| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
DID NOT MAKE DISCLOSURE OF REFERENCE TO WEB LINK TO ENABLE INVESTORS TO MONITOR POST ISSUE PERFORMANCE OF THE ISSUES HANDLED FOR A PERIOD OF THREE YEARS FROM THE DATE OF LISTING IN PROSPECTUS OF AMRAPALI CAPITAL & FINANCE SERVICES LTD.
DID NOT MAKE DISCLOSURE OF COMPLETE AND ADEQUATE INFORMATION TO INVESTORS TO ARRIVE AT A FAIR JUDGEMENT TO INVEST IN THE ISSUE OF ACE TOURS WORLDWIDE LTD. VIOLATING CLAUSE 4, 6 & 7 OF SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
DID NOT MAKE DISCLOSURE OF COMPLETE AND ADEQUATE INFORMATION TO INVESTORS TO ARRIVE AT A FAIR JUDGEMENT TO INVEST IN THE ISSUE OF ACE TOURS WORLDWIDE LTD. VIOLATING REGULATION 57(1) OF SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009
|
IMPOSED PENALTY RS.15,00,000
22-FEB-2017
|
SAT: SAT VIDE ITS ORDER DATED 29/03/2019 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 22/02/2017. NO COSTS
|
| 22 |
|
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
DID NOT MAINTAIN NECESSARY INFRASTRUCTURE TO CARRY OUT MERCHANT BANKING ACTIVITIES
DID NOT PAY RENEWAL FEES
DID NOT INTIMATE CHANGE IN ADDRESS AND CONTACT DETAILS TO SEBI
DID NOT SUBMIT HALF YEARLY REPORTS TO SEBI
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 21-MAR-2025
21-MAR-2025
|
|
| 23 |
|
|
DMI CAPITAL PVT.LTD.
(CIN:U67120DL2013PTC252176
PAN:AAECD6486C)
|
|
|
DID NOT MAKE DISCLOSURE OF TRACK RECORD ON ITS WEBSITE
DID NOT PUBLISH INVESTOR CHARTER AND INFORMATION ON INVESTOR COMPLAINTS ON WEBSITE
DID NOT INTIMATE CHANGE IN ADDRESS AND CONTACT DETAILS TO SEBI
DELAY IN INTIMATION OF CHANGE IN COMPLIANCE OFFICER
DID NOT INTIMATE APPOINTMENT OF COMPLIANCE OFFICER
DID NOT ADHERE TO SEBI MERCHANT BANKERS REGULATIONS, 1992 AND CIRCULAR ISSUED IN RELATION THERETO
|
IMPOSED PENALTY RS.2,00,000
18-MAR-2026
|
|
| 24 |
|
|
DSP MERRILL LYNCH LTD.
(PAN:AAACD0535G)
|
|
|
ALLEGED INDULGENCE IN SEBI (MERCHANT BANKER) REGULATIONS, 1992
ALLEGED VIOLATION OF VARIOUS PROVISIONS OF SEBI (DISCLOSURE & INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.30,50,000 VIDE CONSENT ORDER)
12-JAN-2010
|
|
| 25 |
|
|
DSP MERRILL LYNCH LTD.
(PAN:AAACD0535G)
|
|
|
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATING CLAUSE 1 OF FORM C OF SCHEDULE VI OF REGULATIONS 8(2)(B), 57(1), 57(2)(A)(II) AND 64(1) OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATIING CLAUSES 1, 4, 6, 7 AND 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
|
IMPOSED PENALTY RS.1,00,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-NOV-2014
|
SAT: SAT VIDE ITS ORDER DATED 04/10/2016 MODIFIED ITS EARLIER ORDER DATED 30/09/2016 AS “PER MAJORITY: AS PER MAJORITY DECISION, THE APPEAL IS ALLOWED AND THE IMPUGNED ORDER IS SET ASIDE WITH NO ORDER AS TO COSTS. “PER MINORITY: AS PER MINORITY DECISION, THE APPEAL IS DISMISSED AND THE IMPUGNED ORDER IS UPHELD WITH NO OTDER AS TO COTS.”
|
| 26 |
|
|
EDELWEISS CAPITAL LTD.
|
|
|
ALLEGED INDULGENCE IN VIOLATION OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE WHILE CONDUCTING BUSINESS AS A MERCHANT BANKER I.E.DID NOT ADOPT INDEPENDENT PROFESSIONAL JUDGEMENTS IN VERIFYING RECORDS/VISITING PLACES OF ISSUER COMPANIES, DID NOT PROVIDE CORRECT INFORMATION AND/OR PROVIDE MISLEADING INFORMATION IN DRHP, DID NOT ENSURE ADEQUATE DISCLOSURES IN DRHP, DID NOT SUPERVISE ACTIVITIES OF SUB-SYNDICATE MEMBER, DID NOT FOLLOW PROPERLY DUE DILIGENCE IN RESPECT OF POST ISSUE ACTIVITIES OF SEVERAL ISSUER COMPANIES, DID NOT SUPERVISE ACTIVITIES OF BANKERS AND REGISTRAR TO ISSUE ETC.
ALLEGED FAILURE IN ADHERING TO SEBI DIRECTIVES IN MATTER OF PUBLIC OFFER/ANNOUNCEMENT AS SPECIFIED UNDER SEBI TAKEOVER CODE, 1997
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
11-MAY-2011
|
|
| 27 |
|
|
EDELWEISS FINANCIAL SERVICES LTD.
(PAN:AAACE1461E)
|
|
|
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATING CLAUSE 1 OF FORM C OF SCHEDULE VI OF REGULATIONS 8(2)(B), 57(1), 57(2)(A)(II) AND 64(1) OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATIING CLAUSES 1, 4, 6, 7 AND 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
|
IMPOSED PENALTY RS.1,00,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-NOV-2014
|
SAT: SAT VIDE ITS ORDER DATED 04/10/2016 MODIFIED ITS EARLIER ORDER DATED 30/09/2016 AS “PER MAJORITY: AS PER MAJORITY DECISION, THE APPEAL IS ALLOWED AND THE IMPUGNED ORDER IS SET ASIDE WITH NO ORDER AS TO COSTS. “PER MINORITY: AS PER MINORITY DECISION, THE APPEAL IS DISMISSED AND THE IMPUGNED ORDER IS UPHELD WITH NO OTDER AS TO COTS.”
|
| 28 |
|
|
EXPERT GLOBAL CONSULTANTS PVT.LTD.
(PAN:AABCF5715E)
|
|
|
DID NOT EXERCISE PROPER DUE DILIGENCE WHILE SUBMITTING CAPITAL BUILD-UP OF PROMOTER AND PROMOTER GROUP
MADE MISLEADING DISCLOSURES/STATEMENT ON WEBSITE
DID NOT DISPLAY INVESTOR CHARTER ON ITS WEBSITE
DID NOT HAVE VALID NCFM/NISM CERTIFICATE
DID NOT INTIMATE CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL TO SEBI
DELAY IN FILING OF PERIODIC REPORTS TO SEBI
DID NOT ADOPT CODE OF CONDUCT, MAINTENANCE OF STRUCTURAL DIGITAL DATABASE (SDD) AND DESIGNATING ANY COMPLIANCE OFFICER TO MONITOR COMPLIANCES AS REQUIRED UNDER SEBI (PIT) REGULATIONS, 2015
|
PROHIBITED FROM TAKING ANY NEW ASSIGNMENT I.E.NEW CLIENTS AS A MERCHANT BANKER FROM 25-APR-2025 TO 24-OCT-2025
25-APR-2025
|
|
| 29 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
INDULGED IN DIVERSION/SIPHONING OFF FUNDS OF IPO PROCEEDS OF TREKKINGTOES.COM VIOLATING REGULATIONS 27(2) AND (5) OF SEBI TAKEOVER REGULATIONS AND CODE OF CONDUCT SPECIFIED UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 24-JAN-2022
24-JAN-2022
|
SEBI VIDE ITS ORDER DATED 30/01/2023 REVOKED THE DIRECTIONS ISSUED VIDE EX-PARTE AD INTERIM ORDER CUM SHOW CAUSE NOTICE DATED 24/01/2022 AND DISPOSED OF SCN WITHOUT ANY FURTHER DIRECTIONS
|
| 30 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
DID NOT OBTAIN ANY DOCUMENTS/ OR CARRIED OUT NECESSARY DUE DILIGENCE TO VERIFY QUALIFICATIONS AND EXPERIENCE OF DIRECTORS IN MATTER OF IPO OF TREKKINGTOES.COM LTD.
