the Corporate Applicant, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP). The company was incorporated on 01.02.2013 and is registered with SEBI as a stock broker. The company faced financial difficulties, including an inability to deposit the 20% margin on stock purchases for clients as per SEBI rules. This led to the forfeiture of shares by SEBI, creating a liability of Rs.3,35,84,815/- towards shareholders/clients. Additionally, unused advance funds (Cash & Collateral) given by clients were not paid back, creating a further liability of Rs.91,78,621/-. The total liability of the Corporate Applicant towards its clients
…M/s Bezel Stoc…
The Corporate Applicant has been carrying on…