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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
PERIOD COVERED : 01-JAN-1997 TO 29-APR-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

STOCK BROKERS: ACTED BEYOND CLIENTS' MANDATE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person BHARAT J.PATEL,M/S  

(Member : BSE)
History of entity/person BHARAT JAYANTILAL PATEL
  		INDULGED IN MANIPULATION IN SCRIPS OF BPL, VIDEOCON AND STERLITE

DEALT FOR GROUP FOR WHICH DID NOT HAVE ANY PROFESSIONAL EXPERTISE IN THE SECURITIES MARKET AND FINANCIAL SOUNDNESS TO DEAL AT SUCH A LARGE SCALE

DID NOT COLLECT MARGINS FROM CLIENTS

ACTED IN CONCERT WITH OTHER BROKERS TO CORNER A VERY LARGE QUANTITY OF SHARES OF BPL, VIDEOCON AND STERLITE

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIPS OF BPL LTD., VIDEOCON INTERNATIONAL LTD. AND STERLITE INDUSTRIES LTD.

MADE PURCHASES WHICH WERE EXCESSIVE AND BEYOND CLIENT'S MEANS & FINANCIAL RESOURCES

PROVIDED FINANCE TO DAMAYANTI GROUP ENTITIES IN THE GARB OF SPOT PURCHASE OF SHARES THROUGH ONE OF ITS GROUP COMPANIES  		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-NOV-1998 TO 01-MAY-2000

31-JAN-2000
2 
History of entity/person DIGITAL LEASING & FINANCE LTD.  

(Member : NSE)
  INDULGED IN MANIPULATION IN SCRIPS OF BPL, VIDEOCON AND STERLITE

DEALT FOR GROUP FOR WHICH DID NOT HAVE ANY PROFESSIONAL EXPERTISE IN THE SECURITIES MARKET AND FINANCIAL SOUNDNESS TO DEAL AT SUCH A LARGE SCALE

DID NOT COLLECT MARGINS FROM CLIENTS

ACTED IN CONCERT WITH OTHER BROKERS TO CORNER A VERY LARGE QUANTITY OF SHARES OF BPL, VIDEOCON AND STERLITE

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIPS OF BPL LTD., VIDEOCON INTERNATIONAL LTD. AND STERLITE INDUSTRIES LTD.

MADE PURCHASES WHICH WERE EXCESSIVE AND BEYOND CLIENT'S MEANS & FINANCIAL RESOURCES

DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE  		SUSPENDED REGISTRATION AS STOCK BROKER FROM 10-JUN-1998 TO 09-JUN-2001

31-JAN-2000
3 
History of entity/person FIRST CUSTODIAN FUND (INDIA) LTD.,THE  

(Member : NSE)
History of entity/person MANISH BANTHIA
History of entity/person SURENDRA KUMAR BANTHIA
History of entity/person SUSHIL MANTRI
  		ACTED BEYOND MANDATE GIVEN BY CLIENTS

ENGAGED IN TRANSACTIONS OTHER THAN ARBITRAGE TRANSACTIONS

IRREGULARITIES IN REGISTRATION OF CLIENTS

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

ISSUED FICTITIOUS CONTRACT NOTES  		SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-JUL-2003 TO 13-JUL-2004

05-MAR-2004
4 
History of entity/person SHRIKANT G.MANTRI,M/S  

(Member : BSE)
History of entity/person SHRIKANT G.MANTRI
  		ACTED BEYOND MANDATE GIVEN BY NEDUNGADI BANK LTD.

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

ENGAGED IN TRANSACTIONS OTHER THAN ARBITRAGE TRANSACTIONS

ISSUED FICTITIOUS CONTRACT NOTES  		SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-JUL-2003 TO 13-JUL-2004

05-MAR-2004
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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