Adjudication Order in the matter of Jainam Broking Limited

This order details SEBI's adjudication proceedings against Jainam Broking Limited for alleged non-compliances with stock broker regulations and circulars identified during inspections in 2023 and 2024. It outlines the specific allegations, the company's responses, and the procedural history of the inquiry.

Jainam Broking Limited (PAN: AABCJ3918N)

• SEBI conducted inspections for periods April 2021–Sept 2022 and Nov 2022–Nov 2023.
• Allegations include misuse of client funds, funding clients beyond T+2+5 days, and KYC/KRA process failures.
• SEBI observed a difference of Rs. 50,88,170/- in reported bank balances as on 30.09.2022.
• Allegations include mismatches in email/mobile numbers, incorrect reporting of brokerage income, and cyber-security non-compliance (e.g., lack of STQC certifications, VAPT, and CERT-IN registration).
• SEBI alleged the company used client bank accounts for purposes other than specified.
• The company accepted the allegations during the hearing on July 31, 2026, and stated corrective steps were taken.
• The order is an adjudication proceeding under Section 15-I of the SEBI Act and Section 23-I of the SCRA Act.

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