How to Withdraw from a Partnership in India
Starting a new business with a partner is exciting, isn’t it? But, as seen at times, things do not always quite go as expected. Any of the partners, voluntaril ...
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- The applicant must be eligible to become a member of any stock exchange.
- In order to effectively perform its activities as a Stock Broker License, the applicant must have the required infrastructure, including adequate office, equipment, and manpower.
- The applicant must also not be new to the business; they must have some relevant experience in trading securities.
- The applicant or any of its partners, directors, or employees are or were subject to any disciplinary proceedings under the relevant laws.
- If the applicant is considered fit and proper as specified in Schedule II of the SEBI (Intermediaries) Regulations, 2008
- If it has any financial liability under SEBI Act, Securities Contracts (Regulation) Act, 1956 or any other relevant rules or regulations.
- If the certification under SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 20071 or as may be specified regulation is taken or not.
- Net worth and deposit requirements specified in Schedule VI are fulfilled by the applicant.
- The applicant must satisfy all the eligibility criteria mentioned under Rule 8 of Securities Contracts (Regulations) Rules, 1957. This rule specifies the constitution types eligible to apply, minimum director requirement, work experience conditions, etc.
- Initiate the application process for a stock broker's certificate by completing Form A from Schedule I. Submit this form to the Board via the appropriate stock exchange.
- Upon receipt of the application form, the stock exchange must promptly forward it to the Board within thirty days.
- As part of the evaluation process for the certificate issuance, the Board reserves the right to request additional information or seek clarifications from the applicant or the relevant stock exchange concerning securities trading, settlement procedures, and related matters.
- The Board will approve the registration if, upon a thorough examination of the application, they ascertain that all requirements outlined in Regulation 5 have been met. Additionally, they will notify the stock market once the certificate has been issued.
- In the event that the Board deems the information provided in the application inadequate, they have a thirty-day window to inform both the applicant and the stock exchange of their decision. Prior to reaching a final verdict, the applicant will be given an opportunity to present their case.
- Obtain membership as a Stock Exchange trader to operate.
- Expert guidance to comply with the rules, regulations, and bye-laws of the relevant stock exchange.
- Notify the Board in case of any alterations in control or management.
- Helping to adhere to the specified code of conduct outlined in Schedule II of the Regulations.
Mr. Manish is highly professional. We get the best service and advice. Very punctual and dedicated team, always stays upfront in informing anything to avoid obligations. Thank you so much.
Raman Shukla
COO at VSERV Infosystems & Founder VSERV Academy
Mr. Manish Mishra's team provided invaluable guidance and expertise in Fintech and NBFC advisory, helping us navigate complex financial regulations and achieve remarkable growth in our business. Their insights are truly a game-changer.
Abhishek M R
Managing Director AMR FINANCE PVT LTD
Mr. Manish, as our Virtual CFO, has been instrumental in propelling our business to spontaneous growth. His expert guidance and strategic insights have transformed our financial landscape, paving the way for remarkable success.
Ajay Kumar
Founder & CEO - Eagabriz Shipping Pvt Ltd
Stock Brokers need to register with SEBI.
To register as a stock broker, you need to fill out and submit application Form A for registration with SEBI.
Apply for SEBI registration: Apply to SEBI through Form A along with the necessary documents, including identification, qualifications, experience, CIBIL Score, net worth certificate, income tax returns, and an application fee of Rs. 5,000.
The certificate of registration remains valid for three years.
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