SEBI finds ₹28.52 crore client fund shortfall at IndusInd Securities
This is a final order by SEBI regarding Reliance Securities Limited (now IndusInd Securities Limited) concerning alleged violations of compliance requirements related to client fund settlements, margin reporting, and other regulatory obligations identified during an inspection.
Reliance Securities Limited (Now IndusInd Securities Limited)
- SEBI conducted an inspection from November 29, 2022, to December 08, 2022, covering the period from April 1, 2021, to November 30, 2022.
- SEBI alleged non-settlement of funds for inactive clients, with a total non-settlement amount of Rs. 28,52,17,101 for 10,102 instances.
- SEBI alleged mismatches in client ledger balances ranging from Rs. 47.7 Lakh to Rs. 1 Crore.
- SEBI alleged incorrect reporting of margin collection and client cash balances, with discrepancies ranging up to Rs. 54 Crores.
- SEBI alleged that the company provided loans to associates/related companies in lieu of interest, violating rules against engaging in business other than securities.
- SEBI alleged failure to refund upfront penalties of Rs. 2,86,795 to 5 clients.
- The Designated Authority recommended a regulatory censure against the Noticee.
- The Noticee filed a settlement application which was later withdrawn, leading to the resumption of enquiry proceedings.
Written from the document by AI, and checked against it. The original below is authoritative.
The original document
Document details
| Official title | Final Order in the matter of Reliance Securities Limited |
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | None (order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |