| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
ARULRAJ & CO.
(Member : BGSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT ISSUE CONTRACT NOTES
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
INDULGED IN GALA TRANSACTIONS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT REDRESS INVESTOR COMPLAINTS
|
CANCELLED REGISTRATION AS STOCK BROKER FROM 26-FEB-1998
04-MAR-1998
|
|
| 22 |
|
|
ASE CAPITAL MARKETS LTD.
(CIN:U67120GJ2000PLC037431
PAN:AADCA4629D)
(Member : BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
20-FEB-2002
|
|
| 23 |
|
|
ASHIKA STOCK BROKING LTD.
(PAN:AACCA7156Q)
(Member : NSE/BSE/MCX)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT RECONCILE RUNNING ACCOUNTS OF CLIENTS
RETAINED CLIENTS SECURITIES WITHOUT ADEQUATE REASON
|
IMPOSED PENALTY RS.8,00,000
25-JUN-2018
|
|
| 24 |
|
|
ASHOK CHINUBHAI SHAH,M/S
(Member : ASE)
|
|
|
|
ASHOK CHINUBHAI SHAH
|
|
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
EXECUTED CROSS DEALS AMONG CLIENTS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
EXECUTED FICTITIOUS TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-JAN-2002 TO 06-MAY-2002
10-JAN-2002
|
|
| 25 |
|
|
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
|
|
| 26 |
|
|
ATUL M.CHOKSHI,M/S
(Member : ASE)
|
|
|
|
ATUL MANHARLAL CHOKSHI
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT CHARGE MINIMUM BROKERAGE
USED ACCOUNT OF SUB-BROKER TO GENERATE ADDITIONAL PROFIT
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
12-AUG-1999
|
|
| 27 |
|
|
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
|
|
| 28 |
|
|
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
|
|
| 29 |
|
|
B.R.JALAN SECURITIES PVT.LTD.
(PAN:AAACB4606Q)
(Member : BSE)
|
|
|
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.6,00,000 VIDE CONSENT ORDER)
18-MAY-2009
|
|
| 30 |
|
|
B.TAPURIA,M/S
(Member : BHSE)
|
|
|
|
BIJAY K.TAPURIA
|
|
DID NOT ISSUE CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEPARATE CLIENT ACCOUNT
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT PAY FEES TO SEBI
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 04-AUG-1998 TO 03-NOV-1998
21-JUL-1998
|
|
| 31 |
|
|
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
|
|
| 32 |
|
|
BALJIT SECURITIES PVT.LTD.
(Member : NSE/BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED MISUTILISATION OF CLIENTS FUNDS
ALLEGED FAILURE IN COLLECTION OF MARGIN FROM CLIENTS
ALLEGED FAILURE IN MAKING PAYMENTS OF CORPORATE BENEFITS TO CLIENTS WITHIN STIPULATED TIME
ALLEGED INDULGENCE IN INDIRECT FUND-BASED ACTIVITIES
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.4,00,000 VIDE CONSENT ORDER)
28-JUL-2010
|
|
| 33 |
|
|
BAMA SECURITIES LTD.
(Member : NSE)
|
|
|
|
DILIP M.BANG
|
|
|
KISHORE M.BANG
|
|
|
NIRMAL BANG
|
|
INDULGED IN LARGE TRADING TRANSACTIONS WITH A VIEW TO DEPRESS MARKET ARTIFICIALLY IN A CONCERTED MANNER
INDULGED IN SHORT SALES
INDULGED IN SYNCHRONIZED DEALS
TRADED IN PARTICULAR TIME SLOTS WHEN SHARE PRICES REGISTERED SUBSTANTIAL FALL
DEALT WITH UN-REGISTERED SUB-BROKERS
VIOLATED SEBI CODE OF CONDUCT
|
CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JUL-2002
30-JUL-2002
|
SAT: OPERATION OF ORDER CANCELLING REGISTRATION GRANTED TO APPELLANTS STAYED FOR 10 WEEKS AND RESPONDENT WILL FILE REPLY WITHIN 3 WEEKS FROM ORDER DATE
SAT: PART OF ORDER I.E.CANCELLING CERTIFICATE OF REGISTRATION OF BANG SECURITIES PVT.LTD. SET ASIDE AND APPEAL DISPOSED OF
|
| 34 |
|
|
BANG EQUITY BROKING PVT.LTD.
