NSE, BSE Declare Anugrah Stock & Broking As Defaulter

On Friday, BSE expelled Anugrah Stock & Broking from the exchange after declaring it a defaulter.

"The exchange has declared Anugrah Stock & Broking Pvt Ltd, a corporate trading member, of the exchange as defaulter... also expelled the said trading member... with effect from November 27, 2020," BSE said in a circular.

Investors having any outstanding claims against the brokerage house have been asked to file their claims with the exchange within 90 days (by February 25, 2021), it added.

This comes a day after the National Stock Exchange (NSE) declared Anugrah Stock and Broking a defaulter and expelled the brokerage house's membership with effect from 26 November, after close of market hours.

Earlier this week, BSE and NSE declared Karvy Stock Broking as a defaulter and expelled the brokerage house from membership.

On 13 November, markets regulator SEBI suspended Anugrah Stock & Broking Pvt Ltd (ASBPL) till the completion of enquiry proceedings after finding that it violated several market norms.

The matter pertains to involvement of ASBPL in activities other than securities, collecting funds from clients under assured return schemes, misappropriation of clients' funds and securities, among others.