| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
ATUL M.CHOKSHI,M/S
(Member : ASE)
|
|
|
|
ATUL MANHARLAL CHOKSHI
|
|
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT ON COUNTERFOILS OF CONTRACT NOTES
DID NOT MENTION CLIENT NUMBERS ON CONTRACT NOTES
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
28-DEC-2005
|
|
| 22 |
|
|
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
|
|
| 23 |
|
|
AXIS SECURITIES LTD.
(PAN:AABCE6263F)
(Member : BSE/NSE)
|
|
|
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PASSED PENALTY TO CLIENTS ON SHORT/NON-COLLECTION AND/OR REPORTING OF UPFRONT MARGINS
TRANSFERRED SECURITIES OF CREDIT BALANCE CLIENTS TO CLIENT’S UNPAID SECURITIES ACCOUNT
DID NOT PROVIDE CORRECT DATA TO STOCK EXCHANGE UNDER RISK-BASED SUPERVISION
EXPOSURE TO MARGIN TRADING FUNDING EXCEEDED THE ALLOWABLE THRESHOLD
DID NOT REDRESS INVESTOR COMPLAINTS
SHORT COLLECTION OF MARGINS FROM CLIENTS
|
IMPOSED PENALTY RS.10,00,000
21-FEB-2025
|
|
| 24 |
|
|
B.N.KAKKAR & CO.
(Member : UPSE)
|
|
|
|
B.N.KAKKAR
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT ISSUE CONTRACT NOTES
DID NOT MAKE PAYMENT TO CLIENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
|
IMPOSED PENALTY RS.20,000
06-DEC-2004
|
|
| 25 |
|
|
BAKLIWAL FINANCIAL SERVICES (INDIA) PVT.LTD.
(Member : BSE)
|
|
|
|
KAMAL B.BAKLIWAL
|
|
DID NOT ISSUE CONTRACT NOTES
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT FRAME CODE OF INTERNAL PROCEDURES AND CONDUCT FOR PREVENTION OF INSIDER TRADING
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE CARE AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
19-NOV-2004
|
|
| 26 |
|
|
BALANCE EQUITY BROKING (INDIA) PVT.LTD.
(PAN:AABCB6329B)
(Depository Participants : CDSL,Member : BSE/MSEI/NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
WRONG REASON FOR UPDATION FOR OFF MARKET TRANSFERS IN 2 INSTANCES
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
DID NOT UPLOAD DETAILS OF CLIENT TO STOCK EXCHANGE UNDER FUNDS AND SECURITIES MODULE OF ENHANCED SUPERVISION
DID NOT PROVIDE DATA REGARDING REGISTER OF COMMODITY, BROKERAGE, PERIODIC BANK RECONCILIATION, ORDER LOG ETC.
DID NOT MENTION SEBI REGISTRATION DETAILS ON CONTRACT NOTES AND STATEMENT OF ACCOUNT
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
|
IMPOSED PENALTY RS.17,00,000
19-MAY-2021
|
SEBI VIDE ITS NOTICE DATED 02/12/2022 DIRECTED TO PAY RS.20,41,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 20/12/2022 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.6076 OF 2020 DATED 02/12/2022
|
| 27 |
|
|
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
|
|
| 28 |
|
|
BAMA SECURITIES LTD.
(Member : NSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
04-JUN-2004
|
|
| 29 |
|
|
BANSAL SHAREVEST SERVICES LTD.
(Member : NSE/UPSE)
|
|
|
|
SONU AGARWAL
|
|
EXECUTED SINGLE TRADES AT EXCHANGE TO ASCERTAIN PRICES FOR EXECUTING BULK ORDERS ILLEGALLY OUTSIDE THE EXCHANGE MECHANISM
OFFERED ILLEGAL TRADING FACILITIES
ISSUED ADVERTISEMENTS RELATING TO BUSINESS IN VIOLATION OF CODE OF CONDUCT
ALLOWED TERMINALS TO UNREGISTERED SUB-BROKERS
INSTALLED UNAUTHORIZED TRADING TERMINALS IN EXCESS OF NSE ALLOTTED TERMINALS
DEALT WITH UN-REGISTERED SUB-BROKERS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DID NOT ISSUE CONTRACT NOTES
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
DID NOT COLLECT UPFRONT MARGINS
DEFAULTED IN DEPOSITING MARGIN AMOUNT WITH THE EXCHANGE
|
CANCELLED REGISTRATION AS STOCK BROKER FROM 23-JUL-2003 TO 22-JUL-2008
28-JUN-2006
SETTLEMENT ( SETTLEMENT CHARGES RS.50,00,000, LEGAL EXPENSES RS.2,50,000 VIDE CONSENT ORDER)
REACHED SETTLEMENT (CONSENT ORDER) (AGREED VOLUNTARILY TO BE SUSPENDE
|
SAT: APPLICANT AGREED TO PAY A SUM OF RS.50,00,000 TOWARDS SETTLEMENT CHARGES AND RS.2,50,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER DATED 09/06/2008 AND VOLUNTARILY UNDERTAKEN TO REMAIN SUSPENDED FOR A PERIOD OF 5 YEARS COMMENCING FROM 23/07/2003. ORDER DATED 28/06/2006 SET ASIDE
|
| 30 |
|
|
BHAGIRAT MERCHANT STOCK-BROKING PVT.LTD.
