Description
NSE has expelled Trdez Investment Private Limited with immediate effect, following BSE's expulsion on March 20, 2026, in compliance with Ministry of Finance circular requirements.
Summary
NSE has expelled Trdez Investment Private Limited (SEBI Reg. No. INZ000311938) with immediate effect. This follows BSE’s expulsion of the same entity vide circular ref. no. 20260320-34 dated March 20, 2026. The action is taken in compliance with Ministry of Finance circular ref. no. 1/26/SE/91 dated August 12, 1991.
Key Points
- Trdez Investment Private Limited has been expelled from NSE with immediate effect
- SEBI Registration Number: INZ000311938
- Expulsion mirrors BSE’s action dated March 20, 2026
- No Authorised Persons are affiliated with the expelled Trading Member as per Exchange records
- Seven directors are named in the annexure, some with tenure end dates per MCA records
Regulatory Changes
No new regulatory changes introduced. The action is pursuant to existing provisions:
- Ministry of Finance circular ref. no. 1/26/SE/91 dated August 12, 1991 (requiring coordinated expulsion across exchanges)
- Sub-rule 4(A) & 5 under Rule 8 of Securities Contract (Regulations) Rule, 1957 (SCRR), which disqualifies individuals from holding Director/Partner positions in exchange member firms if they previously held such roles in a defaulted or expelled member
Compliance Requirements
- All Trading Members must comply with Chapter IV of NSEIL Rules regarding transactions with Trdez Investment Private Limited
- Directors of the expelled firm (listed in Annexure A) are disqualified from holding Director/Partner positions in any exchange member company or firm
- Members and investors are required to take note of the expulsion
Important Dates
- March 20, 2026: BSE expelled Trdez Investment Private Limited
- March 23, 2026: NSE expelled Trdez Investment Private Limited with immediate effect
Impact Assessment
The expulsion has immediate effect and impacts all trading members who may have had transactions or dealings with Trdez Investment Private Limited. The seven named directors face disqualification from directorship or partnership in any NSE/BSE member firm. Market impact is limited to counterparty risk management for members who transacted with this firm. Investors who dealt through Trdez Investment Private Limited should take note and seek alternative arrangements.
Directors of Trdez Investment Private Limited (Annexure A)
| Sr. No. | Name | PAN |
|---|---|---|
| 1 | Agast Mishra (per MCA - till 30/04/2025) | CKTPM9780L |
| 2 | Rahul Kalokhe | ARZPK4525A |
| 3 | Gaurav Sukhdeve | CRMPS0052B |
| 4 | Yayati Mishra | BJOPM8301C |
| 5 | Sachin Khadtare | BKOPK2764C |
| 6 | Prasad Kulkarni | BNKPK4786P |
| 7 | Chetan Dhar (per MCA - till 31/05/2025) | CAAPD9314E |
Impact Justification
Expulsion of a trading member is a severe regulatory action with immediate effect, disqualifying associated directors from future roles in exchange member firms.