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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: RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person EVERMORE SHARE BROKING PVT.LTD.  

(Member : NSE)
  MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS

INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES

FUNDED CLIENTS HAVING DEBIT BALANCES BY PROVIDING FURTHER EXPOSURE

MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES

MADE INCORRECT REPORTING OF CLIENTS LEDGER BALANCE

DID NOT HAVE CYBER SECURITY AND CYBER RESILIENCE  		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 23-OCT-2024 TO 22-APR-2025

23-OCT-2024 		SAT: SAT VIDE ITS ORDER DATED 08/08/2024 CONDONED THE DELAY OF 27 DAYS IN FILING OF APPEAL. GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 10/10/2024 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 20/12/2024 STAYED IMPUGNED ORDER. ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER TO BE FILED WITHIN TWO WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 06/03/2025 GRANTED THREE WEEKS TO FILE REJOINDER
2 
History of entity/person FRR SHARES & SECURITIES LTD.

(PAN:AABCF5477E)  

(Member : NSE)
  MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

MIS UTILIZED CLIENTS FUNDS FOR PROPRIETARY TRADING

DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES

DID NOT MAINTAIN SEPARATE BANK ACCOUNT FOR KEEPING FUNDS OF INACTIVE CLIENTS

DID NOT SENT SMS TO CLIENTS ON SETTLEMENT

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES

DISCREPANCIES IN STOCK RECONCILIATION

DID NOT OBTAIN REGISTRATION FROM KYC REGISTRATION AGENCY (KRA) AND CENTRAL KNOW YOUR CUSTOMER (CKYC)

DID NOT UPDATE CLIENTS EMAIL IDS AND MOBILE NUMBERS

DISCREPANCIES IN CALCULATION OF NET WORTH

MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES

MADE INCORRECT REPORTING OF RISK-BASED SUPERVISION OF DATA TO STOCK EXCHANGES

DID NOT REPORT BANK ACCOUNT/DEMAT ACCOUNT

DID NOT UNDERTAKE TAGGING OF DP ACCOUNTS

TRANSFERRED SECURITIES OF CREDIT BALANCE CLIENTS TO CLIENT’S UNPAID SECURITIES ACCOUNT

ENGAGED IN BUSINESS OTHER THAN SECURITIES

PASSED PENALTY TO CLIENTS ON SHORT/NON-COLLECTION AND/OR REPORTING OF UPFRONT MARGINS

DID NOT HAVE CYBER SECURITY AND CYBER RESILIENCE

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME  		RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 29-OCT-2024 TO 28-NOV-2024

29-OCT-2024
3 
History of entity/person FRR SHARES & SECURITIES LTD.

(PAN:AABCF5477E)  

(Member : BSE)
  MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

MIS UTILIZED CLIENTS FUNDS FOR PROPRIETARY TRADING

DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES

DID NOT MAINTAIN SEPARATE BANK ACCOUNT FOR KEEPING FUNDS OF INACTIVE CLIENTS

DID NOT SENT SMS TO CLIENTS ON SETTLEMENT

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES

DISCREPANCIES IN STOCK RECONCILIATION

DID NOT OBTAIN REGISTRATION FROM KYC REGISTRATION AGENCY (KRA) AND CENTRAL KNOW YOUR CUSTOMER (CKYC)

DID NOT UPDATE CLIENTS EMAIL IDS AND MOBILE NUMBERS

DISCREPANCIES IN CALCULATION OF NET WORTH

MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES

MADE INCORRECT REPORTING OF RISK-BASED SUPERVISION OF DATA TO STOCK EXCHANGES

DID NOT REPORT BANK ACCOUNT/DEMAT ACCOUNT

DID NOT UNDERTAKE TAGGING OF DP ACCOUNTS

TRANSFERRED SECURITIES OF CREDIT BALANCE CLIENTS TO CLIENT’S UNPAID SECURITIES ACCOUNT

ENGAGED IN BUSINESS OTHER THAN SECURITIES

PASSED PENALTY TO CLIENTS ON SHORT/NON-COLLECTION AND/OR REPORTING OF UPFRONT MARGINS

DID NOT HAVE CYBER SECURITY AND CYBER RESILIENCE

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME  		RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 29-OCT-2024 TO 28-NOV-2024

29-OCT-2024
4 
History of entity/person IIFL SECURITIES LTD.  

(Member : MCX)
  DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS

DID NOT DESIGNATE CLIENT BANK ACCOUNTS AS “CLIENT ACCOUNT"  		RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 19-JUN-2023 TO 18-JUN-2025

19-JUN-2023 		SAT: SAT VIDE ITS ORDER DATED 07/12/2023 PARTLY ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 19/06/2023
5 
History of entity/person IIFL SECURITIES LTD.  

(Member : BSE)
  DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS

DID NOT DESIGNATE CLIENT BANK ACCOUNTS AS “CLIENT ACCOUNT"  		RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 19-JUN-2023 TO 18-JUN-2025

19-JUN-2023 		SAT: SAT VIDE ITS ORDER DATED 07/12/2023 PARTLY ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 19/06/2023
6 
History of entity/person IIFL SECURITIES LTD.  

(Member : NSE)
  DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS

DID NOT DESIGNATE CLIENT BANK ACCOUNTS AS “CLIENT ACCOUNT"  		RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 19-JUN-2023 TO 18-JUN-2025

19-JUN-2023 		SAT: SAT VIDE ITS ORDER DATED 07/12/2023 PARTLY ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 19/06/2023
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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