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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 29-APR-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

SUB-BROKERS: DELAYED/FAILED TO MAKE PAYMENT TO CLIENTS

S.No. ENTITY DIRECTORS/ PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
21
History of entity/person SUBHASH GANGWAL,M/S  

(Sub-Broker of JSEL SECURITIES LTD. , Member : BSE)
History of entity/person SUBHASH GANGWAL
  		COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DEFICIENCIES IN CLIENT DATABASE

DID NOT EXERCISE DUE SKILL AND DILIGENCE

DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS  		IMPOSED PENALTY RS.40,000

03-NOV-2004 		 
22
History of entity/person V.V.BAGUL ASSOCIATES  

(Sub-Broker of LATIN MANHARLAL SECURITIES PVT.LTD. , Member : BSE)
  FAILED TO DELIVER SHARES TO CLIENTS

DID NOT MAKE PAYMENT TO CLIENTS  		CANCELLED REGISTRATION AS SUB-BROKER FROM 27-FEB-2002

27-FEB-2002 		 
23
History of entity/person Y.SATEESH KUMAR,M/S.  

(Sub-Broker of HSE SECURITIES LTD. , Member : NSE)
History of entity/person Y.SATEESH KUMAR
  		INDULGED IN INDIRECT FUNDING TO CLIENTS

DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK

DID NOT COLLECT MARGINS FROM CLIENTS

DID NOT MAINTAIN CLIENT DATABASE

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME  		IMPOSED PENALTY RS.75,000

21-SEP-2006 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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