DAM Capital Advisors Limited receives warning and deficiency letter from SEBI

SEBI conducted thematic inspection of the Company in the month of January 2025 for the period from February 1, 2024, to August 20, 2024, for the theme "Upstreaming and Down streaming of the Clients' Fund". Responses to the Inspection queries were submitted on timely manner.

Following a review of the responses, SEBI issued an administrative warning noting a few areas for improvement. These included instances where client funds were not upstreamed to the Clearing Corporation within the prescribed timelines, certain transfers of brokerage amounts were made directly to the Company's bank account from Client's upstreaming account instead of routing through the designated settlement account, and some reporting deficiencies were observed in the segregation file, such as incorrect values in sample and missing retention reason codes.

The authority has warned to be careful in future and improve compliance standards to avoid recurrence of such instances.

Shares of DAM Capital Advisors Limited was last trading in BSE at Rs. 231.30 as compared to the previous close of Rs. 221.50. The total number of shares traded during the day was 111823 in over 1488 trades.

The stock hit an intraday high of Rs. 233.00 and intraday low of 222.15. The net turnover during the day was Rs. 25566203.00.

Source : Equity Bulls

Keywords

DAMCapitalAdvisors INE284H01025 Stockbroking SEBI Warning Deficiency