M/s Bezel Stockbrokers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking 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 required margin for stock purchases, leading to SEBI forfeiting shares and creating liabilities towards shareholders/clients. The company also failed to return advance funds to clients, resulting in a total liability of Rs.4,27,63,436/-. Consequently, it was declared a defaulter and expelled from NSE membership.
M/s Bezel Stockbrokers Private Limited, a company incorporated on 01.02.2013 and registered with SEBI as a stock broker, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The company faced financial difficulties, including an inability to deposit the 20% margin for stock purchases as per SEBI rules, leading to SEBI forfeiting shares and creating a liability of Rs.3,35,84,815/- towards shareholders/clients. Additionally, the company failed to return advance funds (Cash & Collateral) to its clients, creating a further liability of Rs.91,78,621/-. The total liability of the company towards its clients amounted to Rs.4,27,63,436/-. The company was declared a defaulter and
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M/s Bezel Stoc…
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M/s Bezel Stockbrokers Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking 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 required margin for stock purchases, leading to SEBI forfeiting shares and creating liabilities towards shareholders/clients. The company also failed to return advance funds to clients, resulting in a total liability of Rs.4,27,63,436/-. Consequently, it was declared a defaulter and expelled from NSE membership.
M/s Bezel Stockbrokers Private Limited, a company incorporated on 01.02.2013 and registered with SEBI as a stock broker, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP). The company faced financial difficulties, including an inability to deposit the 20% margin for stock purchases as per SEBI rules, leading to SEBI forfeiting shares and creating a liability of Rs.3,35,84,815/- towards shareholders/clients. Additionally, the company failed to return advance funds (Cash & Collateral) to its clients, creating a further liability of Rs.91,78,621/-. The total liability of the company towards its clients amounted to Rs.4,27,63,436/-. The company was declared a defaulter and
…M/s Bezel Stoc…
The Corporate Applicant has been registered…