COMMITTED IRREGULARITIES WITH RESPECT TO TAKEOVER THROUGH OPEN OFFER IN MATTER OF KD LEISURE LTD., AKM LACE & EMBROTEX LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD. AND ORACLE CREDIT LTD.
DID NOT FILE DRAFT LETTER OF OFFER WITHIN FIVE DAYS FROM DATE OF DETAILED PUBLIC STATEMENT IN MATTER OF KD LEISURE LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD.
DELAY IN MAKING PUBLIC ANNOUNCEMENT ON DATE OF AGREEING TO ACQUIRE SHARES OR VOTING RIGHTS IN MATTER OF AKM LACE & EMBROTEX LTD., ORACLE CREDIT LTD.
DID NOT TENDER SHARES IN OPEN OFFER DURING TENDER PERIOD AND THE REMAINING AMOUNT WAS WITHDRAWN AND PAID TO ACQUIRER, WHICH WAS LESS THAN 30 DAYS FROM THE CLOSURE OF TENDER PERIOD IN MATTER OF AKM LACE & EMBROTEX LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD.
DID NOT MAKE DISCLOSURE OF SALIENT FEATURES OF SHARE PURCHASE AGREEMENT AND SHARE SUBSCRIPTION AGREEMENT IN THE LETTER OF OFFER
DID NOT MAKE DISCLOSURE OF NET WORTH, FINANCIALS OF PERSONS ACTING IN CONCERT, THEIR DIRECTORSHIPS IN COMPANIES AND CONTINGENT LIABILITIES
DISCREPANCIES IN PERIODIC REPORTS
DID NOT MAKE DISCLOSURE OF TRACK RECORD ON ITS WEBSITE
DELAY IN DISPLAYING OF TRACK RECORD ON ITS WEBSITE
COMMITTED IRREGULARITIES WITH RESPECT TO INTERNAL CODE OF CONDUCT
DID NOT HAVE MINUTES OF BOARD MEETING MAINTAIN FOR APPROVAL OF CODE OF CONDUCT AND ETHICS
COMMITTED IRREGULARITIES W.R.T. MERCHANT BANKER CERTIFICATION
|
IMPOSED PENALTY RS.6,00,000
10-DEC-2025
|
|
| 31 |
|
|
FINSHORE MANAGEMENT SERVICES LTD.
(PAN:AABCF8557F)
|
|
|
DID NOT UNDERTAKE DUE DILIGENCE WITH RESPECT TO VERACITY AND ADEQUACY OF DISCLOSURES IN THE OFFER DOCUMENT/PROSPECTUS VIOLATING REGULATION 245(3) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF PRESSTONIC ENGINEERING LTD.
DID NOT UNDERTAKE DUE DILIGENCE WITH RESPECT TO VERACITY AND ADEQUACY OF DISCLOSURES IN THE OFFER DOCUMENT/PROSPECTUS VIOLATING REGULATION 13 READ WITH CLAUSE 4 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF PRESSTONIC ENGINEERING LTD.
|
IMPOSED PENALTY RS.2,00,000
19-MAY-2025
|
|
| 32 |
|
|
FINSHORE MANAGEMENT SERVICES LTD.
