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ICICI Securities

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2020

    HSIL sues ICICI Securities over Jaquar brand report

    Lawsuit filed

    HSIL said it filed a suit against ICICI Securities over an April 28 report that described Jaquar as India's No. 1 sanitaryware brand. HSIL alleged that the report was false and defamatory and disparaged its products and brand; these are allegations reported by HSIL, not a court determination of their truth.

    Company response

    • Investigation — HSIL Limited

      The report was brought to the notice of the company on April 28 whereby the company contacted the concerned persons at ICICI Securities and brought to their notice the fallacies and illegalities of their report.

    Source excerpt

    • On the failure of ICICI Securities to withdraw the report and issue a clarification as to the efalse and misleading' contents of the said report, the company has filed legal a suit titled eHSIL Ltd. & Anr Vs ICICI Securities & Ors' at the Delhi High Court.
    • Leading sanitaryware brand, HSIL Limited, has a filed a case against prominent brokerage ICICI Securities for a "defamatory and disparaging" research report, which said that Jauguar has become Indias No. 1 sanitaryware brand.
    Source

  2. 2019

    ICICI Securities settles Sebi stockbroker-norms case

    Settlement

    ICICI Securities settled a case with India's market regulator Sebi concerning alleged violations of stockbroker norms by paying Rs 28.68 lakh in settlement charges. The company made the settlement without admitting the findings of fact or conclusions of law, and Sebi disposed of the adjudication proceedings.

    Source excerpt

    • ICICI Securities Ltd has settled with markets regulator Sebi a case of alleged violation of stock broker norms by paying over Rs 28 lakh towards settlement charges.
    • Thereafter, Sebi's high-powered advisory committee recommended the case for settlement on payment of Rs 28.68 lakh. This was also approved by Sebi's panel of whole-time members, following which ICICI Securities remitted the amount.
    • Pending adjudication proceedings, ICICI Securities filed a settlement application with the regulator "without admitting the findings of fact and conclusions of law."
    Source