2017-TIOLCORP-17-SEBI

Sugal And Damani Share Brokers Ltd

Whether mixing of clients funds with its own funds by the stock broker and making pay in for most of the clients from broker's own funds amounts to contravention of the SEBI circular issued in that behalf - YES: SEBI

Whether a stock broker can take the defence that such mixing was done for smooth running of business and for timely pay in obligation of the clients - NO: SEBI

Whether lending of funds by a stock broker to its clients can be said to be "in connection with or incidental to or consequential upon the securities business" when it is evident that the stock broker has charged interest so as to make profit out of such loan and was not merely meant for assisting the clients to secure their pay-in obligations - NO: SEBI

Whether it would amount to contravention of Rule 8(3)(f) of the SCRR if stock broker lends money to its client otherwise than "in connection with or incidental to or consequential upon the securities business" - YES: SEBI

- Directions Imposed: SEBI

2017-TIOLCORP-18-CCI

Rajeev Nohwar And Lodha Group

Whether a company is said to be have dominance in relevant market when there are other players in the market - NO : CCI

Whether there can be said to be abuse of dominant position by the Opposite Party when there are competitive restraints upon such party due to presence of other players - NO : CCI

- Order Passed u/s 26(2): CCI

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