(Member : BSE)
|
|
|
DEFICIENCIES IN CLIENT DATABASE
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT FILE FIRST INFORMATION REPORT IN RESPECT OF STOLEN/FAKE/FORGED SHARES
DID NOT ADHERE TO CONDITIONS OF PROVISIONAL REGISTRATION
DEALT WITH UN-REGISTERED SUB-BROKERS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 03-MAR-2003 TO 02-JUL-2003
26-FEB-2003
|
|
| 31 |
|
|
BHARAT RASAYAN FINANCE LTD.
(Member : NSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI
DID NOT MAINTAIN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT IN CASH WITH CLIENTS
INDULGED IN UNAUTHORISED TRADES IN F&O SEGMENT
|
IMPOSED PENALTY RS.2,50,000
31-MAR-2009
|
SAT: APPEAL DISMISSED AS WITHDRAWN WITH NO ORDER AS TO COSTS
|
| 32 |
|
|
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
|
|
| 33 |
|
|
BHH SECURITIES PVT.LTD.
(PAN:AAACB6431H)
(Member : BSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEALT WITH UN-REGISTERED SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
14-JAN-2003
|
|
| 34 |
|
|
BIMAL KUMAR BARARIA,M/S
(Member : CSE)
|
|
|
|
BIMAL KUMAR BARARIA
|
|
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
IRREGULARITIES IN REGISTRATION OF CLIENTS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
ISSUED CONTRACT NOTES OF CSE FOR TRANSACTIONS DONE ON NSE
DID NOT ISSUE CONTRACT NOTES
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 13-MAY-2003 TO 12-SEP-2003
22-APR-2003
|
|
| 35 |
|
|
BLUE CHIP CORP.PVT.LTD.
(CIN:U67100PN2011PTC139197
PAN:AAECB5060A)
(Member : NSE)
|
|
|
|
BHAVANA SATISH CHADHA
PAN:AFNPC9292G
|
|
|
NITIN RAJARAM NARKE
PAN:AECPN7019L
|
|
|
PRAVIN B.DARAWADE
PAN:ATUPD8449F
|
|
INDULGED IN FUND BASED ACTIVITIES INVOLVING PERSONAL FINANCIAL LIABILITY VIOLATING RULE 8(3) (F) OF SECURITIES CONTRACTS (REGULATIONS) RULES, 1957
DID NOT INTIMATE SEBI ABOUT ITS NEW COMMUNICATIONS DETAILS AND THE PLACE WHERE BOOKS OF ACCOUNTS, RECORDS AND DOCUMENTS WERE MAINTAINED
|
DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI
DIRECTED NOT TO DEBIT BANK ACCOUNTS/DEMAT ACCOUNTS, HELD JOINTLY AND SEVERALLY EXCEPT FOR REFUND AND AFTER CONFIRMATION FROM CONCERNED STOCK EXCHANGE
DIRECTED STOCK EXCHANGES, BANKS AND DEPOSITORIES TO ENSURE COMPLIANCE OF THE DIRECTIONS
DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 04-SEP-2017 TO 03-SEP-2027
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-SEP-2017 TO 03-SEP-2027
DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 04-SEP-2017 TO 03-SEP-2027
PROHIBITED FROM TRANSFERRING FUNDS / DEPOSITS MOBILISED FROM THE CLIENTS OR OTHER INVESTORS OR FROM DISPOSING OF OR ALIENATING ANY ASSET THAT HAS BEEN CREATED FROM THE FUNDS/DEPOSITS RECEIVED FROM THEIR CLIENTS OR OTHER INVESTORS
DIRECTED TO IMPOUND FINANCIAL ASSETS
DIRECTED TO PROVIDE COMPLETE DETAILS OF AMOUNTS COLLECTED FROM INVESTORS AND AMOUNT DUE TO EACH OF THEM
PROHIBITED FROM MOBILIZING OR POOLING FUNDS FROM PUBLIC OR FROM OFFERING ANY UNREGISTERED SERVICE, IN WHATEVER FORM FROM 04-SEP-2017 TO 03-SEP-2027
PROHIBITED FROM MOBILIZING OR POOLING FUNDS FROM ITS CLIENTS, OTHER GENERAL INVESTORS OR PUBLIC OR ANY OTHER UNREGISTERED ACTIVITY, IN WHATEVER FORM
DIRECTED TO REFUND ALL THE MONIES TO INVESTORS ALONG WITH INCOME, PROFITS OR RETURNS PROMISED UNDER THE SCHEMES
