| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
AADYA STOCKS PVT.LTD.
(Sub-Broker of
MSE FINANCIAL SERVICES LTD.
, Member : BSE)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT FURNISH AUDITOR'S CERTIFICATE ON QUARTERLY BASIS REGARDING COLLECTION OF MINIMUM MARGIN FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEFAULTED IN MEETING PAY-IN-OBLIGATION AND MARGIN TO STOCK EXCHANGE
DID NOT TRANSFER DIVIDEND TO CLIENTS ACCOUNT
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 02-FEB-2006 TO 01-JUN-2006
13-JAN-2006
|
|
| 2 |
|
|
AKRITI SECURITIES PVT.LTD.
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
CARRIED OUT TRANSACTION IN ITS OWN NAME INSTEAD OF CLIENTS NAME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 29-NOV-2006 TO 13-DEC-2006
08-NOV-2006
|
|
| 3 |
|
|
CHOTHANI GROWTH & INVESTMENTS PVT.LTD.
(Sub-Broker of
ISE SECURITIES & SERVICES LTD.
, Member : NSE)
|
|
|
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
PERMITTED CLIENTS TO EXECUTE TRADE BEFORE OBTAINING CLIENT REGISTRATION FORM
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT COLLECT MARGINS FROM CLIENTS
INDULGED IN INDIRECT FUNDING TO CLIENTS
FAILED TO DELIVER SHARES TO CLIENTS
DID NOT MAKE PAYMENT TO CLIENTS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLOTTED MULTIPLE CLIENT CODES TO ONE CLIENT
|
IMPOSED PENALTY RS.1,50,000
31-JAN-2006
|
|
| 4 |
|
|
DREAMS CAPITAL PVT.LTD.
(Sub-Broker of
PSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
N.PRAKASH KUMAR
|
|
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.30,000
29-NOV-2004
|
|
| 5 |
|
|
GEETA SHARE ENTERPRISES
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT REDRESS INVESTOR COMPLAINTS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 09-NOV-2004 TO 08-MAY-2005
19-OCT-2004
|
|
| 6 |
|
|
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
|
|
| 7 |
|
|
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
|
| 8 |
|
|
J.GEETHA,M/S
(Sub-Broker of
MSE FINANCIAL SERVICES LTD.
)
|
|
|
|
J.GEETHA
|
|
DID NOT ADHERE TO THE RULES, BYELAWS AND REGULATIONS OF THE STOCK EXCHANGE
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 02-NOV-2004 TO 01-MAY-2005
12-OCT-2004
|
|
| 9 |
|
|
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
|
| 10 |
|
|
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
|
|
| 11 |
|
|
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
|
|
| 12 |
|
|
MANOJ SARNA & CO.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
MANOJ SARNA
|
|
DID NOT MAINTAIN PURCHASE AND SALE NOTES IN PRESCRIBED FORMAT
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEALT IN CASH WITH CLIENTS
DID NOT MAKE PAYMENT TO CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
TRANSFERRED FUNDS BETWEEN DIFFERENT CLIENT ACCOUNTS
INDULGED IN FUNDS LENDING/BORROWING NOT RELATED TO/CONSEQUENTIAL TO/CONNECTED TO SECURITIES MARKET
|
IMPOSED PENALTY RS.1,50,000
10-NOV-2005
|
|
| 13 |
|
|
MANOJ SARNA & CO.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
MANOJ SARNA
|
|
DID NOT MAINTAIN PURCHASE AND SALE NOTES IN PRESCRIBED FORMAT
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEALT IN CASH WITH CLIENTS
DID NOT MAKE PAYMENT TO CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
TRANSFERRED FUNDS BETWEEN DIFFERENT CLIENT ACCOUNTS
INDULGED IN FUNDS LENDING/BORROWING NOT RELATED TO/CONSEQUENTIAL TO/CONNECTED TO SECURITIES MARKET
|
IMPOSED PENALTY RS.1,50,000
10-NOV-2005
|
|
| 14 |
|
|
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
|
|
| 15 |
|
|
MERBANC BSNV SECURITIES LTD.
(Sub-Broker of
HSE SECURITIES LTD.
, Member : NSE)
|
|
|
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
23-JAN-2008
|
|
| 16 |
|
|
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
|
| 17 |
|
|
RAJ INVESTMENTS
(Sub-Broker of
PSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
RAJESH B.SHAH
|
|
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.40,000 ALONG WITH OTHER ENTITIES/PERSONS
10-DEC-2004
|
|
| 18 |
|
|
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
|
| 19 |
|
|
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
|
|
| 20 |
|
|
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
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
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