Sebi says Philips Commodities India not 'fit and proper' to be commodities derivatives broker
The case pertains to the payment scam at the NSEL that came to light in 2013 with many entities, including brokers, have come under the scanner of Sebi and other probe agencies.
Sebi said it finds Philips Commodities India not a "fit and proper person to be granted registration to operate as a commodity derivatives broker".Image source: Reuters