IIFL Capital Services Fined ₹2 Lakhs by SEBI

IIFL Capital Services Ltd has received an Adjudication Order from the Securities and Exchange Board of India (SEBI) imposing a monetary penalty of ₹2,00,000/-. The penalty is related to observations from an inspection of the company's Online Bond Platform Provider (OBPP) activities. SEBI noted failures in ensuring certain orders for listed debt securities were routed through a recognized stock exchange platform and in executing agreements with third-party sellers as per regulatory framework. The company stated that it has discontinued the previous platform and is implementing a new version compliant with SEBI guidelines, and has also executed the necessary agreements. IIFL Capital Services has confirmed that, apart from the penalty, there is no material impact on its financial, operational, or other activities.