DIRECTED TO SUBMIT REPAYMENT REPORT TO SEBI CERTIFIED BY TWO INDEPENDENT CHARTERED ACCOUNTANTS WHO ARE IN PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION
09-NOV-2015
|
SEBI VIDE ITS ORDER DATED 04/09/2017 1) PROHIBITED FROM MOBILIZING OR POOLING ANY FRESH FUNDS FROM THEIR CLIENTS, OTHER GENERAL INVESTORS OR MEMBERS OF PUBLIC IN WHATEVER FORM FOR A PERIOD OF TEN (10) YEARS FROM THE DATE OF THIS ORDER 2) REFUND THE MONIES SO COLLECTED FROM ITS CLIENTS AND OTHER INVESTORS THROUGH VARIOUS SCHEMES ALONG WITH INCOME, PROFITS OR RETURNS PROMISED TO THEM UNDER SUCH SCHEMES OR INTEREST AT THE @ OF 10% P.A., WHICHEVER IS HIGHER, FROM THE DATE OF INVESTMENT TILL THE DATE OF REFUND WITHIN A PERIOD OF NINETY (90) DAYS 3) SUBMIT A REPAYMENT REPORT TO SEBI AS CERTIFIED BY TWO INDEPENDENT CHARTERED ACCOUNTANTS WHO ARE IN THE PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION 4) PROVIDE A FULL INVENTORY OF ALL ASSETS AND PROPERTIES AND DETAILS OF ALL ITS BANK ACCOUNTS, DEMAT ACCOUNTS AND HOLDINGS OF SHARES/SECURITIES 5) NOT TO ACCESS SECURITIES MARKET DIRECTLY OR INDIRECTLY, AND ARE FURTHER RESTRAINED AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY FOR A PERIOD OF TEN (10) YEARS FROM THE DATE OF THIS ORDER
SEBI VIDE ITS NOTICE DATED 24/05/2019 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS 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
|
| 36 |
|
|
BUBNA STOCK BROKING SERVICES LTD.
(PAN:AABCB1128L)
(Member : CSE)
|
|
|
|
GOPI CHAND BANSHAL
|
|
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DEFICIENCIES IN REGISTRATION FORMS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT COLLECT MARGINS FROM CLIENTS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-JUN-2006 TO 27-JUN-2006
22-MAY-2006
|
|
| 37 |
|
|
C.P.SIKARIA & CO.
(Member : CSE)
|
|
|
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DID NOT REDRESS INVESTOR COMPLAINTS
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 COLLECT MARGINS FROM CLIENTS
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
DEFICIENCIES IN REGISTRATION FORMS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-JUN-2006 TO 11-DEC-2006
22-MAY-2006
|
|
| 38 |
|
|
CAPSTOCKS & SECURITIES (INDIA) PVT.LTD.
(PAN:AABCC6234A)
(Member : BSE/NSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED MISUTILISATION OF CLIENTS FUNDS
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
ALLEGED DELAY IN DELIVERY OF SECURITIES WITHIN STIPULATED TIME
ALLEGED FAILURE IN MAKING PAYMENTS OF CORPORATE BENEFITS TO CLIENTS WITHIN STIPULATED TIME
ALLEGED ACCEPTANCE OF CASH TOWARDS MARGINS/PAY-INS IN EXCESS OF LIMITS PRESCRIBED BY INCOME TAX ACT
ALLEGED INDULGENCE IN IMPRUDENT RISK MANAGEMENT PRACTICES
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.1,25,000 VIDE CONSENT ORDER)
10-AUG-2010
|
|
| 39 |
|
|
CD EQUISEARCH PVT.LTD.
(Member : BSE/NSE/MCX)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
IMPOSED PENALTY RS.5,00,000
12-MAR-2019
|
|
| 40 |
|
|
CIL SECURITIES LTD.
(Member : NSE)
|
|
|
|
K.K.MAHESHWARI
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF CORRECTION NOTE BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT EXERCISE DUE CARE AND DILIGENCE BY OVER SIGHTING TRANSACTIONS DONE ON TRADING TERMINALS GRANTED TO SUB BROKERS
|
IMPOSED PENALTY RS.1,00,000
27-NOV-2006
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 2 of 12
|
