| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
JM FINANCIAL LTD.
(PAN:AAACJ2590B)
|
|
|
LOANS EXTENDED DISPROPORTIONATE TO DECLARED INCOME
IN CERTAIN LOAN DOCUMENTS THERE WAS REFERENCE TO MASTER LOAN AGREEMENT WITH FUTURE DATES
LACKED OF RECEIPT OF UPFRONT MARGIN FROM CERTAIN APPLICANTS
1016 APPLICANTS WHO HAD AVAILED FUNDING FROM JMFPL-NBFC NOT ONLY SOLD THE SECURITIES BACK TO JMFPL-NBFC BUT ALSO TRANSFERRED ENTIRE AMOUNT INCLUDING PRINCIPAL AMOUNT, ACCRUED INTEREST AND TRADING GAINS TO JMFPL-NBFC
|
BARRED FROM TAKING ANY NEW MANDATE FOR ACTING AS LEAD MANAGER FOR ANY PUBLIC ISSUE OF DEBT SECURITIES
07-MAR-2024
|
SEBI VIDE ITS ORDER DATED 20/06/2024 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 07/03/2024 DIRECTING NOT TO ACT AS LEAD MANAGER IN ANY PUBLIC ISSUE OF DEBT SECURITIES TILL 31/03/2025 OR SUCH OTHER DATE AS MAY BE SPECIFIED BY SEBI
|
| 42 |
|
|
KARN MERCHANT BANKERS LTD.
|
|
|
DID NOT EXERCISE DUE DILIGENCE RESULTED IN WRONG OR NON DISCLOSURE OF ACCURATE SHAREHOLDING VIOLATING REGULATION 13 OF MERCHANT BANKERS REGULATIONS READ WITH CLAUSES 4, 7, 10 AND 20 OF CODE OF CONDUCT OF MERCHANT BANKERS REGULATIONS, 1992
DID NOT SUBMIT BASIS LITIGATION DOCUMENTS AND OTHER SUPPORTING DOCUMENTS SEEKING CLARIFICATION/EXPLANATION FROM ISSUER VIOLATING REGULATION 14(1) (E) OF MERCHANT BANKERS REGULATIONS, 1992
DID NOT EXERCISE DUE DILIGENCE RESULTED IN WRONG OR NON DISCLOSURE OF ACCURATE SHAREHOLDING VIOLATING REGULATION 64(1) OF MERCHANT BANKERS REGULATIONS, 1992
|
IMPOSED PENALTY RS.25,00,000
29-DEC-2017
|
INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 43 |
|
|
KARVY INVESTOR SERVICES LTD.
(PAN:AABCK2424J)
|
|
|
DID NOT HAVE NECESSARY INFRASTRUCTURE AND MANPOWER TO DISCHARGE ITS ACTIVITIES AS A MERCHANT BANKER VIOLATED REGULATION 6(AA) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
DID NOT HAVE IN EMPLOYMENT TWO PERSONS WITH EXPERIENCE TO CONDUCT BUSINESS OF MERCHANT BANKER VIOLATING REGULATIONS 6(AA) AND 6(B) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
INVOLVED IN LITIGATION CONNECTED WITH SECURITIES MARKET VIOLATING REGULATION 6(E) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
DID NOT PAY RENEWAL FEE FOR BLOCK DECEMBER, 2022 TO DECEMBER, 2025 AS PRESCRIBED UNDER REGULATION 12(1) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 28-MAR-2024
28-MAR-2024
|
|
| 44 |
|
|
KARVY INVESTOR SERVICES LTD.
(PAN:AABCK2424J)
|
|
|
DID NOT HAVE NECESSARY INFRASTRUCTURE AND MANPOWER TO DISCHARGE ITS ACTIVITIES AS A MERCHANT BANKER VIOLATED REGULATION 6(AA) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
INVOLVED IN LITIGATION CONNECTED WITH SECURITIES MARKET VIOLATING REGULATION 6(E) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
DID NOT PAY RENEWAL FEE FOR BLOCK DECEMBER, 2022 TO DECEMBER, 2025 AS PRESCRIBED UNDER REGULATION 12(1) OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 27-APR-2023 UNTIL FURTHER ORDERS
27-APR-2023
|
|
| 45 |
|
|
KARVY INVESTOR SERVICES LTD.
(PAN:AABCK2424J)
|
|
|
DID NOT ISSUE CORRIGENDUM FOR RECTIFYING ALL ERRORS IN OFFER DOCUMENT OF PUBLIC ISSUE OF NCDS OF KOSAMATTAM FINANCE LTD. VIOLATING CLAUSE 4 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DELAY IN SUBMISSION OF CORRIGENDUM TO THE OFFER DOCUMENT TO STOCK EXCHANGE IN PUBLIC ISSUE OF NCDS OF KOSAMATTAM FINANCE LTD. VIOLATING OF CLAUSE 4 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000 ALONG WITH OTHER ENTITIES/PERSONS
31-JUL-2023
|
|
| 46 |
|
|
KEYNOTE CORPORATE SERVICES LTD.
