| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
OM SHARES & SECURITIES
(Sub-Broker of
M.P.VORA SHARES & SECURITIES LTD.
, Member : BSE)
|
|
|
|
SAMEER K.CHOTAI
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT COLLECT MARGINS FROM CLIENTS
INDULGED IN OFF-MARKET TRANSACTIONS
|
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 14-OCT-2004 TILL PENDING ENQUIRY
14-OCT-2004
|
|
| 42 |
|
|
P.K.CAPITAL SERVICES PVT.LTD.
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DID NOT FRAME CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
DEALT WITH UN-REGISTERED SUB-BROKERS
|
IMPOSED PENALTY RS.1,00,000
03-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.30,000 FROM RS.1,00,000
|
| 43 |
|
|
R.KOHLI & CO.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
|
IMPOSED PENALTY RS.20,000
30-JAN-2006
|
|
| 44 |
|
|
RAJ ENTERPRISES
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
MUSTAFA LAKDAWALA
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
IRREGULARITIES IN REGISTRATION OF CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
DID NOT FRAME CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING
|
IMPOSED PENALTY RS.30,000
08-NOV-2005
|
|
| 45 |
|
|
RAJ ENTERPRISES
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
MUSTAFA LAKDAWALA
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
IRREGULARITIES IN REGISTRATION OF CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
DID NOT FRAME CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING
|
IMPOSED PENALTY RS.30,000
08-NOV-2005
|
|
| 46 |
|
|
RAJEEV BANSAL,M/S
(Sub-Broker of
BANSAL SHAREVEST SERVICES LTD.
, Member : NSE)
|
|
|
|
RAJEEV BANSAL
|
|
EXECUTED SINGLE TRADES AT EXCHANGE TO ASCERTAIN PRICES FOR EXECUTING BULK ORDERS ILLEGALLY OUTSIDE THE EXCHANGE MECHANISM
ALLOWED TERMINAL TO UNAUTHORISED USERS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
|
CANCELLED REGISTRATION AS SUB-BROKER FROM 18-JUL-2006
26-JUN-2006
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.1,00,000 VIDE CONSENT ORDER)
31-JUL-2008
|
SAT: IMPUGNED ORDER MODIFIED WITH NO ORDER AS TO COST AS APPELLANT AGREED TO CONSENT ORDER DATED 31/07/2008
|
| 47 |
|
|
RAJENDRA R.MEHTA,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
RAJENDRA R.MEHTA
|
|
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
PAID BROKERAGE TO CLIENTS AND VIOLATED CODE OF CONDUCT OF STOCK BROKER REGULATIONS
GAVE SHORT TERM LOANS TO SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 48 |
|
|
RAJRATHAN FINANCIAL SERVICES PVT.LTD.
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
DID NOT EXERCISE DUE CARE AND DILIGENCE IN CONDUCT OF ITS BUSINESS AS A BROKER
DEFICIENCIES IN CLIENT DATABASE
UNDERTOOK PRINCIPAL TO PRINCIPAL TRADE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT DATABASE
DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
IMPOSED PENALTY RS.4,00,000
10-JUN-2009
|
|
| 49 |
|
|
RAMAN RAM NIWAS,M/S
(Sub-Broker of
JSEL SECURITIES LTD.
, Member : BSE)
|
|
|
|
RAMAN ROONGTA
|
|
DEFAULTED IN MAINTENANCE OF ORDER CONFIRMATION SLIP
DID NOT MAINTAIN SEGREGATION BETWEEN SUB-BROKER FUNDS AND OWN FUNDS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
DEALT IN CASH WITH CLIENTS
COMMITTED IRREGULARITIES PERTAINING TO CLIENTS SECURITIES
DEFICIENCIES IN REGISTRATION FORMS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT FILE REQUISITE AUDITOR'S CERTIFICATE IN PRESCRIBED FORMAT TO SEBI AND TO STOCK EXCHANGE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DID NOT EXERCISE DUE CARE AND DILIGENCE
|
IMPOSED PENALTY RS.5,00,000
14-SEP-2007
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
25-AUG-2008
|
SAT: AGREED TO PAY RS.1,00,000 AS PER CONSENT ORDER HENCE APPLIED TO RECTIFY THE ORDER. APPEAL ACCEPTED
|
| 50 |
|
|
S.R.AGARWAL & CO.
