SEBI bans Orion Capital, Orion Broking from Markets for 10 years

Markets regulator SEBI barred Orion Capital as well as Orion Broking and their partners from the securities markets for 10 years for failing to redress several investor grievances pertaining to non- settlement of funds due to the clients.

The nature of investor complaints received against both the firms are predominantly on non-settlement of the funds and securities and balances due to their clients. The claim amount is more than Rs 6 crore against Orion Capital and over Rs 4 crore against Orion Broking.
Important Takeaways from Above News-
  • Chairman of SEBI is Ajay Tyagi.
  • SEBI was set up on 12th April 1988.
Source- The Indian Express

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