IL&FS Securities Services pays Rs 7.8 lakh to settle case with Sebi
IL&FS Securities Services Ltd has settled with markets regulator Sebi a case of alleged violation of market norms in respect of its risk participation arrangement with IL&FS Financial Services Ltd.
The firm paid Rs 7.8 lakh towards settlement charges, as per a settlement order issued on Wednesday.
IL&FS Securities Services is a clearing member of the National Stock Exchange and is also registered with Sebi, while IL&FS Financial Services is registered with the Reserve Bank of India as a non-banking financial company (NBFC).
IL&FS Securities Services had provided certain support services to IL&FS Financial Services other than its primary business activities, the order noted.
