| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ADITYA & CO.
(Sub-Broker of BGSE FINANCIALS LTD., Member : NSE)
|
|
|
|
L.S.GURURAJ
|
|
INDULGED IN MATCHING TRANSACTION OF HIS OWN CLIENTS WITHOUT ROUTING THE TRADES THROUGH THE MEMBER
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT FURNISH REQUISITE INFORMATION DURING INVESTIGATION
DID NOT REDRESS INVESTOR COMPLAINTS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 09-JUL-2007 TO 23-JUL-2007
18-JUN-2007
|
|
| 2 |
|
|
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
|
|
| 3 |
|
|
AKSHAYA & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE)
|
|
|
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DEFICIENCIES IN CLIENT DATABASE
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
18-JAN-2007
|
|
| 4 |
|
|
APOORVA SECURITIES PVT.LTD.
(PAN:AACCA2937P)
(Sub-Broker of UPSE SECURITIES LTD., Member : BSE,Member : UPSE)
|
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DEFICIENCIES IN CLIENT DATABASE
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
INDULGED IN OFF-MARKET TRANSACTIONS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 28-NOV-2008 TO 27-JAN-2009
SUSPENDED REGISTRATION AS SUB-BROKER FROM 28-NOV-2008 TO 27-JAN-2009
07-NOV-2008
|
|
| 5 |
|
|
ATUL KANODIA & CO.
(Member : BSE,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
(Member : PSE,Sub-Broker of PSE SECURITIES LTD., Member : BSE/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
|
|
| 7 |
|
|
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
|
|
| 8 |
|
|
BALKRISHNA MAHESHWARI SHARE BROKERS PVT.LTD.
(Sub-Broker of MPSE SECURITIES LTD., Member : BSE,Member : MPSE)
|
|
|
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.1,50,000 VIDE CONSENT ORDER)
31-MAR-2010
|
|
| 9 |
|
|
BHAVESH R.MEHTA,M/S
(Member : SKSE,Sub-Broker of SKSE SECURITIES LTD., Member : BSE/NSE, SHREE NAVKAR INVESTMENTS, Member : NSE)
|
|
|
|
BHAVESH R.MEHTA
|
|
ALLEGED DISCREPANCIES IN MAINTENANCE OF CLIENT REGISTRATION FORMS & CLIENT AGREEMENT
ALLEGED FAILURE IN PROVIDING INFORMATION/COOPERATION WITH PROCEEDINGS
ALLEGED DEALING AS AN UNREGISTERED INTERMEDIARY ON F&O SEGMENT
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,00,000 VIDE CONSENT ORDER)
27-APR-2010
|
|
| 10 |
|
|
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
|
|
| 11 |
|
|
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
|
|
| 12 |
|
|
DREAMS CAPITAL PVT.LTD.
(Sub-Broker of PSE SECURITIES LTD., Member : NSE)
|
|
|
|
N.PRAKASH KUMAR
|
|
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.30,000
29-NOV-2004
|
|
| 13 |
|
|
FORTUNE SHARE BROKERAGE PVT.LTD.
(PAN:AAACF4070A)
(Sub-Broker of OTCEI SECURITIES LTD., Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 14 |
|
|
FREEDOM INVESTCO PVT.LTD.
(Sub-Broker of LSE SECURITIES LTD., Member : BSE/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
|
|
| 15 |
|
|
GEETA SHARE ENTERPRISES
(Member : UPSE,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 MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT REDRESS INVESTOR COMPLAINTS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 09-NOV-2004 TO 08-MAY-2005
SUSPENDED REGISTRATION AS STOCK BROKER FROM 09-NOV-2004 TO 08-MAY-2005
19-OCT-2004
|
|
| 16 |
|
|
HASMUKHRAI B.BALDEV,M/S
(Sub-Broker of SKSE SECURITIES LTD., Member : BSE)
|
|
|
|
HASMUKHRAI B.BALDEV
|
|
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEALT WITH UN-REGISTERED SUB-BROKERS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 31-JAN-2006 TO 28-FEB-2006
10-JAN-2006
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF SUSPENSION FROM ONE MONTH TO ONE WEEK
|
| 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 |
|
|
JASHNANI LEASING & FINANCE LTD.
(Sub-Broker of NETWORTH STOCK BROKING LTD., Member : BSE)
|
|
|
DID NOT ENTER INTO TRIPARTITE AGREEMENT WITH CLIENTS
|
CANCELLED REGISTRATION AS SUB-BROKER FROM 02-NOV-2009
12-OCT-2009
|
|
| 20 |
|
|
JHAVERI SECURITIES
(Sub-Broker of RAJESH JHAVERI STOCK BROKERS PVT.LTD., Member : ASE)
|
|
|
|
TUSHAR SHARADBHAI JHAVERI
PAN:AACPZ7287J
|
|
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
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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