(PAN:AAACK3234D)
|
|
|
PARTICIPATED ACTIVELY IN THE SCHEME WITH INTENTION TO SECURE MINIMUM SUBSCRIPTION TO THE ISSUE WHICH OPERATED AS FRAUD UPON INVESTING PUBLIC VIOLATING REGULATION 3(B), (C), (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 READ WITH SECTION 12A (B) OF SEBI ACT, 1992 IN THE MATTER OF IPO OF EMMBI POLYARNS LTD.(NOW KNOWN AS EMMBI INDUSTRIES LTD.)
PARTICIPATED ACTIVELY IN THE SCHEME WITH INTENTION TO SECURE MINIMUM SUBSCRIPTION TO THE ISSUE WHICH OPERATED AS FRAUD UPON INVESTING PUBLIC VIOLATING CLAUSES 1, 2, 11, 12, 32(A) AND (B) OF CODE OF CONDUCT FOR MERCHANT BANEKRS SPECIFIED IN SCHEDULE III OF REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN THE MATTER OF IPO OF EMMBI POLYARNS LTD. (NOW KNOWN AS EMMBI INDUSTRIES LTD.)
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 27-APR-2016 TO 26-MAY-2016
06-APR-2016
|
|
| 47 |
|
|
KEYNOTE CORPORATE SERVICES LTD.
(PAN:AAACK3234D)
|
|
|
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE, PROPER CARE AND INDEPENDENT PROFESSIONAL JUDGEMENT IN PUBLIC ISSUE OF CONSORTEX KARL DOELITZSCH (INDIA) LTD.VIOLATING CLAUSE 2 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,00,000 VIDE CONSENT ORDER)
31-OCT-2012
|
|
| 48 |
|
|
KOTAK MAHINDRA CAPITAL CO.LTD.
(PAN:AAACK5577D)
|
|
|
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.”
|
| 49 |
|
|
KOTAK MAHINDRA CAPITAL CO.LTD.
(PAN:AAACK5577D)
|
|
|
ALLEGED FAILURE IN FOLLOWING CODE OF CONDUCT PRESCRIBED FOR MERCHANT BANKERS AS PER REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
ALLEGED DEFAULT IN FURNISHING DUE DILIGENCE REPORT AND VIOLATED CLAUSES 5.1,5.3.3.1,6.9.2.1,11.3.6,7.3, 7.4.1,7.7.7,16.2.2.2.OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,50,000 VIDE CONSENT ORDER)
27-AUG-2009
|
|
| 50 |
|
|
ONELIFE CAPITAL ADVISORS LTD.
(PAN:AAACO9540L)
(Member : BSE)
|
|
|
ALLEGED VIOLATION OF REGULATION 6 (GG) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 READ WITH SCHEDULE II OF SEBI (INTERMEDIARIES) REGULATIONS, 2008
ALLEGED VIOLATION OF REGULATION 5 (E) READ WITH 5A OF SEBI (STOCK BROKERS AND SUB-BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.16,80,000 VIDE CONSENT ORDER)
09-FEB-2017
|
|
| 51 |
|
|
RBS EQUITIES (INDIA) LTD.
|
|
|
ALLEGED FAILURE IN OBTAINING PRIOR APPROVAL FOR CHANGE IN STATUS OF CONSTITUTION I.E.INDIRECT CHANGE IN CONTROL AS REQUIRED UNDER REGULATION 9A(1) (A) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
13-MAY-2011
|
|
| 52 |
|
|
SAFFRON CAPITAL ADVISORS PVT.LTD.
|
|
|
DID NOT EXERCISE DUE DILIGENCE WHILE ENSURING VERACITY AND ADEQUACY OF DISCLOSURE MADE IN IPO PROSPECTUS IN RESPECT TO UTILIZATION OF BRIDGE LOAN OF RS.20 CRORES FROM UNION BANK OF INDIA VIOLATING 60(7)(A) AND 64(1) OF SEBI (ICDR) REGULATIONS, 2009 IN MATTER OF IPO OF ACROPETAL TECHNOLOGIES LTD.
DID NOT EXERCISE DUE DILIGENCE WHILE ENSURING VERACITY AND ADEQUACY OF DISCLOSURE MADE IN IPO PROSPECTUS IN RESPECT TO UTILIZATION OF BRIDGE LOAN OF RS.20 CRORES FROM UNION BANK OF INDIA VIOLATING CLAUSES 1 TO 4, 6, 7 AND 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS SPECIFIED IN UNDER SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF IPO OF ACROPETAL TECHNOLOGIES LTD.
|
IMPOSED PENALTY RS.5,00,000
18-DEC-2020
|
SAT: SAT VIDE ITS ORDER DATED 12/03/2021 CONDONED THE DELAY OF 15 DAYS IN FILING OF APPEAL AND ALLOWED THE APPLICATION. DIRECTED RESPONDENT THREE WEEKS TIME TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. MATTER TO BE LISTED FOR ADMISSION AND FINAL DISPOSAL ON 03/05/2021
|
| 53 |
|
|
SARTHI CAPITAL ADVISORS PVT.LTD.
