Onelife Capital Advisors: SAT Remains Penalty Recovery, Retains Market Access Restriction, 'Fit and Proper' Status Untouched

Onelife Capital Advisors Ltd (OCAL) got a split judgment from the Securities Appellate Tribunal (SAT) in the face of continuing regulatory probe on charges of financial misstatement and governance shortcomings. SAT granted a stay on the prompt recovery of penalties levied by SEBI but denied revoking market access restrictions, while re-affirming OCAL's 'fit and proper' status for the time being.

 

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Sources: SEBI Final Order, Economic Times, Moneylife