| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
I TRADE LTD.
(Sub-Broker of
MSE FINANCIAL SERVICES LTD.
, Member : BSE)
|
|
|
DID NOT ISSUE CONFIRMATION MEMOS IN PRESCRIBED FORMAT
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEFAULTED IN MEETING PAY-IN-OBLIGATION AND MARGIN TO STOCK EXCHANGE
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 22 |
|
|
INFIMAGE SHARES & STOCK
(Sub-Broker of
GROWTH AVENUES LTD.
, Member : NSE)
|
|
|
|
JAYAKANT K.DIWAN
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENT TO CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DEALT IN CASH WITH CLIENTS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT EXERCISE DUE CARE AND DILIGENCE IN EXECUTING SUB-BROKING ACTIVITIES
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
27-OCT-2006
|
SEBI VIDE ORDER DATED 20/12/2007 APPOINTED AN OFFICER TO CONDUCT PROCEEDINGS. AS SUB BROKER HAD ALREADY PAID PENALTY, OFFICER RECOMMENDED TO DROP THE PROCEEDINGS. PROCEEDINGS STANDS DISPOSED OFF ACCORDINGLY
|
| 23 |
|
|
JASHNANI LEASING & FINANCE LTD.
(Sub-Broker of
NETWORTH STOCK BROKING LTD.
, Member : BSE)
|
|
|
DID NOT ENTER INTO TRIPARTITE AGREEMENT WITH CLIENTS
|
CANCELLED REGISTRATION AS SUB-BROKER FROM 02-NOV-2009
12-OCT-2009
|
|
| 24 |
|
|
JHAVERI SECURITIES
(Sub-Broker of
RAJESH JHAVERI STOCK BROKERS PVT.LTD.
, Member : ASE)
|
|
|
|
TUSHAR SHARADBHAI JHAVERI
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAINTAIN DUPLICATE COPIES OF CONFIRMATION MEMOS
DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION
|
IMPOSED PENALTY RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS
03-AUG-2006
|
AS APPLICANT FAILED TO PAY PENALTY OF RS.1,00,000 IMPOSED VIDE ORDER DATE 03/08/2006 HENCE CERTIFICATE OF SUB-BROKER CANCELLED IMMEDIATELY ON EXPIRY OF TWENTY ONE DAYS FORM THE DATE OF THIS ORDER
INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 25 |
|
|
KANKESHWARI SECURITIES
(Sub-Broker of
ACTION FINANCIAL SERVICES (INDIA) LTD.
, Member : BSE)
|
|
|
|
NIMESH CHITALIA
|
|
DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING WITH CLIENTS IN SCRIP OF SHUKUN CONSTRUCTION LTD.
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
AIDED AND ABETTED CLIENTS IN EXECUTING SYNCHRONIZED AND REVERSAL OF TRADE TRANSACTIONS IN SCRIP OF SHUKUN CONSTRUCTIONS LTD.
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
25-MAY-2009
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.3,00,000, LEGAL EXPENSES RS.32,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
05-JAN-2010
|
SAT: ORDER DATED 25/05/2009 DISPOSED OFF. AS APPLICANT AGREED TO PAY RS.3,00,000 TOWARDS AO PENALTY AND RS.32,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 26 |
|
|
KARUR MAV FINANCIAL SERVICES
(Sub-Broker of
ANUSH SHARES & SECURITIES PVT.LTD.
, Member : MDSE)
|
|
|
|
B.LAKSHMI
|
|
|
M.A.RAGHUNATHAN
|
|
|
M.R.BALAJI NARASIMHAN
|
|
|
M.S.JEEVAREKHA
|
|
|
M.V.USHA
|
|
|
R.VARALAKSHMI
|
|
DEFAULTED IN VERIFYING FINANCIAL CAPABILITIES AND NET WORTH OF CLIENTS
GAVE SHORT TERM LOANS TO CLIENTS
DID NOT EXERCISE DUE CARE AND DILIGENCE WHILE EXECUTING TRADES IN SCRIP OF KARUR VYSYA BANK LTD.
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
13-JAN-2006
|
|
| 27 |
|
|
KARUR MAV FINANCIAL SERVICES
(Sub-Broker of
ANUSH SHARES & SECURITIES PVT.LTD.
, Member : NSE)
|
|
|
|
B.LAKSHMI
|
|
|
M.A.RAGHUNATHAN
|
|
|
M.R.BALAJI NARASIMHAN
|
|
|
M.S.JEEVAREKHA
|
|
|
M.V.USHA
|
|
|
R.VARALAKSHMI
|
|
DEFAULTED IN VERIFYING FINANCIAL CAPABILITIES AND NET WORTH OF CLIENTS
GAVE SHORT TERM LOANS TO CLIENTS
DID NOT EXERCISE DUE CARE AND DILIGENCE WHILE EXECUTING TRADES IN SCRIP OF KARUR VYSYA BANK LTD.
