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: DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

ORION BROKING SERVICES (INDIA) PVT.LTD.

(CIN:U67190TZ2010PTC015959
PAN:AABCO2694L)

(Member : MCX/NCDEX/NMCE/ACE/UCX)

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CINZY JOHNSON

PAN:AHNPC5874A

JOHNSON PUTHIAPARAMBIL JOSE

PAN:AFZPJ2029Q

DID NOT ADHERE TO REQUIREMENTS AND CONDITIONS OF REGISTRATION VIOLATING REGULATION 9 READ WITH CLAUSES A(1),A(3),A(5) AND B(1) UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB-BROKERS) REGULATIONS, 1992

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 29-AUG-2017 TO 28-AUG-2027

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-AUG-2017 TO 28-AUG-2027

DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 29-AUG-2017 TO 28-AUG-2027

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY

DIRECTED NOT TO DISPOSE OF PROPERTIES/ASSETS OWNED OR ACQUIRED WITHOUT PRIOR PERMISSION OF SEBI FROM 29-AUG-2017 TO 28-AUG-2027

DIRECTED NOT TO ALIENATE ANY ASSETS IN ANY FORM TILL THE FULL SETTLEMENT OF CLAIMS OF INVESTORS ARE EFFECTED

18-MAR-2016

SEBI VIDE ITS ORDER DATED 29/08/2017 1) RESTRAINED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN WHATSOEVER MANNER FOR A PERIOD OF TEN YEARS FROM DATE OF THIS ORDER ) NOT TO ALIENATE ANY ASSETS IN ANY FORM TILL THE FULL SETTLEMENT OF CLAIMS OF INVESTORS ARE EFFECTED

ORION CAPITAL & DEBT MARKET

(PAN:AACFO9456G)

(Member : NSE/BSE/MCX)

CINZY JOHNSON

PAN:AHNPC5874A

JOHNSON PUTHIAPARAMBIL JOSE

PAN:AFZPJ2029Q

JOSEPH PUTHIAPARAMBIL CHACKO

PAN:AKUPJ0403G

P.K.AGARWAL & CO.

(Member : CSE)

PRAMOD KUMAR AGARWAL

ACTED IN CONCERT WITH OTHER BROKERS TO CREATE ARTIFICIAL MARKET AND PRICE RISE THROUGH CONTINUOUS SELF DEALS EXECUTED AT ONE TERMINAL AND CROSS DEALS AMONG THEMSELVES

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 12-DEC-2009 TO 31-MAR-2012

SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-DEC-2009 TO 31-MAR-2012

30-NOV-2005

RESTRAINT ORDER IMPOSED BY WAY OF INTERIM ORDERS DATED 29/09/2005 AND 30/11/2005 AND LATER CONFIRMED BY ORDERS DATED 12/01/2006 AND 31/05/2006 VACATED VIDE ORDER DATED 11/08/2008

DIRECTIONS PASSED VIDE EX-PARTE INTERIM ORDER DATED 30/11/2005 SHALL REMAIN IN FORCE TILL FURTHER ORDERS AS PER ORDER DATED 31/05/2006

PARAGON INVESTMENTS PVT.LTD.

(Member : SKSE)

HEMRAJSINGH SURENDRASINGH VAGHELA

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH SELF TRADES IN SCRIP OF BAFFIN ENGINEERING PROJECTS LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 07-APR-2010 TO 06-APR-2012

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 07-APR-2010 TO 06-APR-2012

07-APR-2010

SAT: APPEAL DISMISSED AS WITHDRAWN

PARSOLI CORP.LTD.

(PAN:AABCP9030F)

(Depository Participants : CDSL,Member : BSE/NSE)

