| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
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
|
|
| 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 |
|
|
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
|
| 4 |
|
|
ARIHANT INVESTMENT
(Sub-Broker of
ANAND RATHI SHARE & STOCK BROKERS LTD.
, Member : NSE)
|
|
|
|
BHADRESH SANGHVI
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DISPLAYED MISLEADING BOARD AND NOT DISPLAYED REGISTRATION CERTIFICATE VIOLATING NSE CIRCULAR NO.NSE/MEM/1591 DATED 20/04/2000
TRADED FOR HIMSELF THROUGH ANOTHER STOCK BROKER WITHOUT PRIOR PERMISSION OF NSE
OPERATED ON BSE TERMINAL WITHOUT AUTHORITY
|
CANCELLED REGISTRATION AS SUB-BROKER FROM 21-MAR-2013
28-FEB-2013
|
|
| 5 |
|
|
ATUL KANODIA & CO.
(Sub-Broker of
UPSE SECURITIES LTD.
, Member : BSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
COMMITTED IRREGULARITIES IN MAINTENANCE OF CONFIRMATION NOTES ISSUED TO CLIENTS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
|
IMPOSED PENALTY RS.40,000
11-MAY-2005
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.10,000 FROMTO RS.40,000
|
| 6 |
|
|
AVINASH TRIMBAKE,M/S
(Sub-Broker of
PSE SECURITIES LTD.
, Member : BSE)
|
|
|
|
AVINASH TRIMBAKE
|
|
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
IRREGULARITIES IN REGISTRATION OF CLIENTS
COMMITTED IRREGULARITIES IN MAINTENANCE OF CONFIRMATION NOTES ISSUED TO CLIENTS
DEALT IN CASH WITH CLIENTS
|
IMPOSED PENALTY RS.40,000
30-AUG-2005
|
|
| 7 |
|
|
AVINASH TRIMBAKE,M/S
(Sub-Broker of
PSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
AVINASH TRIMBAKE
|
|
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
IRREGULARITIES IN REGISTRATION OF CLIENTS
COMMITTED IRREGULARITIES IN MAINTENANCE OF CONFIRMATION NOTES ISSUED TO CLIENTS
DEALT IN CASH WITH CLIENTS
|
IMPOSED PENALTY RS.40,000
30-AUG-2005
|
|
| 8 |
|
|
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
|
|
| 9 |
|
|
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
|
|
| 10 |
|
|
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
|
|
| 11 |
|
|
DEVICHAND HANSRAJ OSWAL,M/S
(Sub-Broker of
PSE SECURITIES LTD.
, Member : NSE)
|
|
|
|
DEVICHAND HANSRAJ OSWAL
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
SEBI REGISTRATION NO., TRADE NO. AND ORDER NO. NOT INDICATED ON CONTRACT NOTES
DID NOT RECORD TIME OF EXECUTION OF ORDER ON CONTRACT NOTES
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 02-FEB-2006 TO 03-APR-2006
12-JAN-2006
|
SAT: IMPUGNED ORDER MODIFIED BY CONVERTING SUSPENSION OF 2 MONTHS INTO MONETARY PENALTY OF RS.50,000
SAT: SAT VIDE ITS ORDER DATED 02/05/2016 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
|
| 12 |
|
|
FALGUN FINVEST
(Sub-Broker of
VENTURA SECURITIES LTD.
, Member : BSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
ISSUED FICTITIOUS CONTRACT NOTES
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 15 READ WITH CLAUSES A(1&2) AND D(1,4&5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF FAST TRACK ENTERTAINMENT LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
23-NOV-2010
|
SEBI VIDE ITS NOTICE DATED 16/07/2014 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 13 |
|
|
FALGUN FINVEST
(Sub-Broker of
VENTURA SECURITIES LTD.
, Member : NSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
ISSUED FICTITIOUS CONTRACT NOTES
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 15 READ WITH CLAUSES A(1&2) AND D(1,4&5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF FAST TRACK ENTERTAINMENT LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
23-NOV-2010
|
|
| 14 |
|
|
FREEDOM INVESTCO PVT.LTD.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : BSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 08-OCT-2007 TO 14-OCT-2007
17-SEP-2007
|
|
| 15 |
|
|
FREEDOM INVESTCO PVT.LTD.
(Sub-Broker of
LSE SECURITIES LTD.
, Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 08-OCT-2007 TO 14-OCT-2007
17-SEP-2007
|
|
| 16 |
|
|
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
|
|
| 17 |
|
|
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
|
|
| 18 |
|
|
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
|
| 19 |
|
|
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
|
| 20 |
|
|
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
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
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