| 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 |
|
|
ADITYA SECURITIES
|
|
|
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
ALLEGED SUBMISSION OF FALSE INFORMATION TO INSPECTION OFFICIALS
ALLEGED EXTENDING MARGIN FACILITY TO CLIENTS
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
04-DEC-2007
|
|
| 3 |
|
|
AGARWALLA SECURITIES PVT.LTD.
(Sub-Broker of
SANJAY KUMAR THARD
, Member : CSE)
|
|
|
COMMITTED IRREGULARITIES IN MAINTENANCE OF CONFIRMATION NOTES ISSUED TO CLIENTS
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
IRREGULARITIES IN REGISTRATION OF CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 13-NOV-2002 TO 12-MAY-2003
05-NOV-2002
|
|
| 4 |
|
|
ALPESH JAGDISHCHANDRA PAREKH,M/S
(Sub-Broker of
SKSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
ALPESH JAGDISHCHANDRA PAREKH
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
COMMITTED IRREGULARITIES IN MAINTENANCE OF COUNTERFOILS OR DUPLICATES OF CONTRACT NOTES
DID NOT ISSUE CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
|
IMPOSED PENALTY RS.1,50,000
31-JAN-2007
|
SAT: IMPUGNED ORDER DATED 31/01/2007 MODIFIED BY REDUCING PENALTY AMOUNT TO RS. 50,000 FROM RS.1,50,000
|
| 5 |
|
|
B.K.SHARES & STOCK BROKERS PVT.LTD.
(Sub-Broker of
ASE CAPITAL MARKETS LTD.
, Member : BSE)
|
|
|
|
KAMLESH B.SHAH
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
|
IMPOSED PENALTY RS.40,000
31-MAR-2006
|
|
| 6 |
|
|
BULLS INC.
(Sub-Broker of
JOINDRE CAPITALS SERVICES LTD.
, Member : NSE)
|
|
|
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DEFAULTED IN MAINTENANCE OF GENERAL LEDGER
DEFAULTED IN MAINTENANCE OF JOURNAL
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DID NOT ISSUE PURCHASE OR SALE NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN CLIENT AGREEMENTS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 23-MAY-2003 TO 22-NOV-2003
09-MAY-2003
|
|
| 7 |
|
|
C&S SECURITIES PVT.LTD.
(Sub-Broker of
MSE FINANCIAL SERVICES LTD.
)
|
|
|
|
A.CHANDRASHEKHAR
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
|
IMPOSED PENALTY RS.20,000
31-DEC-2004
|
|
| 8 |
|
|
CHHEDA SHARES & SECURITIES
(Sub-Broker of
MANIPUT INVESTMENTS PVT.LTD.
, Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF SAUDA BOOK
DID NOT OPEN SEPARATE CLIENT'S BANK ACCOUNTS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
20-FEB-2008
|
|
| 9 |
|
|
DAS CO.
(Sub-Broker of
VCK SHARE & STOCK BROKING SERVICES LTD.
, Member : NSE)
|
|
|
|
ATIN DAS
|
|
INVOLVED IN FRAUDULENT ACTIVITIES TO INDUCE INVESTORS TO INVEST MONEY
DEALT IN CASH WITH CLIENTS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES PERTAINING TO CLIENTS SECURITIES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
PROHIBITED FROM RAISING MONEY FROM PUBLIC FROM 20-FEB-2007 TILL FURTHER ORDERS
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 20-FEB-2007 TILL FURTHER ORDERS
DIRECTED TO REFUND ALL MONEYS COLLECTED FROM INVESTORS UNDER THE MIS SCHEME
20-FEB-2007
|
ENQUIRY PROCEEDINGS DISPOSED OFF WITHOUT IMPOSING ANY FURTHER PENALTY, AS SUB BROKER HAS ALREADY BEEN PROHIBITED FROM BUYING, SELLING OR DEALING IN SECURITIES FROM 20/02/2007
DIRECTIONS IMPOSED VIDE AD-INTERIM EX-PARTE ORDER DATED 20/02/2007 RESTRAINING FROM BUYING, SELLING OR DEALING IN SECURITIES MARKET IN ANY MANNER, DIRECTLY OR INDIRECTLY, VACATED
|
| 10 |
|
|
FORTUNE SHARE BROKERAGE PVT.LTD.
(Sub-Broker of
OTCEI SECURITIES LTD.
, Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 11 |
|
|
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
|
|
| 12 |
|
|
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
|
|
| 13 |
|
|
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
|
| 14 |
|
|
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
|
|
| 15 |
|
|
JAGDAMBAY SHARE BROKERS
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN EVASION OF MARGIN MONEY
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEALT IN CASH WITH CLIENTS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
25-JUN-2009
|
|
| 16 |
|
|
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
|
| 17 |
|
|
KHANDWALA SHAH & ASSOCIATES
(Sub-Broker of
PRAKASH K.SHAH SHARES & SECURITIES PVT.LTD.
, Member : BSE)
|
|
|
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
21-FEB-2008
|
|
| 18 |
|
|
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
|
|
| 19 |
|
|
MAGMA SECURITIES LTD.
(Sub-Broker of
OTCEI SECURITIES LTD.
, Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 20 |
|
|
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
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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