| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
AADYA STOCKS PVT.LTD.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT FURNISH AUDITOR'S CERTIFICATE ON QUARTERLY BASIS REGARDING COLLECTION OF MINIMUM MARGIN FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEFAULTED IN MEETING PAY-IN-OBLIGATION AND MARGIN TO STOCK EXCHANGE
DID NOT TRANSFER DIVIDEND TO CLIENTS ACCOUNT
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 02-FEB-2006 TO 01-JUN-2006
13-JAN-2006
|
|
| 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 |
|
|
AKRITI SECURITIES PVT.LTD.
(Sub-Broker of UPSE SECURITIES LTD., Member : BSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
CARRIED OUT TRANSACTION IN ITS OWN NAME INSTEAD OF CLIENTS NAME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 29-NOV-2006 TO 13-DEC-2006
08-NOV-2006
|
|
| 4 |
|
|
AVDHUT SECURITIES LTD.
|
|
|
FAILED TO DELIVER SHARES TO CLIENTS
|
IMPOSED PENALTY RS.35,000
29-NOV-2004
|
|
| 5 |
|
|
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
|
|
| 6 |
|
|
DAS CO.
(Sub-Broker of VCK SHARE & STOCK BROKING SERVICES LTD., Member : NSE)
|
|
|
|
ATIN DAS
|
|
|
BANI DAS
|
|
|
BIVA RANI DAS
|
|
|
SUDHIR RANJAN DAS
|
|
INVOLVED IN FRAUDULENT ACTIVITIES TO INDUCE INVESTORS TO INVEST MONEY
DEALT IN CASH WITH CLIENTS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES PERTAINING TO CLIENTS SECURITIES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
PROHIBITED FROM RAISING MONEY FROM PUBLIC FROM 20-FEB-2007 TILL FURTHER ORDERS
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 20-FEB-2007 TILL FURTHER ORDERS
DIRECTED TO REFUND ALL MONEYS COLLECTED FROM INVESTORS UNDER THE MIS SCHEME
20-FEB-2007
|
ENQUIRY PROCEEDINGS DISPOSED OFF WITHOUT IMPOSING ANY FURTHER PENALTY, AS SUB BROKER HAS ALREADY BEEN PROHIBITED FROM BUYING, SELLING OR DEALING IN SECURITIES FROM 20/02/2007
DIRECTIONS IMPOSED VIDE AD-INTERIM EX-PARTE ORDER DATED 20/02/2007 RESTRAINING FROM BUYING, SELLING OR DEALING IN SECURITIES MARKET IN ANY MANNER, DIRECTLY OR INDIRECTLY, VACATED
|
| 7 |
|
|
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
|
|
| 8 |
|
|
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
|
|
| 9 |
|
|
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
|
| 10 |
|
|
KATTIKAREN & CO.
(Sub-Broker of COCHIN STOCK BROKERS LTD., Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
IRREGULARITIES BY SMIFS SECURITIES LTD. IN ISSUANCE OF CONTRACT NOTES, NON-SEGREGATION OF CLIENT/OWN FUNDS ETC.
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
04-DEC-2006
|
|
| 11 |
|
|
KOTHARI INVESTMENT & STOCK BROKING SERVICES
(Sub-Broker of ISE SECURITIES & SERVICES LTD., Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
IMPOSED PENALTY RS.20,000
30-JAN-2006
|
|
| 12 |
|
|
LIBERTY STOCKLINKS PVT.LTD.