(PAN:AABCF8557F)
|
|
|
DID NOT ADHERE TO SEBI OBSERVATION LETTER DATED 11/01/2022 WITH RESPECT TO OPEN OFFER OF MEHAI TECHNOLOGY LTD. VIOLATING REGULATIONS 16(4) AND 27(5) OF SAST REGULATIONS, 2011
DID NOT ADHERE TO SEBI OBSERVATION LETTER DATED 11/01/2022 WITH RESPECT TO OPEN OFFER OF MEHAI TECHNOLOGY LTD. VIOLATING CLAUSES 6 AND 7 OF CODE OF CONDUCT UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT CLASSIFY TWO ENTITIES UNDER PROMOTER GROUP OF THE ISSUER, INDONG TEA CO.LTD. VIOLATING CLAUSES 4 AND 6 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT CLASSIFY TWO ENTITIES UNDER PROMOTER GROUP OF THE ISSUER, INDONG TEA CO.LTD. VIOLATING REGULATION 245(3) READ WITH SCHEDULE VI OF SEBI (ICDR) REGULATIONS, 2018
DID NOT UPLOAD INVESTOR CHARTER ON ITS WEBSITE
DID NOT CREATE AND UTILISE DEDICATED EMAIL ID FOR INVESTOR GRIEVANCES
USED PERSON-CENTRIC EMAIL IDS INSTEAD OF GENERAL EMAIL IDS FOR REGULATORY COMMUNICATIONS
DID NOT MAINTAIN LIST OF DESIGNATED PERSONS, STRUCTURED DIGITAL DATABASE AND DEFICIENCIES IN THE INTERNAL CONTROLS PUT IN PLACE BY MERCHANT BANKER VIOLATING REGULATIONS 3, 9, 9A AND SCHEDULE C OF SEBI (PIT) REGULATIONS, 2015
DID NOT MAKE DISCLOSURE OF INFORMATION IN REPLY TO PIQ WITH RESPECT TO ADMINISTRATIVE WARNINGS AND DEFICIENCY LETTERS PREVIOUSLY ISSUED BY SEBI
|
IMPOSED PENALTY RS.5,00,000
30-MAY-2024
|
|
| 33 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
DID NOT MAKE DISCLOSURE OF FINANCIALS AND LITIGATIONS OF SVC RESOURCES LTD. AND SANTOWIN CORP.LTD. IN FINAL PROSPECTUS OF POWERHOUSE FITNESS & REALTY LTD. VIOLATING PROVISIONS OF REGULATION 57(2) READ WITH CLAUSE 2(X)(A) AND 2(IX) OF PART A OF SCHEDULE VIII AND REGULATION 64 OF SEBI ICDR REGULATIONS, 2009
DID NOT MAKE DISCLOSURE OF ISSUING SECURITIES AT PRICE LOWER THAN ISSUING PRICE IN IPO OF POWERHOUSE FITNESS & REALTY LTD. VIOLATING PROVISIONS OF REGULATION 57(2) READ WITH CLAUSE 2(VI) (D) 2(F) OF PART A OF SCHEDULE VIII AND REGULATION 64 (1) OF SEBI ICDR REGULATIONS, 2009
DID NOT ENSURE THAT ADEQUATE DISCLOSURES WERE MADE IN TIMELY MANNER VIOLATING REGULATION 64(1) OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF POWERHOUSE FITNESS & REALTY LTD.
DID NOT EXERCISE DUE DILIGENCE VIOLATING REGULATION 106 O(2) OF SEBI (ICDR) REGULATIONS, 2009 AND CLAUSES 1, 4, 6, 7 AND 21 OF CODE OF CONDUCT SPECIFIED IN SCHEDULE III OF MERCHANT BANKERS REGULATIONS, 1992 IN MATTER OF POWERHOUSE FITNESS & REALTY LTD.