(Member : BSE)
|
|
|
|
DILIP M.BANG
|
|
|
KISHORE M.BANG
|
|
|
NIRMAL BANG
|
|
INDULGED IN LARGE TRADING TRANSACTIONS WITH A VIEW TO DEPRESS MARKET ARTIFICIALLY IN A CONCERTED MANNER
INDULGED IN SHORT SALES
INDULGED IN SYNCHRONIZED DEALS
TRADED IN PARTICULAR TIME SLOTS WHEN SHARE PRICES REGISTERED SUBSTANTIAL FALL
DEALT WITH UN-REGISTERED SUB-BROKERS
VIOLATED SEBI CODE OF CONDUCT
|
CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JUL-2002
30-JUL-2002
|
SAT: OPERATION OF ORDER CANCELLING REGISTRATION GRANTED TO APPELLANTS STAYED FOR 10 WEEKS AND RESPONDENT WILL FILE REPLY WITHIN 3 WEEKS FROM ORDER DATE
SAT: PART OF ORDER I.E.CANCELLING CERTIFICATE OF REGISTRATION OF BANG SECURITIES PVT.LTD. SET ASIDE AND APPEAL DISPOSED OF
|
| 35 |
|
|
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
|
| 36 |
|
|
BANSAL SHAREVEST SERVICES LTD.
(Member : NSE/UPSE)
|
|
|
|
SONU AGARWAL
|
|
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
|
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 23-JUL-2003 TILL COMPLETION OF INSPECTION
23-JUL-2003
|
SAT: APPEAL DISMISSED AS WITHDRAWN
CONFIRMED PROHIBITION ORDER DATED 23/07/2003
|
| 37 |
|
|
BGSE FINANCIALS LTD.
(Member : BSE/NSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT FURNISH AUDITOR'S CERTIFICATE ON QUARTERLY BASIS REGARDING COLLECTION OF MINIMUM MARGIN FROM CLIENTS
CONTRACT NOTES NOT SIGNED BY AUTHORISED REPRESENTATIVES
PERMITTED TURNOVER LIMITS ABOVE THE LIMITS PRESCRIBED BY BSE AND NSE
PERMITTED USE OF BMC DEPOSITED WITH THE PROMOTING STOCK EXCHANGE FOR FIXING GROSS EXPOSURE LIMIT AND TURNOVER LIMIT
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
24-JAN-2006
|
|
| 38 |
|
|
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
|
|
| 39 |
|
|
BHAGWANDAS BHOGILAL & CO.
(Member : BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
EXECUTED CROSS DEALS AMONG CLIENTS
DID NOT PAY FEES TO SEBI
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 13-JUN-2002 TO 12-SEP-2002 TILL PAYMENT OF SEBI FEE, WHICHEVER IS LATER
13-JUN-2002
|
|
| 40 |
|
|
BHARAT J.PATEL,M/S
(PAN:AAAPP6652R)
(Member : BSE)
|
|
|
|
BHARAT JAYANTILAL PATEL
PAN:AAAPP6652R
|
|
INDULGED IN MANIPULATION IN SCRIPS OF BPL, VIDEOCON AND STERLITE
DEALT FOR GROUP FOR WHICH DID NOT HAVE ANY PROFESSIONAL EXPERTISE IN THE SECURITIES MARKET AND FINANCIAL SOUNDNESS TO DEAL AT SUCH A LARGE SCALE
DID NOT COLLECT MARGINS FROM CLIENTS
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.
MADE PURCHASES WHICH WERE EXCESSIVE AND BEYOND CLIENT'S MEANS & FINANCIAL RESOURCES
PROVIDED FINANCE TO DAMAYANTI GROUP ENTITIES IN THE GARB OF SPOT PURCHASE OF SHARES THROUGH ONE OF ITS GROUP COMPANIES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-NOV-1998 TO 01-MAY-2000
31-JAN-2000
|
|
| 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 13
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