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Sebi slaps Rs 4.65 cr fine on Kassa Finvest, 7 individuals for misusing clients’ securities.

Regulator Sebi on Wednesday imposed a total fine of Rs 4.65 crore on Kassa Finvest Pvt Ltd and seven individuals for misusing clients’ securities, among other violations.

It was found that Kassa Finvest indulged in activities other than stockbroking business, such as providing assured returns to its clients and investors, as per a Sebi order.

Further, the watchdog noted that the broking firm had executed trades on behalf of the clients with a condition that the margin money can be used for trading in any segment/ exchange. Subsequent payments made to clients towards assured return establishes that Kassa Finvest had never disclosed to clients the transactions entered on their behalf, it added.


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