|
IMPOSED PENALTY RS.5,00,000
24-DEC-2019
|
SAT: SAT VIDE ITS ORDER DATED 08/09/2021 DISMISSED THE APPEAL FOR WANT FOR PROSECUTION
SEBI VIDE ITS NOTICE DATED 24/07/2023 DIRECTED TO PAY RS.7,21,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 11/08/2023 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.6951 OF 2023 DATED 24/07/2023
|
| 34 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
DID NOT SUBMIT HALF YEARLY REPORTS VIOLATING SEBI CIRCULAR CIR/MIRSD/6/2012 DATED 14/05/2012 AND SEBI CIRCULAR SEBI/HO/MIRSD/MIRSD1/CIR/P/2017/38 DATED 02/05/2017
DID NOT UNDERTAKE INDEPENDENT DUE DILIGENCE WITH REGARD TO VERIFICATION OF BACKGROUND OF DIRECTORS AND PROMOTERS AS TO WHETHER ANY OF THEM ARE WILLFUL DEFAULTERS, FUGITIVE ECONOMIC OFFENDERS OR DEBARRED BY SEBI AND VERIFICATION OF PHYSICAL EXISTENCE OF ISSUER COMPANY/ SITE FOR THREE COMPANIES, BASED ON DOCUMENTS AVAILABLE ON RECORD VIOLATING REGULATION 245(3) OF SEBI (ICDR) REGULATIONS, 2018
DID NOT UNDERTAKE INDEPENDENT DUE DILIGENCE WITH REGARD TO VERIFICATION OF BACKGROUND OF DIRECTORS AND PROMOTERS AS TO WHETHER ANY OF THEM ARE WILLFUL DEFAULTERS, FUGITIVE ECONOMIC OFFENDERS OR DEBARRED BY SEBI AND VERIFICATION OF PHYSICAL EXISTENCE OF ISSUER COMPANY/ SITE FOR THREE COMPANIES, BASED ON DOCUMENTS AVAILABLE ON RECORD VIOLATING CLAUSE 4 OF SCHEDULE III (CODE OF CONDUCT) READ WITH REGULATIONS 13 AND 14(1)(E) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
PRESENTED WRONG INDIVIDUAL AS THE COMPLIANCE OFFICER DURING INSPECTION VIOLATING REGULATION 13 READ WITH CLAUSE 20 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
MISREPRESENTED STATUS OF APPEAL NO.583/2020 BEFORE HON’BLE SAT AND OMITTED TO MENTION THE ADMINISTRATIVE WARNING ISSUED TO IN 2017 DURING INSPECTION VIOLATING REGULATION 13 READ WITH CLAUSES 20 AND 22 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS 1992
DID NOT DISCLOSE HANDLING OF OPEN OFFER OF ELITECON INTERNATIONAL LTD. IN FY 2021-22 DURING INSPECTION VIOLATING REGULATION 13 READ WITH CLAUSE 20 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT SUBMIT QUARTERLY REPORTS TO SEBI VIOLATING REGULATION 27 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.10,00,000
27-FEB-2025
|
SAT: SAT VIDE ITS ORDER DATED 19/12/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER IF ANY BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
|
| 35 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
|
RUSHABH SHROFF
PAN:ATZPS8741C
|
|
|
SATISH VADILAL SHETH
PAN:AAQPS3939Q
|
|
PUBLISHED MISLEADING INFORMATION IN RELATION TO SME IPO AND INDUCED INVESTORS TO SALE AND PURCHASE SECURITIES VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) READ WITH 2(1)(C) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF VEERKRUPA JEWELERS LTD.
DID NOT EXERCISE DUE DILIGENCE AND ENSURE ACCURATE DISCLOSURES IN IPO DOCUMENTS VIOLATING CLAUSE 1(A) OF SCHEDULE IX READ WITH REGULATION 263 OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF VEERKRUPA JEWELERS LTD.
DID NOT EXERCISE DUE DILIGENCE AND ENSURE ACCURATE DISCLOSURES IN IPO DOCUMENTS VIOLATING CLAUSES 4 AND 6 OF SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF VEERKRUPA JEWELERS LTD.
