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SOURCE OF INFORMATION

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 : 03-JUL-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.

MERCHANT BANKERS: SUSPENDED REGISTRATION AS MERCHANT BANKER

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
21
History of entity/person COMFORT SECURITIES LTD.

(PAN:AABCC9625R)  
  INDULGED IN SIPHONING OFF/DIVERSION OF RS.33.83 CRORES IN IPO PROCEEDS VIOLATING SECTIONS 12(A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF IPO OF RAVI KUMAR DISTILLERIES LTD.

DID NOT EXERCISE DUE DILIGENCE, SKILL AND CARE AS INDEPENDENT PROFESSIONAL JUDGEMENT WHILE ACTING AS BOOK RUNNING LEAD MANAGER VIOLATING REGULATIONS 64(1), 8(2) (B), (E) AND (F) OF SEBI (ICDR) REGULATIONS, 2009 IN MATTER OF IPO OF RAVI KUMAR DISTILLERIES LTD.   		SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 19-OCT-2022 TO 18-OCT-2023

19-OCT-2022 		SAT: SAT VIDE ITS ORDER DATED 02/01/2023 ALLOWED RESPONDENT FURTHER ONE WEEK TO FILE REPLY AND REJOINDER TO BE FILED WITHIN TEN DAYS THEREAFTER  
22
History of entity/person CONSOLIDATED CAPITAL FINANCIALS LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 10-JUN-1998

18-JUN-1998 		 
23
History of entity/person COSTPLUS CREDIT CAPITAL LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-SEP-1998 TILL THE REMAINING PERIOD OF REGISTRATION

17-SEP-1998 		 
24
History of entity/person DANI & MERCHANT'S FIN.PROD.& SERV.(I) LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998

16-OCT-1998 		 
25
History of entity/person DOOGAR & ASSOCIATES LTD.  
  DID NOT EXERCISE DUE DILIGENCE IN PUBLIC ISSUE OF MANU FINLEASE LTD.   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 15-JAN-2001 TO 14-MAR-2001

08-FEB-2001 		 
26
History of entity/person DOOGAR & ASSOCIATES LTD.  
  DID NOT ISSUE ADVERTISEMENT FOR PUBLIC ANNOUNCEMENT FOR ACQUISITION OF SHARES OF KAYCEE INDUSTRIES LTD.

DID NOT EXERCISE DUE CARE AND DILIGENCE   		SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 17-OCT-2003 TO 16-NOV-2003

05-NOV-2003 		 
27
History of entity/person EIDER FINANCIAL SERVICES LTD.

(CIN:U74140HP1989PLC009243)  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-SEP-1998 TILL THE REMAINING PERIOD OF REGISTRATION

17-SEP-1998 		 
28
History of entity/person FICOM PROJECT TECHNOLOGIST PVT.LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 05-JUN-1998

15-JUN-1998 		 
29
History of entity/person FISCAL LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 10-AUG-1998

14-AUG-1998 		 
30
History of entity/person GATEWAY CAPITAL MANAGEMENT PVT.LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 19-JUN-1998

26-JUN-1998 		 
31
History of entity/person GAZI SECURITIES LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 13-AUG-1998

17-AUG-1998 		 
32
History of entity/person GSL SECURITIES LTD.

(PAN:AAACG1845Q
CIN:L65990MH1994PLC077417)  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998

16-OCT-1998 		 
33
History of entity/person GUJARAT FISCON LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 13-AUG-1998

17-AUG-1998 		 
34
History of entity/person IMPERIAL CORPORATE FINANCE & SERVICES PVT.LTD.  
Click here to view complete history of this specific entity/person R.KANNAN
Click here to view complete history of this specific entity/person V.K.NAIK
  		DID NOT EXERCISE DUE CARE & DILIGENCE IN RIGHTS ISSUE OF GAMMON INDIA LTD.   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-MAY-2003 TO 22-MAY-2003

10-APR-2003 		SAT: IMPUGNED ORDER AND ORDER PASSED BY ENQUIRY OFFICER SET ASIDE, NO ORDER AS TO COSTS  
35
History of entity/person INDO PACIFIC SECURITIES LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 12-AUG-1998

17-AUG-1998 		 
36
History of entity/person INDO-CASTLE FINANCE LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998

16-OCT-1998 		 
37
History of entity/person INTERACT LEASING & FINANCE LTD.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-OCT-1998

08-OCT-1998 		 
38
History of entity/person J.J.CHAUDHARI & CO.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 04-MAY-1998

08-MAY-1998 		 
39
History of entity/person KEYNOTE CORPORATE SERVICES LTD.

(PAN:AAACK3234D)  
  COMMITTED IRREGULARITIES IN PUBLIC ISSUE OF MAHA CHEMICALS LTD.   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 16-OCT-2003 TO 15-DEC-2003

26-SEP-2003 		SAT: ORDER MODIFIED WITH NO ORDER AS TO COSTS  
40
History of entity/person KRISHNA MURARI AGARWAL & CO.  
  DID NOT PAY FEES TO SEBI   SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 17-JUN-1998 TO 31-MAY-1999

09-JUL-1998 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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