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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.

STOCK BROKERS: DEFAULTED/IRREGULARITIES IN PAY-IN OBLIGATIONS

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

(PAN:AAFCS1539J)

(Member : BSE/NSE)  
  DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES

PERMITTED HIGH EXPOSURE WITHOUT RENEWAL OF BANK GUARANTEE

ENHANCED TURNOVER LIMITS AND HIGH EXPOSURE LIMIT

DID NOT FOLLOW EARLY PAY-IN INSTRUCTIONS OF SEBI

DEALT WITH UN-REGISTERED SUB-BROKERS

ALLOWED SUB-BROKER TO TRADE DURING SUSPENDED PERIOD  
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

26-FEB-2008
 
22
History of entity/person SNR SHARES & STOCK SERVICES

(Sub-Broker of MPSE SECURITIES LTD., Member : BSE,Member : MPSE)  
Click here to view complete history of this specific entity/person SURAJ NARAYAN RATHI
 
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS

DID NOT MAINTAIN CLIENT AGREEMENTS

DID NOT MAINTAIN CLIENT REGISTRATION FORMS

DEFAULTED IN PAY-IN OBLIGATIONS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DEALT IN CASH WITH CLIENTS  
IMPOSED PENALTY RS.50,000 ALONG WITH OTHER ENTITIES/PERSONS

20-FEB-2009
 
23
History of entity/person SONY SECURITIES LTD.

(Member : NSE)  
  ACTED IN CONCERT WITH OTHER BROKERS TO CORNER A VERY LARGE QUANTITY OF SHARES OF BPL, VIDEOCON AND STERLITE

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIPS OF BPL LTD., VIDEOCON INTERNATIONAL LTD. AND STERLITE INDUSTRIES LTD.

DID NOT COLLECT MARGINS FROM CLIENTS

DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE

DEFAULTED IN PAY-IN OBLIGATIONS  
SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-JUN-1998 TO 10-JUN-2000

05-AUG-1999
 
24
History of entity/person STAR SHARE & STOCK BROKERS LTD.

(PAN:AAACS9106Q)

(Member : NSE)  
  ACTED IN CONCERT WITH OTHER BROKERS TO CORNER A VERY LARGE QUANTITY OF SHARES OF BPL, VIDEOCON AND STERLITE

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIPS OF BPL LTD., VIDEOCON INTERNATIONAL LTD. AND STERLITE INDUSTRIES LTD.

DID NOT COLLECT MARGINS FROM CLIENTS

DEFAULTED IN PAY-IN OBLIGATIONS  
SUSPENDED REGISTRATION AS STOCK BROKER FROM 05-DEC-1998 TO 16-SEP-1999

26-AUG-1999
 
25
History of entity/person VALFIN FINANCIAL SERVICES PVT.LTD.

(Member : NSE)  
  ACTED IN CONCERT WITH OTHER BROKERS TO CORNER A VERY LARGE QUANTITY OF SHARES OF BPL, VIDEOCON AND STERLITE

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIPS OF BPL LTD., VIDEOCON INTERNATIONAL LTD. AND STERLITE INDUSTRIES LTD.

DID NOT COLLECT MARGINS FROM CLIENTS

DEFAULTED IN PAY-IN OBLIGATIONS

DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE  
SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JUN-1998 TO 16-DEC-1999

28-OCT-1999
 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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