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: DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

APEX STOCK BROKERS PVT.LTD.

(Member : BSE)

Click here to view complete history of this specific entity/person

AMOL HOGADE

P.K.NAGPAL

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE EXECUTING TRANSACTIONS IN SCRIP OF DATABASE FINANCE LTD.

CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

13-JAN-2009

ARCHI SHARES & STOCK BROKERS PVT.LTD.

(Member : BSE/ASE)

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING WITH CLIENTS IN SCRIP OF OASIS MEDIA MATRIX LTD.

WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET

10-MAY-2010

ARGUS STOCK BROKING LTD.

(Member : DSE)

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING ON BEHALF OF CLIENTS IN SCRIP OF TACTFULL INVESTMENTS LTD.

CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

21-AUG-2007

ARTISTIC FINANCE PVT.LTD.

(PAN:AAACA0546Q)

(Member : NSE)

DID NOT EXERCISE DUE SKILL, DILIGENCE AND CARE IN MATTER OF MARUTI ORGANICS LTD.

CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

05-JUL-2002

ARVIND SECURITIES LTD.

(Member : NSE)

DID NOT EXERCISE DUE SKILL AND DILIGENCE IN MATTER OF MARUTI ORGANICS LTD.

INDULGED IN PRICE MANIPULATION IN SCRIP OF MARUTI ORGANICS LTD.

SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-AUG-2002 TO 21-AUG-2002

14-AUG-2002

ASK FINANCIAL SERVICES LTD.

(Member : NSE)

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING WITH CLIENT MANOJDEV SEKSARIA

IMPOSED PENALTY RS.10,00,000

06-AUG-2007

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

ATMARAM KEJRIWAL & CO.

(Member : UPSE)

DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK

DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK

DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS

DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES

ISSUED CONTRACT NOTES IN "FORM A" FOR TRANSACTIONS IN UNLISTED SHARES

DID NOT RECORD TIME OF PLACEMENT OF ORDERS ON CONTRACT NOTES

DID NOT RECORD TIME OF EXECUTION OF ORDER ON CONTRACT NOTES

SEBI REGISTRATION NO., TRADE NO. AND ORDER NO. NOT INDICATED ON CONTRACT NOTES

DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES

ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

DID NOT APPOINT COMPLIANCE OFFICER

ENTERED INTO DIRECT MONEY TRANSACTIONS BETWEEN MEMBERS

EXECUTED NEGOTIATED DEALS

WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET

27-DEC-2005

B.M.GANDHI SECURITIES PVT.LTD.

(PAN:AABCB3557B)

(Member : BSE)

PARESH GANDHI

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE EXECUTING TRADES IN SCRIP OF SAWACA COMMUNICATIONS LTD.

WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET

25-AUG-2011

B.M.GANDHI SECURITIES PVT.LTD.

(PAN:AABCB3557B)

(Member : BSE)

INDULGED IN CREATION OF ARTIFICIAL MARKET IN SCRIP OF MALVICA ENGINEERING LTD.

DID NOT EXERCISE DUE CARE AND DILIGENCE IN CONDUCT OF ITS BUSINESS AS A BROKER

SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JAN-2007 TO 16-MAR-2007

27-DEC-2006

SAT: IMPUGNED ORDER SET ASIDE AND APPEAL ALLOWED WITH NO ORDER AS TO COSTS

B.M.GANDHI SECURITIES PVT.LTD.

(PAN:AABCB3557B)

(Member : BSE)

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE IN MATTER OF SAWACA BUSINESS MACHINES LTD.

CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

15-OCT-2004

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

BALLABH DASS DAGA,M/S

(Member : CSE)

BALLABH DASS DAGA

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING IN SCRIP OF MINOLTA FINANCE LTD

INDULGED IN MARKET MANIPULATION AND PRICE MANIPULATION THROUGH CROSS DEALS AND SYNCHRONIZED TRANSACTIONS IN SCRIP OF MINOLTA FINANCE LTD.

IMPOSED PENALTY RS.3,00,000

09-JUL-2009

INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

SEBI VIDE ITS NOTICE DATED 10/07/2015 DIRECTED ALL THE BANKS 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

BALLABH DASS DAGA,M/S

(Member : CSE)

BALLABH DASS DAGA

DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE EXECUTING TRANSACTIONS IN SCRIP OF ROHAN FINANCE & SECURITIES LTD.

INDULGED IN PRICE MANIPULATION AND CREATION OF ARTIFICIAL MARKET BY SELF TRADES, REVERSE OF TRADE TRANSACTIONS, SYNCHRONIZED TRADES AND CROSS DEALS IN SCRIP OF ROHAN FINANCE & SECURITIES LTD.

IMPOSED PENALTY RS.2,00,000

20-NOV-2008

INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

SEBI VIDE ITS NOTICE DATED 10/07/2015 DIRECTED ALL THE BANKS 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

BALLABH DASS DAGA,M/S

(Member : CSE)

BALLABH DASS DAGA

INDULGED IN CREATION OF ARTIFICIAL MARKET IN SCRIPS OF PATRIOT TRADING CO.LTD. & GLOBE STOCKS & SECURITIES LTD.

VIOLATED CODE OF CONDUCT AS PRESCRIBED UNDER STOCK BROKER REGULATIONS

DID NOT EXERCISE DUE CARE AND DILIGENCE IN CONDUCT OF ITS BUSINESS AS A BROKER

SUSPENDED REGISTRATION AS STOCK BROKER FROM 16-APR-2007 TO 15-JAN-2008

26-MAR-2007

BAMA SECURITIES LTD.

(Member : NSE)

DILIP M.BANG

KISHORE M.BANG

NIRMAL BANG

VIOLATED SEBI ACT, RULES & REGULATIONS

DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 04-JUN-2001 TILL FURTHER ORDER

04-JUN-2001

SAT: OPERATION OF ORDER CANCELLING REGISTRATION GRANTED TO APPELLANTS STAYED FOR 10 WEEKS AND RESPONDENT WILL FILE REPLY WITHIN 3 WEEKS FROM DATE OF ORDER

SAT: PART OF ORDER I.E.CANCELLING CERTIFICATE OF REGISTRATION OF BANG SECURITIES PVT.LTD. SET ASIDE AND APPEAL DISPOSED OF

BANG EQUITY BROKING PVT.LTD.

(Member : BSE)

DILIP M.BANG

KISHORE M.BANG

NIRMAL BANG