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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
UPDATED TILL : 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.

COMPANIES: DIRECTED TO REFUND INVESTMENT MANAGEMENT AND ADVISORY FEES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person FRANKLIN TEMPLETON ASSET MANAGEMENT (INDIA) PVT.LTD.

(PAN:AAACT1609B)  
  COMITTED SERIOUS LAPSES/VIOLATION WITH REGARD TO SCHEME CATEGORIZATION (BY REPLICATING HIGH–RISK STRATEGY ACROSS SEVERAL SCHEMES), CALCULATION OF MACAULAY DURATION (TO PUSH LONG TERM PAPERS INTO SHORT DURATION SCHEMES), NON–EXERCISE OF EXIT OPTIONS IN THE FACE OF EMERGING LIQUIDITY CRISIS, SECURITIES VALUATION PRACTICES AND RISK MANAGEMENT PRACTICES AND INVESTMENT RELATED DUE DILIGENCE  PROHIBITED FROM LAUNCHING ANY NEW DEBT SCHEME(S)

DIRECTED TO REFUND INVESTMENT MANAGEMENT AND ADVISORY FEES

07-JUN-2021 		SAT: SAT VIDE ITS ORDER DATED 30/08/2021 GRANTED RESPONDENT TWO WEEKS FURTHER TIME TO FILE REPLIES IN THE REMAINING APPEALS AND REJOINDER MAY BE FILED WITHIN FOUR WEEKS THEREAFTER
2 
History of entity/person NIFTYMAKER.COM

(PAN:BAIPG5490H)  
History of entity/person ANKIT GUPTA

(PAN:BAIPG5490H)
  		ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION  DIRECTED TO REFUND INVESTMENT MANAGEMENT AND ADVISORY FEES

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO ACCEPT REFUND CLAIMS/REQUESTS FROM THE PUBLIC

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

DIRECTED NOT TO UNDERTAKE EITHER DIRECTLY OR INDIRECTLY INVESTMENT ADVISORY SERVICES AND/OR RESEARCH ANALYST ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS

27-NOV-2024
3 
History of entity/person SHIVAAY INVESTMENT

(PAN:BSKPG9592A)  
History of entity/person JAYARAJBHAI VALA

(PAN:AIZPV1760F)
History of entity/person JAYDEEPGIRI GOSWAMI

(PAN:BSKPG9592A)
History of entity/person KEVIN PRAVINBHAI BHATT

(PAN:BKIPB0010L)
History of entity/person RUPABEN KEVINBHAI BHATT

(PAN:BVBPB4487K)
  		ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

MADE FALSE DECLARATION ON WEBSITE ASSURING FOR GUARANTEED ALLOTMENT IN IPOS OF COMPANIES  		DIRECTED TO REFUND INVESTMENT MANAGEMENT AND ADVISORY FEES

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO ACCEPT REFUND CLAIMS/REQUESTS FROM THE PUBLIC

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 25-OCT-2023 TO 24-OCT-2025

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 25-OCT-2023 TO 24-OCT-2025

RESTRAINED FROM ASSOCIATED WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY AS DIRECTORS/PROMOTERS WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC AND/OR ANY INTERMEDIARY WITH SEBI FROM 25-OCT-2023 TO 24-OCT-2025

DIRECTED NOT TO UNDERTAKE EITHER DIRECTLY OR INDIRECTLY INVESTMENT ADVISORY SERVICES AND/OR RESEARCH ANALYST ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS

25-OCT-2023 		SEBI VIDE ITS NOTICE DATED 15/10/2024 DIRECTED TO PAY RS.6,79,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS NOTICE DATED 16/10/2024 DIRECTED TO PAY RS.2,17,40,098.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 07/11/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

SEBI VIDE ITS NOTICE DATED 24/12/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.2,21,24,861.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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