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
13-JAN-2006
|
|
| 28 |
|
|
KASTHURIRANGAN & CO.
(Sub-Broker of
MSE FINANCIAL SERVICES LTD.
, Member : BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
EXECUTED MATCHING TRANSACTIONS
INDULGED IN EVASION OF MARGIN MONEY
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
02-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.25,000 FROM RS.1,00,000
|
| 29 |
|
|
KOTHARI INVESTMENT & STOCK BROKING SERVICES
(Sub-Broker of
ISE SECURITIES & SERVICES LTD.
, Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
IMPOSED PENALTY RS.20,000
30-JAN-2006
|
|
| 30 |
|
|
KUMAR INVESTMENTS
(Sub-Broker of
GROWTH AVENUES LTD.
, Member : NSE)
|
|
|
|
PRAVINBHAI PARSHATAMBHAI DUDHAT
|
|
DID NOT ISSUE CONFIRMATION MEMOS IN PRESCRIBED FORMAT
FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEALT IN CASH WITH CLIENTS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
03-AUG-2007
|
INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 31 |
|
|
LAKSH SHREE FINANCIAL SERVICES LTD.
(Sub-Broker of
OTCEI SECURITIES LTD.
, Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFICIENCIES IN CLIENT DATABASE
DID NOT PASS ON CORPORATE BENEFITS TO CLIENTS
|
IMPOSED PENALTY RS.15,000
17-NOV-2004
|
|
| 32 |
|
|
MANSUKHLAL JAGABHAI TANTI,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
MANSUKHLAL JAGABHAI TANTI
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT OPEN SEPARATE CLIENT'S BANK ACCOUNTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
DEALT IN CASH WITH CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 33 |
|
|
MITHANI SECURITIES PVT.LTD.
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MAINTAINED RUNNING ACCOUNTS OF CLIENTS FOR A CONSIDERABLE PERIOD OF TIME WITHOUT ANY RECEIPTS/PAYMENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
PAID BROKERAGE TO CLIENTS AND VIOLATED CODE OF CONDUCT OF STOCK BROKER REGULATIONS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 15-FEB-2006 TO 14-MAY-2006
25-JAN-2006
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF SUSPENSION FROM 3 MONTHS TO 2 WEEKS
|
| 34 |
|
|
MITHANI SECURITIES PVT.LTD.
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS IN MATTER OF OASIS MEDIA MATRIX LTD.
DID NOT EXERCISE DUE DILIGENCE IN MATTER OF OASIS MEDIA MATRIX LTD.
|
IMPOSED PENALTY RS.1,00,000
31-MAR-2009
|
SAT: IMPUGNED ORDER DATED 31/03/2009 MODIFIED BY REDUCING PENALTY AMOUNT TO RS.50,000 FROM RS.1,00,000, DIRECTED TO DEPOSIT WITHIN FOUR WEEKS WITH NO ORDER AS TO COSTS
|
| 35 |
|
|
MODERN SECURITY TRADERS
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN DUPLICATE COPIES OF CONFIRMATION MEMOS
DID NOT MAINTAIN CLIENT DATABASE
DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 28-AUG-2007 TO 11-SEP-2007
07-AUG-2007
|
|
| 36 |
|
|
MPS SECURITIES
(Sub-Broker of
RENAISSANCE SECURITIES LTD.
, Member : BSE)
|
|
|
|
AJAY JAIN
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI
|
IMPOSED PENALTY
16-JUN-2010
|
INCLUDED IN SEBI LIST DATED 30/09/2010, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 37 |
|
|
MPS SECURITIES
(Sub-Broker of
SHAILESH HIRALAL DOSHI
, Member : NSE)
|
|
|
|
AJAY JAIN
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI
|
IMPOSED PENALTY
16-JUN-2010
|
INCLUDED IN SEBI LIST DATED 30/09/2010, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 38 |
|
|
MUKESH P.DOSHI,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
MUKESH P.DOSHI
|
|
DID NOT MAINTAIN CLIENT AGREEMENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
28-DEC-2005
|
|
| 39 |
|
|
NARENDRA SHANKERLAL TANNA,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
NARENDRA SHANKERLAL TANNA
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET IN SCRIP OF BHORUKA FINANCIAL SERVICES LTD.
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT COLLECT MARGINS FROM CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
22-FEB-2007
|
|
| 40 |
|
|
NARENDRA SHANKERLAL TANNA,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
NARENDRA SHANKERLAL TANNA
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET IN SCRIP OF BHORUKA FINANCIAL SERVICES LTD.
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT COLLECT MARGINS FROM CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
22-FEB-2007
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
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| Page 2 of 4
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