A.HAMEED A.GAFFAR MEMON

ABDUL HAMEED ABDUL GAFFER MEMON

ABDULHAMED A.GAFFAR MEMON

ABDULSAMAD ABDUL GAFFER MEMON

AHMED ZAFAR SARESHWALA

AMENA MAKSUD KOTHAWALA

ASLAMKHAN REHMATKHAN PATHAN

ASMA UVES SARESHWALA

FATEMA MUKHTAR KOTHAWALA

FATEMA UVES SARESHWALA

GULAM RASOOL MOHIUDDIN BOMBAYWALA

HABIB ZAFAR SARESHWALA

PAN:BGKPS5329B

IFTEKHAR MOHAMMED YUSUF MANSOORI

KHADIJA ZAFAR SARESHWALA

MAKSUD YUSUFBHAI KOTHAWALA

MANSURI IFTEKHAR M.YUSUF

MARIAM YUSUF KOTHAWALA

MOHAMMED A.KOTHAWALA

MOHAMMED ALIBHAI KOTHAWALA

PAN:ADUPK0440R

MUKHTAR YUSUFBHAI KOTHAWALA

NASIR MALIK

QUDSIYA TALHA SARESHWALA

SALEHA MOHAMMED YUNUS SARESHWALA

SUMAIYA TALHA SARESHWALA

TALHA SARESHWALA

TALHA YUNUS SARESHWALA

UMAR UVES SARESHWALA

PAN:BFQPS9169J

UVES MOHAMMED YUNUS SARESHWALA

DIN:00123493
PAN:AOFPS5856M

YUSUFBHAI UMARBHAI KOTHAWALA

ZAFAR YUNUS SARESHWALA

DIN:00123536
PAN:ANYPS8494D

INDULGED IN CONSPIRACY WITH REGISTRAR IN GETTING SHARES TRANSFERRED FRAUDULENTLY IN THEIR ACCOUNT IN MATTER OF PARSOLI CORP.LTD.

INDULGED IN CONSPIRACY WITH REGISTRAR IN DELAYING TRANSFER OF SHARES IN MATTER OF PARSOLI CORP.LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 20-FEB-2009 TILL FURTHER ORDERS

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 20-FEB-2009 TILL FURTHER ORDERS

DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 20-FEB-2009 TILL FURTHER ORDERS

DIRECTED TO REMOVE PINNACLE SHARES REGISTRY PVT.LTD. AS REGISTRAR AND TRANSFER AGENT AND APPOINT ANOTHER REGISTRAR AND TRANSFER AGENT WITHIN SIX MONTHS

DIRECTED NOT TO OPEN FRESH DEMAT ACCOUNTS FROM 20-FEB-2009 TILL FURTHER ORDERS

DIRECTED TO CONDUCT SECRETARIAL AUDIT TO IDENTIFY ACTUAL SHAREHOLDERS AND RECONCILE THEIR RECORDS

20-FEB-2009

SAT: APPEAL DISMISSED AS WITHDRAWN

SAT: DIRECTED SEBI TO CONCLUDE ENQUIRY PROCEEDINGS AT THE EARLIEST BUT NOT LATER THAN 31/07/2010, EVEN IF APPELLANT DOES NOT FILE ITS REPLY WITH NO ORDER AS TO COSTS

PRAMOD KUMAR KOTHARI,M/S

(Member : CSE)

PRAMOD KUMAR KOTHARI

ACTED IN CONCERT WITH OTHER BROKERS TO CREATE ARTIFICIAL MARKET AND PRICE RISE THROUGH CONTINUOUS SELF DEALS EXECUTED AT ONE TERMINAL AND CROSS DEALS AMONG THEMSELVES

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-NOV-2005 TILL FURTHER ORDERS

30-NOV-2005

DIRECTED THAT INTERIM ORDER SHALL REMAIN IN FORCE TILL FURTHER ORDERS

RESTRAINT ORDER IMPOSED BY WAY OF INTERIM ORDERS DATED 29/09/2005 AND 30/11/2005 AND LATER CONFIRMED BY ORDERS DATED 12/01/2006 AND 31/05/2006 VACATED

PREMA PODDAR,M/S

(Member : CSE)

PREMA PODDAR

DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 18-OCT-2002 TILL THE COMPLETION OF INVESTIGATION

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 18-OCT-2002 TILL THE COMPLETION OF INVESTIGATION

18-OCT-2002

PURSHOTTAM LAL KEJRIWAL,M/S

(Member : CSE)

PURSHOTTAM LAL KEJRIWAL

ACTED IN CONCERT WITH OTHER BROKERS TO CREATE ARTIFICIAL MARKET AND PRICE RISE THROUGH CONTINUOUS SELF DEALS EXECUTED AT ONE TERMINAL AND CROSS DEALS AMONG THEMSELVES

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-NOV-2005 TILL FURTHER ORDERS

30-NOV-2005

RAGAVI INVESTMENTS

(Member : CMBSE)

M.JAYAKUMAR

MANIPULATION IN BUYING, SELLING AND DEALINGS IN SCRIP OF JINDAL IRON & STEEL CO.LTD. IN COLLUSION WITH WELDEAL SHARES PVT.LTD.

EXECUTED FRAUDULENT TRANSACTIONS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 11-JAN-2003 TO 10-JAN-2005

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 11-JAN-2003 TO 10-JAN-2005

11-JAN-2003

RAGHUKUL SHARES INDIA PVT.LTD.