(Sub-Broker of RENAISSANCE SECURITIES LTD., Member : BSE)
|
|
|
|
SUNIL SHARMA
|
|
|
VIKAS MEHTA
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
FAILED TO DELIVER SHARES TO CLIENTS
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT EXERCISE DUE CARE AND DILIGENCE IN EXECUTING SUB-BROKING ACTIVITIES
DID NOT REDRESS INVESTOR COMPLAINTS
|
IMPOSED PENALTY RS.4,00,000
20-NOV-2008
|
SAT: APPEAL DISMISSED AS WITHDRAWN WITH NO ORDER AS TO COSTS
INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 13 |
|
|
MANI & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE,Member : MDSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEFAULTED IN PAY-IN OBLIGATIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
02-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.25,000 FROM RS.1,00,000
|
| 14 |
|
|
MANSUKHLAL JAGABHAI TANTI,M/S
(Sub-Broker of SKSE SECURITIES LTD., Member : BSE)
|
|
|
|
MANSUKHLAL JAGABHAI TANTI
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT OPEN SEPARATE CLIENT'S BANK ACCOUNTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
DEALT IN CASH WITH CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 15 |
|
|
MITHANI SECURITIES PVT.LTD.
(Sub-Broker of SKSE SECURITIES LTD., Member : BSE)
|
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MAINTAINED RUNNING ACCOUNTS OF CLIENTS FOR A CONSIDERABLE PERIOD OF TIME WITHOUT ANY RECEIPTS/PAYMENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
PAID BROKERAGE TO CLIENTS AND VIOLATED CODE OF CONDUCT OF STOCK BROKER REGULATIONS
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 15-FEB-2006 TO 14-MAY-2006
25-JAN-2006
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF SUSPENSION FROM 3 MONTHS TO 2 WEEKS
|
| 16 |
|
|
RAJ INVESTMENTS
(Sub-Broker of PSE SECURITIES LTD., Member : NSE)
|
|
|
|
RAJESH B.SHAH
|
|
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.40,000 ALONG WITH OTHER ENTITIES/PERSONS
10-DEC-2004
|
|
| 17 |
|
|
RAJENDRA R.MEHTA,M/S
(Sub-Broker of SKSE SECURITIES LTD., Member : BSE)
|
|
|
|
RAJENDRA R.MEHTA
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT OPEN SEPARATE CLIENT'S BANK ACCOUNTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
PAID BROKERAGE TO CLIENTS AND VIOLATED CODE OF CONDUCT OF STOCK BROKER REGULATIONS
GAVE SHORT TERM LOANS TO SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
30-DEC-2005
|
|
| 18 |
|
|
RAMAN RAM NIWAS,M/S
(Sub-Broker of JSEL SECURITIES LTD., Member : BSE)
|
|
|
|
RAMAN ROONGTA
|
|
DEFAULTED IN MAINTENANCE OF ORDER CONFIRMATION SLIP
DID NOT MAINTAIN SEGREGATION BETWEEN SUB-BROKER FUNDS AND OWN FUNDS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
DEALT IN CASH WITH CLIENTS
COMMITTED IRREGULARITIES PERTAINING TO CLIENTS SECURITIES
DEFICIENCIES IN REGISTRATION FORMS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT FILE REQUISITE AUDITOR'S CERTIFICATE IN PRESCRIBED FORMAT TO SEBI AND TO STOCK EXCHANGE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DID NOT EXERCISE DUE CARE AND DILIGENCE
|
IMPOSED PENALTY RS.5,00,000
14-SEP-2007
SETTLEMENT ( SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
25-AUG-2008~
|
SAT: AGREED TO PAY RS.1,00,000 AS PER CONSENT ORDER HENCE APPLIED TO RECTIFY THE ORDER. APPEAL ACCEPTED
|
| 19 |
|
|
S.R.AGARWAL & CO.
(Sub-Broker of VSE SECURITIES LTD., Member : BSE)
|
|
|
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
DEALT IN CASH WITH CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
DEALT WITH UNREGISTERED ENTITIES
|
SUSPENDED REGISTRATION AS SUB-BROKER FROM 07-FEB-2006 TO 06-AUG-2006
17-JAN-2006
|
|
| 20 |
|
|
SUBHASH GANGWAL,M/S
(Sub-Broker of JSEL SECURITIES LTD., Member : BSE)
|
|
|
|
SUBHASH GANGWAL
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DEFICIENCIES IN CLIENT DATABASE
DID NOT EXERCISE DUE SKILL AND DILIGENCE
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
IMPOSED PENALTY RS.40,000
03-NOV-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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