|
RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 23-OCT-2027 TO 22-OCT-2032
RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 23-OCT-2027 TO 22-OCT-2032
ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS
IMPOSED PENALTY RS.30,00,000
29-MAY-2026
|
SAT: SAT VIDE ITS ORDER DATED 24/06/2026 GRANTED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. STAYED DEBARMENT AND RECOVERY PROCEEDINGS, SUBJECT TO DEPOSIT 50% OF PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 20/07/2026 CONDONED THE DELAY OF 6 DAYS IN FILING OF APPEAL. ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER IF ANY, BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT
|
| 36 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
ENGAGED IN BUSINESS OTHER THAN SECURITIES
DID NOT POSSESS ADEQUATE FINANCIAL RESOURCES ON ACCOUNT OF LOWER NET WORTH TO ACQUIRE SECURITIES IN RESPECT OF UNDERWRITING OBLIGATIONS
DEFAULTED IN SUBMISSION OF QUARTERLY REPORTS TO SEBI
DELAY IN FILING OF HALF YEARLY REPORTS
DID NOT MAKE DISCLOSURE OF TYPE OF ISSUE (IPO/ FPO), SUBSCRIPTION LEVEL, DETAILS OF QIB HOLDING, FINANCIALS OF ISSUER, TRADING STATUS IN SCRIP OF ISSUER, CHANGE IN DIRECTORS, STATUS OF UTILIZATION OF ISSUE PROCEEDS, PRICE-RELATED DATA, BASIS FOR ISSUE PRICE, ETC ON ITS WEBSITE
KEY MANAGEMENT PERSONNEL DID NOT OBTAIN SERIES III-A AND NISM IX CERTIFICATIONS
|
DEBARRED FROM TAKING ANY NEW MANDATE IN RELATION TO BUSINESS OF ISSUE MANAGEMENT EITHER BY MAKING ARRANGEMENTS REGARDING SELLING, BUYING OR SUBSCRIBING TO SECURITIES OR ACTING AS MANAGER, CONSULTANT, ADVISER OR RENDERING CORPORATE ADVISORY SERVICE IN RELATION TO SUCH ISSUE MANAGEMENT FROM 03-OCT-2025 TO 02-DEC-2025
SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 03-OCT-2025 TO 02-DEC-2025
23-OCT-2024
|
SAT: SAT VIDE ITS ORDER DATED 11/12/2024 PARTLY ALLOWED THE APPEAL AND STAYED THE DIRECTION IN PARA NO.96 TO DEBAR FROM TAKING NEW MANDATE SUBJECT TO APPELLANT BRINGING IN RS.3 CRORE WITHIN FIFTEEN DAYS FROM DATE OF THIS ORDER AND ENSURE MAINTAIN NET-WORTH CAPITAL ADEQUACY OF RS.5 CRORE. DIRECTED TO FILE REPLY WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SEBI VIDE ITS ORDER DATED 03/10/2025 SUSPENDED THE CERTIFICATE OF REGISTRATION FOR TWO MONTH FROM DATE OF THIS ORDER
|
| 37 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
DID NOT EXERCISE DUE DILIGENCE AND PROPER CARE IN PREPARATION OF PROSPECTUS VIOLATING CLAUSES 2 AND 4 OF SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF VARANIUM CLOUD LTD.
DID NOT EXERCISE DUE DILIGENCE AND PROPER CARE IN PREPARATION OF PROSPECTUS VIOLATING CLAUSE 2(C) OF FORM A OF SCHEDULE V READ WITH REGULATIONS 24(3) AND 25(2)(B) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF VARANIUM CLOUD LTD.
DID NOT MAKE DISCLOSURE OF PENDING LITIGATIONS VIOLATING CLAUSE 12 OF SCHEDULE VI READ WITH REGULATION 24(1) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF VARANIUM CLOUD LTD.
