Capital market regulator Sebi has issued a demand notice of Rs 5.35 crore on June 9 against OPG Securities and directors Om Prakash Gupta, Sanjay Gupta and Sangeeta Gupta, instructing the parties to deposit the sum within 15 days, as a step to recover the penalty of Rs 5 crore it had imposed on the platform over preferential access to exchange servers in the NSE co-location case.
Two other separate demand notices of Rs 10.31 lakh each have been issued against OPG Securities and its directors. Along with the penalty amount and interest at the rate of one percent per month, a recovery cost has also been added to the demand notice.
The demand notice said in the case of non-payment of dues, attachment and/or sale of immovable and movable property and bank accounts, detention and arrest, or appointment of receiver for management of properties is also possible. The notices, upon the receipt of the Sebi notice will not be able to mortgage, charge or lease or otherwise deal with the property without the permission of Sebi.
The demand notice has been issued by the Northern Regional Office of Sebi in New Delhi.
Sebi had alleged that OPG Securities gained unfair advantage by repeatedly accessing the secondary server and made unlawful gains. The regulator said OPG Securities failed to uphold the standards of integrity, due skill, care and diligence in its business operations.
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