(Sub-Broker of
VSE SECURITIES LTD.
, Member : BSE)
|
|
|
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
DEALT IN CASH WITH CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
DEALT WITH UNREGISTERED ENTITIES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 07-FEB-2006 TO 06-AUG-2006
17-JAN-2006
|
|
| 51 |
|
|
SAIKALA ASSOCIATES PVT.LTD.
(Sub-Broker of
HSE SECURITIES LTD.
, Member : NSE)
|
|
|
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 17-JAN-2005 TO 16-FEB-2005
27-DEC-2004
|
SAT: IMPUGNED ORDER MODIFIED BY CONVERTING SUSPENSION PERIOD OF 1 MONTH INTO A PENALTY OF RS.3,00,000
|
| 52 |
|
|
SHARAVU SECURITIES PVT.LTD.
(Sub-Broker of
BGSE FINANCIALS LTD.
, Member : NSE)
|
|
|
|
N.M.GIRISH
|
|
|
RAMCHANDRA
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
|
IMPOSED PENALTY RS.20,000
31-DEC-2004
|
|
| 53 |
|
|
SNR SHARES & STOCK SERVICES
(Sub-Broker of
MPSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
SURAJ NARAYAN RATHI
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFAULTED IN PAY-IN OBLIGATIONS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
|
IMPOSED PENALTY RS.50,000 ALONG WITH OTHER ENTITIES/PERSONS
20-FEB-2009
|
|
| 54 |
|
|
SUBHASH GANGWAL,M/S
(Sub-Broker of
JSEL SECURITIES LTD.
, Member : BSE)
|
|
|
|
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
|
|
| 55 |
|
|
SUPER FINVEST SERVICES PVT.LTD.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT DATABASE
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DEFAULTED IN MAINTENANCE OF GENERAL LEDGER
DID NOT MAINTAIN DTR REGISTER TO KEEP DETAILS OF DAILY MATCHED TRANSACTIONS OF A MEMBER ENTERED WITH OTHER MEMBERS ON FLOOR OF EXCHANGE
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN DUPLICATE COPIES OF CONFIRMATION MEMOS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 17-JAN-2007 TO 31-JAN-2007
27-DEC-2006
|
|
| 56 |
|
|
URMILA DHYAWALA,M/S
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
URMILA DHYAWALA
|
|
DID NOT FURNISH REQUISITE INFORMATION DURING INVESTIGATION
DID NOT ISSUE CONTRACT NOTES
DID NOT ISSUANCE OF CONTRACT NOTES IN TIME
DID NOT MAINTAIN CLIENT DATABASE
DEALT WITH UN-REGISTERED SUB-BROKERS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 16-DEC-2010 TO 15-DEC-2011
25-NOV-2010
|
|
| 57 |
|
|
V & U SECURITIES PVT.LTD.
(Sub-Broker of
ASE CAPITAL MARKETS LTD.
, Member : BSE)
|
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
EXECUTED TRANSACTIONS FOR CLIENT BEFORE OBTAINING CLIENT REGISTRATION FORMS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH A CLIENT WHO IS A DEFAULTER
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 58 |
|
|
VENUGOPAL MALANI,M/S
(Sub-Broker of
HSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
VENUGOPAL MALANI
|
|
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DELAYED SUBMISSION OF AUDIT REPORT TO THE EXCHANGE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
|
IMPOSED PENALTY RS.2,00,000
30-DEC-2004
|
|
| 59 |
|
|
VRS SECURITIES LTD.
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
DEFAULTED IN PAY-IN OBLIGATIONS
DEFAULTED IN MAINTENANCE OF CLIENT LEDGER
DID NOT EXERCISE DUE CARE AND DILIGENCE
DEALT WITH UN-REGISTERED SUB-BROKERS
DISCREPANCIES IN CLIENT CODES
ALLOTTED MULTIPLE CLIENT CODES TO ONE CLIENT
DID NOT ENTER INTO TRIPARTITE AGREEMENT WITH CLIENTS
|
IMPOSED PENALTY RS.1,50,000
28-NOV-2008
|
|
| 60 |
|
|
Y.SATEESH KUMAR,M/S.
(Sub-Broker of
HSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
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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| Page 3 of 4
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