(PAN:AARCS6417P)
|
|
|
DID NOT MAKE DISCLOSURE OF DEVIATION IN UTILIZATION OF FUNDS BY VIVO COLLABORATION SOLUTIONS LTD.
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
REPRESENTATIVES/EMPLOYEES DID NOT HAVE REQUISITE QUALIFICATION AND CERTIFICATION
|
IMPOSED PENALTY RS.15,00,000
22-MAR-2024
|
|
| 54 |
|
|
SB CAPITAL CONSULTANTS PVT.LTD.
|
|
|
DID NOT OBTAIN PRIOR APPROVAL FROM SEBI FOR CHANGE IN CONTROL IN TERMS OF PROVISIONS OF REGULATION 9A(1) (A) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992, CLAUSE 3 OF CODE OF CONDUCT AS SPECIFIED UNDER REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 AND SEBI CIRCULAR CIR/MIRSD/14/2011 DATED 02/08/2011
|
IMPOSED PENALTY RS.1,00,000
29-SEP-2016
|
|
| 55 |
|
|
SBI CAPITAL MARKETS LTD.
(PAN:AAACS7914E)
|
|
|
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.”
|
| 56 |
|
|
SKI CAPITAL SERVICES LTD.
(PAN:AAACS4864K)
|
|
|
DID NOT INDEPENDENTLY EXERCISE DUE DILIGENCE OF ALL DISCLOSURES IN PRIVATE PLACEMENT MEMORANDUM (PPM), SATISFY ITSELF W.R.T. VERACITY AND ADEQUACY OF DISCLOSURES AND MADE INCORRECT SUBMISSION TO SEBI WITHOUT VERIFYING THE FACTS PERTAINING TO DISCIPLINARY HISTORY OF THE FUND MANAGER
|
IMPOSED PENALTY RS.3,00,000
28-NOV-2024
|
|
| 57 |
|
|
SMC CAPITALS LTD.
(PAN:AABCS3706R)
|
|
|
DID NOT ISSUE CORRIGENDUM FOR RECTIFYING ALL ERRORS IN OFFER DOCUMENT OF PUBLIC ISSUE OF NCDS OF KOSAMATTAM FINANCE LTD. VIOLATING CLAUSE 4 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DELAY IN SUBMISSION OF CORRIGENDUM TO THE OFFER DOCUMENT TO STOCK EXCHANGE IN PUBLIC ISSUE OF NCDS OF KOSAMATTAM FINANCE LTD. VIOLATING OF CLAUSE 4 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000 ALONG WITH OTHER ENTITIES/PERSONS
31-JUL-2023
|
SAT: SAT VIDE ITS ORDER DATED 13/10/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN TWO WEEKS THEREAFTER
|
| 58 |
|
|
SYSTEMATIX CORPORATE SERVICES LTD.
(PAN:AAGCS3420D)
|
|
|
DID NOT EXERCISE DUE CARE AND DILIGENCE IN MATTER OF IPO OF XYZ LTD. VIOLATING REGULATION 24(3) OF SEBI (ICDR) REGULATIONS, 2018
DID NOT EXERCISE DUE CARE AND DILIGENCE IN MATTER OF IPO OF XYZ LTD. VIOLATING REGULATION 13 READ WITH CLAUSE 4 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DELAY IN MAKING REQUISITE STATUS UPDATES IN SEBI INTERMEDIARY PORTAL VIOLATING REGULATION 9A(1)(F) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 AND SEBI CIRCULAR DATED 02/05/2017
DID NOT MAINTAIN STRUCTURED DIGITAL DATABASE FOR MERCHANT BANKING RELATED ACTIVITIES DURING INVESTIGATION PERIOD VIOLATING REGULATION 3(5) OF SEBI (PIT) REGULATIONS, 2015
|
IMPOSED PENALTY RS.7,00,000
28-JUN-2024
|
|
| 59 |
|
|
TIPSONS CONSULTANCY SERVICES PVT.LTD.
(PAN:AADCT6508J)
|
|
|
ASSOCIATED WITH ISSUE OF U GRO CAPITAL LTD. PRIOR TO ITS APPOINTMENT AS MERCHANT BANKER
DELAY IN FILING OF DRAFT OFFER DOCUMENT WITH STOCK EXCHANGES
DID NOT CHECK WHETHER ANY FINES/PENALTIES WERE LEVIED BY STOCK EXCHANGES ON WATCHOUT INVESTORS WEBSITE
|
IMPOSED PENALTY RS.3,00,000
22-APR-2024
|
|
| 60 |
|
|
VERTEX SECURITIES LTD.
(PAN:AAACV7979E)
|
|
|
ALLEGED FAILURE IN OBTAINING PRIOR APPROVAL FOR CHANGE IN STATUS OF CONSTITUTION I.E.INDIRECT CHANGE IN CONTROL AS REQUIRED UNDER REGULATION 9A(1) (A) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.3,00,000 VIDE CONSENT ORDER)
06-SEP-2011
|
|
| 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 3 of 3
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