| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
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.”
|
| 22 |
|
|
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
|
|
| 23 |
|
|
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
|
| 24 |
|
|
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
|
|
| 25 |
|
|
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
|
|
| 26 |
|
|
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
|
| 27 |
|
|
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
|
|
| 28 |
|
|
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
|
| 29 |
|
|
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 23-OCT-2024 UNTIL FURTHER ORDERS
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
|
| 30 |
|
|
FORTRESS CAPITAL MANAGEMENT SERVICES PVT.LTD.
(PAN:AAACF7994B)
|
|
|
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.
|
IMPOSED PENALTY RS.1,00,000
27-SEP-2024
|
|
| 31 |
|
|
GOLDMAN SACHS (INDIA) SECURITIES PVT.LTD.
|
|
|
ALLEGED VIOLATION OF PARAGRAPH 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS UNDER SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF YES BANK LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.20,80,242 VIDE CONSENT ORDER)
29-JUN-2018
|
|
| 32 |
|
|
GUINESS CORPORATE ADVISORS PVT.LTD.
(PAN:AAHCS5232N)
|
|
|
DID NOT EXERCISE DUE DILIGENCE WITH RESPECT TO DISCLOSURES MADE IN PROSPECTUS OF ECO FRIENDLY FOOD PROCESSING PARK LTD., ESTEEM BIO ORGANIC FOOD PROCESSING LTD., CHANNEL NINE ENTERTAINMENT LTD. AND HPC BIOSCIENCES LTD.VIOLATING CLAUSES 1,3,4, 6 AND 7 OF CODE OF CONDUCT UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT EXERCISE DUE DILIGENCE WITH RESPECT TO DISCLOSURES MADE IN PROSPECTUS OF ECO FRIENDLY FOOD PROCESSING PARK LTD., ESTEEM BIO ORGANIC FOOD PROCESSING LTD., CHANNEL NINE ENTERTAINMENT LTD. AND HPC BIOSCIENCES LTD.VIOLATING REGULATION 64(1) OF SEBI ICDR REGULATIONS, 2009
|
IMPOSED PENALTY RS.5,00,000
04-DEC-2019
|
|
| 33 |
|
|
HOFFLAND FINANCE LTD.
(Member : BGSE/JSE)
|
|
|
|
A.SUBBA RAO
|
|
|
BRIJ BHUSHAN SHARMA
|
|
|
BRIJ KISHORE KAPUR
|
|
|
JAGDISH NARAYAN
|
|
|
M.N.PADAM
|
|
|
NAVEEN CHANDRA PANDEY
|
|
|
NAVIN PANDEY
|
|
|
PRAMODH KAPUR
|
|
|
SURAJ PAL SHARMA
|
|
VIOLATED SECTION 26 OF SEBI ACT, 1992
VIOLATED SEBI ACT, 1992
VIOLATED SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
VIOLATED SEBI (PFUTP) REGULATIONS, 1995
VIOLATED SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
PROSECUTION LAUNCHED
15-MAY-2006
|
A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM
A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM.
|
| 34 |
|
|
ICICI SECURITIES LTD.
(PAN:AAACI0996E)
|
|
|
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.”
|
| 35 |
|
|
ICICI SECURITIES LTD.
(PAN:AAACI0996E)
|
|
|
ALLEGED SUBMISSION OF QUESTIONABLE SITE VISIT REPORTS
ALLEGED FAILURE TO UNDERTAKE DUE DILIGENCE TO ENSURE THAT OBJECT OF THE ISSUE WAS SUPPORTED BY DOCUMENTARY EVIDENCE
ALLEGED INDULGENCE OF CONTRADICTORY STATEMENT IN DRHP AND NEWS ARTICLE WITH RESPECT TO ONE OF THE OBJECTS OF THE ISSUE
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.69,82,500 VIDE CONSENT ORDER)
20-AUG-2024
|
|
| 36 |
|
|
IDBI CAPITAL MARKET SERVICES LTD.
(PAN:AAACI1268F)
|
|
|
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.”
|
| 37 |
|
|
INTER CORPORATE FINANCIERS & CONSULTANTS LTD.
|
|
|
DID NOT PAY ANNUAL REGISTRATION FEES VIOLATING REGULATIONS 9A AND 12(1) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 31-MAR-2020
31-MAR-2020
|
|
| 38 |
|
|
INVENTURE MERCHANT BANKER SERVICES PVT.LTD.
(PAN:AACCI7082H)
|
|
|
DID NOT ENSURE PROPER DUE DILIGENCE REGARDING ESTIMATION OF WORKING CAPITAL REQUIREMENT IN SME – IPO
DID NOT CONDUCT DUE DILIGENCE, ENSURE PROPER CARE AND EXERCISE AS INDEPENDENT PROFESSIONAL JUDGEMEN
DELAY IN SUBMISSION OF HALF-YEARLY REPORT WITHIN STIPULATED TIME
DID NOT UPDATE TRACK RECORD ON THE WEBSITE AND IN TURN FALSELY SUBMITTED TO SEBI ABOUT SUBMISSION OF THE SAME
|
IMPOSED PENALTY RS.7,00,000
07-NOV-2023
|
|
| 39 |
|
|
INVENTURE MERCHANT BANKER SERVICES PVT.LTD.
(PAN:AACCI7082H)
|
|
|
DID NOT PRODUCE SEPARATE LEGAL CERTIFICATE FOR SME IPO OF AANCHAL ISPAT LTD. DURING INSPECTION VIOLATING REGULATIONS 57(1) AND 64(1) OF SEBI (ICDR) REGULATIONS, 2009
DID NOT PROVIDE WEBPAGE/WEBLINK OF ITS TRACK RECORD OF PUBLIC ISSUES MANAGED DURING TIME OF IPOS OR EVEN DURING TIME OF INSPECTION VIOLATING REGULATIONS 57(1) AND 64(1) OF SEBI (ICDR) REGULATIONS, 2009
DID NOT SUBMIT HALF YEARLY PERIODIC REPORTS FOR HALF YEAR ENDING SEPTEMBER 2015 AND MARCH 2015 VIOLATING REGULATIONS 57(1) AND 64(1) OF SEBI (ICDR) REGULATIONS, 2009
DID NOT EXERCISE DUE DILIGENCE WHILE DISCLOSING OUTSTANDING LOAN LIABILITY OF GROUP COMPANY IN PROSPECTUS OF AANCHAL ISPAT LTD. VIOLATING REGULATION 28(2) AND CLAUSES 4, 6 AND 20 OF CODE OF CONDUCT PRESCRIBED UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.10,00,000
28-JAN-2020
|
|
| 40 |
|
|
JM FINANCIAL CONSULTANTS PVT.LTD.
|
|
|
ALLEGED FAILURE IN FOLLOWING CODE OF CONDUCT PRESCRIBED FOR MERCHANT BANKERS AS PER REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
ALLEGED DEFAULT IN EXERCISING DUE DILIGENCE AND FURNISHING OF DUE DILIGENCE CERTIFICATE VIOLATING CLAUSES 5.1,5.3.3.1,11.3.5(V)(A) OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES 2000
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.4,00,000 VIDE CONSENT ORDER)
25-AUG-2009
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
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| Page 2 of 3
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