(CIN:U67120RJ2009PTC029155
PAN:AAECR3716R)

(Member : BSE/NSE/MCX/NCDEX)

AMIT SHARMA

DIN:02505457
PAN:AFGPS8573K

GANGA RAM KHANDELWAL

DIN:01731730
PAN:ADRPK5114D

MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES

DID NOT SETTLE CLIENT�S FUNDS AND/OR SECURITIES

DID NOT MAINTAIN BOOKS OF ACCOUNT AND OTHER DOCUMENTS

DID NOT MAINTAIN NETWORTH AND DEPOSIT REQUIREMENTS

MADE FIXED PAYMENTS/RETURNS TO CLIENTS

DID NOT OBTAIN PRIOR APPROVAL FROM STOCK EXCHANGE FOR CHANGE IN CONTROL AND APPOINTMENT OF DIRECTOR VIOLATING SEBI CIRCULAR CIR/MIRSD/14/2011 DATED 02/08/2011 AND CIR/MIRSD/2/2011 DATED 03/06/2011

DID NOT REPORT COMPLETE AND CORRECT DATA TO EXCHANGE ON TIME VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/MIRSD2/CIR/P/2016/95 DATED 26/09/2016

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 28-JUN-2019 TO 27-JUN-2026

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 28-JUN-2019 TO 27-JUN-2026

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 TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

28-JUN-2019

SEBI VIDE ITS ORDER DATED 24/01/2020 CONFIRMED DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 28/06/2019

SEBI VIDE ITS ORDER DATED 31/05/2023 DIRECTED TO A) RESTRAINED FROM ACCESSING SECURITIES MARKET AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY AND ASSOCIATING WITH SECURITIES MARKET IN ANY MANNER FOR SEVEN YEARS FROM DATE OF INTERIM ORDER B) DURING PERIOD OF RESTRAINT EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS TO REMAIN FROZEN C) JOINTLY AND SEVERALLY, REPAY/REFUND THE MONEY TO INVESTORS/CLIENTS WITH INTEREST @15% P.A. FROM DATE WHEN THE REPAYMENTS BECAME DUE TO INVESTORS TILL DATE OF ACTUAL PAYMENT UNDER SUPERVISION OF NSE D) JOINTLY AND SEVERALLY RETURN THE SECURITIES DUE TO CLIENTS/INVESTORS OF RAGHUKUL SHARES INDIA PVT.LTD. OR THEIR MONETARY VALUE AS ON DATE OF ACTUAL PAYMENT OF MONEY IN LIEU OF SHARES UNDER SUPERVISION OF NSE E) NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS, WHETHER MOVABLE OR IMMOVABLE (INCLUDING FUNDS IN THEIR BANK ACCOUNTS) OR CREATE ANY INTEREST OR CHARGE IN ANY SUCH ASSETS, TILL SUCH TIME THE REFUNDS/REPAYMENTS F) BANKS ARE TO ENSURE NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY, EXCEPT FOR THE PURPOSE OF PAYMENT OF MONEY TO CLIENTS/INVESTORS UNDER THE WRITTEN CONFIRMATION OF NSE G) NSE DEFAULTERS COMMITTEE TO, AS EXPEDITIOUSLY AS POSSIBLE OPEN AND OPERATE DEDICATED DEMAT ACCOUNT WHERE ALL THE SECURITIES LYING IN THE DEMAT ACCOUNT OF RAGHUKUL SHARES INDIA PVT.LTD. TO BE TRANSFERRED H) NSE DEFAULTERS COMMITTEE TO OPEN AND OPERATE A DEDICATED INTEREST BEARING BANK ACCOUNT WITH NATIONALIZED BANK WHERE ALL THE FUNDS LYING IN VARIOUS BANK ACCOUNTS HELD IN THE NAME OF RAGHUKUL SHARES INDIA PVT.LTD. SHALL BE TRANSFERRED I) MODALITIES OF SELLING ASSETS, DEPOSITING PROCEEDS THEREOF IN ESCROW ACCOUNT(S) TO BE WORKED OUT BY NSE J) NSE TO DEAL WITH CLAIMS OF CLIENTS/INVESTORS IN ACCORDANCE WITH BYE-LAWS AND PROCEDURES AFTER ADJUSTING DISBURSEMENTS MADE THROUGH DEFAULTERS COMMITTEE MECHANISM K) PROCEED WITH RECOVERY OF FUNDS AND SECURITIES FROM THE ASSETS OF RESPECTIVE NOTICEES TO COVER ANY SHORTFALL IN FUNDS AND SECURITIES IN ESCROW ACCOUNTS(S) AND DEMAT ACCOUNT

RAJ KUMAR PODDAR,M/S

(Member : CSE)

RAJ KUMAR PODDAR

DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

RATAN LAL PODDAR,M/S

(Member : CSE)

RATAN LAL PODDAR

DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

RRB MASTER SECURITIES DELHI LTD.

(PAN:AACCR3227P)

(Member : NSE)

(Along with : GEMINI PORTFOLIOS PVT.LTD.)

LALIT BHASIN

PAN:AFDPB2550A

SANJIV BHASIN

PAN:AAXPB9978P