NSE asks investors to file claims against Unicon
10/09/2014 17:18
The National Stock Exchange (NSE) has asked investors to file for their claims pending with brokerage firm Unicon Securities, within 3 months, said the media report.
Unicon Securities had been expelled by NSE last week on charges of violating the exchange's regulations.
"The constituents of... Expelled member (Unicon Securities) are hereby advised to lodge claims, if any (in prescribed claim form) against the trading member within 3 months from the date of this notification," NSE said in a public notice on Wednesday.
Further, NSE said that "no such claims filed beyond 3 months will be entertained by the exchange against the trading member and it shall be deemed that no such claims exist against the trading member or such claims, if any, shall be deemed to have waived".
According to the bourse, the maximum compensation limit per investor if found due and payable out of the Investor Protection Fund is Rs 15 lakh.
The exchange also informed the general public that as per relevant rules, sub-brokers/authorised persons registered through Unicon Securities "ceased to exist" and as a result not authorised to deal in that capacity.
10/09/2014 17:18
The National Stock Exchange (NSE) has asked investors to file for their claims pending with brokerage firm Unicon Securities, within 3 months, said the media report.
Unicon Securities had been expelled by NSE last week on charges of violating the exchange's regulations.
"The constituents of... Expelled member (Unicon Securities) are hereby advised to lodge claims, if any (in prescribed claim form) against the trading member within 3 months from the date of this notification," NSE said in a public notice on Wednesday.
Further, NSE said that "no such claims filed beyond 3 months will be entertained by the exchange against the trading member and it shall be deemed that no such claims exist against the trading member or such claims, if any, shall be deemed to have waived".
According to the bourse, the maximum compensation limit per investor if found due and payable out of the Investor Protection Fund is Rs 15 lakh.
The exchange also informed the general public that as per relevant rules, sub-brokers/authorised persons registered through Unicon Securities "ceased to exist" and as a result not authorised to deal in that capacity.
