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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: FLOATED BOGUS/FRAUDULENT ENTITIES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person H.NYALCHAND FINANCIAL SERVICES LTD.  

(Member : ASE)
History of entity/person DHIRENBHAI H.VORA
History of entity/person SAUMIL A.SHAH
History of entity/person UDAY H.VORA
  		INDULGED IN CIRCULAR TRADING

CREATED ARTIFICIAL MARKET

INDULGED IN SYNCHRONIZED DEALS

EXECUTED FICTITIOUS TRANSACTIONS

INFLUENCED PRICES OF SEVERAL COMPANIES

POSSIBILITY OF INSIDER TRADING IN VIEW OF PRICE SENSITIVE INFORMATION BEING MADE AVAILABLE TO IT AS A RESULT OF ITS ASSOCIATION WITH THE COMPANIES

INVOLVED IN FLOATING BOGUS ENTITIES  		DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 29-JAN-2004 TILL FURTHER ORDER

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-JAN-2004 TILL FURTHER ORDER

29-JAN-2004
2 
History of entity/person H.NYALCHAND FINANCIAL SERVICES LTD.  

(Member : NSE)
History of entity/person DHIRENBHAI H.VORA
History of entity/person SAUMIL A.SHAH
History of entity/person UDAY H.VORA
  		INDULGED IN CIRCULAR TRADING

CREATED ARTIFICIAL MARKET

INDULGED IN SYNCHRONIZED DEALS

EXECUTED FICTITIOUS TRANSACTIONS

INFLUENCED PRICES OF SEVERAL COMPANIES

POSSIBILITY OF INSIDER TRADING IN VIEW OF PRICE SENSITIVE INFORMATION BEING MADE AVAILABLE TO IT AS A RESULT OF ITS ASSOCIATION WITH THE COMPANIES

INVOLVED IN FLOATING BOGUS ENTITIES  		DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 29-JAN-2004 TILL FURTHER ORDER

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-JAN-2004 TILL FURTHER ORDER

29-JAN-2004
3 
History of entity/person PARK LIGHT INVESTMENT PVT.LTD.  

(Member : BSE)
History of entity/person HASMUKHLAL N.VORA
History of entity/person UDAY H.VORA
  		INDULGED IN CIRCULAR TRADING

CREATED ARTIFICIAL MARKET

INDULGED IN SYNCHRONIZED DEALS

EXECUTED FICTITIOUS TRANSACTIONS

INFLUENCED PRICE OF SCRIPS

POSSIBILITY OF INSIDER TRADING IN VIEW OF PRICE SENSITIVE INFORMATION BEING MADE AVAILABLE TO IT AS A RESULT OF ITS ASSOCIATION WITH THE COMPANIES

INVOLVED IN FLOATING BOGUS ENTITIES  		DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 29-JAN-2004 TILL FURTHER ORDER

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-JAN-2004 TILL FURTHER ORDER

29-JAN-2004
4 
History of entity/person PARKLIGHT SECURITIES LTD.  

(Member : ASE)
History of entity/person HITESHBHAI RAVINDRABHAI BHATT
History of entity/person RUPESHBHAI DEVENDRABHAI SHAH
  		INDULGED IN CIRCULAR TRADING

CREATED ARTIFICIAL MARKET

INDULGED IN SYNCHRONIZED DEALS

EXECUTED FICTITIOUS TRANSACTIONS

INFLUENCED PRICES OF SEVERAL COMPANIES

POSSIBILITY OF INSIDER TRADING IN VIEW OF PRICE SENSITIVE INFORMATION BEING MADE AVAILABLE TO IT AS A RESULT OF ITS ASSOCIATION WITH THE COMPANIES

INVOLVED IN FLOATING BOGUS ENTITIES  		DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 29-JAN-2004 TILL FURTHER ORDER

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-JAN-2004 TILL FURTHER ORDER

29-JAN-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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