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 23-OCT-2027 TO 22-OCT-2029
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 23-OCT-2027 TO 22-OCT-2029
DIRECTED NOT TO TAKE UP ANY NEW MANDATE IN RELATION TO BUSINESS OF ISSUE MANAGEMENT DIRECTLY OR INDIRECTLY, EITHER BY MAKING ARRANGEMENTS REGARDING SELLING, BUYING OR SUBSCRIBING TO SECURITIES OR ACTING AS MANAGER, CONSULTANT, ADVISER OR RENDERING CORPORATE ADVISORY SERVICE IN RELATION TO ISSUE MANAGEMENT
IMPOSED PENALTY RS.10,00,000
25-AUG-2026
|
|
| 38 |
|
|
FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
|
|
|
SUBMITTED WRONG DISCLOSURE OF SHAREHOLDING PATTERN TO STOCK EXCHANGE REGARDING PLEDGED OR OTHERWISE ENCUMBERED IN DRAFT LETTER OF OFFER
SUBMITTED WRONG INFORMATION WITH RESPECT TO OFFICES, BRANCHES AND SUB-OFFICES OF COMPANY IN DRAFT LETTER OF OFFER
SUBMITTED WRONG INFORMATION WITH RESPECT TO COUNTRY-WISE PRODUCT-WISE EXPORTS FOR F.Y.2020-21 AND 2021-22 IN DRAFT LETTER OF OFFER
SUBMITTED WRONG FINANCIAL DETAILS WITH RESPECT TO WORKING CAPITAL REQUIREMENT FORMING OBJECT OF ISSUE IN DRAFT LETTER OF OFFER
|
IMPOSED PENALTY RS.3,00,000
21-FEB-2024
|
SEBI VIDE ITS NOTICE DATED 07/05/2024 DIRECTED TO PAY RS.3,13,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 30/05/2024 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 11/06/2024 ALLOWED THE APPEAL AND DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK ACCOUNTS INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUND FOLIOS OF THE DEFAULTERS WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 30/05/2024
SAT: SAT VIDE ITS ORDER DATED 01/08/2024 DISMISSED THE APPEAL AS WITHDRAWN
SEBI VIDE ITS ORDER DATED 09/08/2024 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7786 OF 2024 DATED 07/05/2024
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FIRST OVERSEAS CAPITAL LTD.
(PAN:AAACL4737A)
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DID NOT MAINTAIN MINIMUM NETWORTH
ENGAGED IN BUSINESS OTHER THAN SECURITIES
UNDERTOOK UNDERWRITING OBLIGATIONS EXCEEDING TWENTY TIMES OF ITS NET WORTH
ACCEPTED PUBLIC DEPOSITS TO FULFIL UNDERWRITING OBLIGATIONS
DID NOT INTIMATE SEBI REGARDING ACQUISITION OF SECURITIES OF ISSUER COMPANIES MANAGED BY MERCHANT BANKER
DELAY IN FILING OF HALF YEARLY REPORTS
MADE INCOMPLETE DISCLOSURE OF TRACK RECORD OF PUBLIC ISSUES ON ITS WEBSITE
DID NOT UPDATE TRACK RECORD ON THE WEBSITE AND IN TURN FALSELY SUBMITTED TO SEBI ABOUT SUBMISSION OF THE SAME
PROVIDED MISLEADING INFORMATION TO STOCK EXCHANGES
KEY MANAGEMENT PERSONNEL DID NOT OBTAIN SERIES III-A AND NISM IX CERTIFICATIONS
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RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 23-OCT-2025 TO 22-OCT-2027
DEBARRED FROM TAKING ANY NEW MANDATE IN RELATION TO BUSINESS OF ISSUE MANAGEMENT EITHER BY MAKING ARRANGEMENTS REGARDING SELLING, BUYING OR SUBSCRIBING TO SECURITIES OR ACTING AS MANAGER, CONSULTANT, ADVISER OR RENDERING CORPORATE ADVISORY SERVICE IN RELATION TO SUCH ISSUE MANAGEMENT FROM 23-OCT-2025 TO 22-OCT-2027
IMPOSED PENALTY RS.20,00,000
23-OCT-2025
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FORTRESS CAPITAL MANAGEMENT SERVICES PVT.LTD.
(PAN:AAACF7994B)
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MADE INCORRECT DISCLOSURES IN LETTER OF OFFER VIOLATING CLAUSES 4, 7 AND 20 OF CODE OF CONDUCT IN SCHEDULE III READ WITH REGULATION 13 OF MERCHANT BANKERS REGULATIONS, 1992 IN MATTER OF COROMANDEL ENGINEERING CO.LTD.
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IMPOSED PENALTY RS.1,00,000
27-SEP-2024
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