| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
KASAT SECURITIES PVT.LTD.
(Along with : KAYNET CAPITAL LTD.)
|
|
|
|
RAJESH KASAT
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 42 |
|
|
KASAT SECURITIES PVT.LTD.
(Member : PSE/NSE)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 43 |
|
|
KASTHURIRANGAN & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE,Member : MDSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
EXECUTED MATCHING TRANSACTIONS
INDULGED IN EVASION OF MARGIN MONEY
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
02-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.25,000 FROM RS.1,00,000
|
| 44 |
|
|
KAYNET CAPITAL LTD.
(PAN:AABCK3032E)
(Member : BSE)
(Along with : KASAT SECURITIES PVT.LTD.,
KAYNET FINANCE LTD.)
|
|
|
|
RAJESH KASAT
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 45 |
|
|
KAYNET FINANCE LTD.
(PAN:AAACK3428B)
(Along with : KAYNET CAPITAL LTD.)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 46 |
|
|
KESHAV FINCON LTD.
(Member : UPSE)
|
|
|
DEFAULTED IN MAINTENANCE OF SAUDA BOOK
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DID NOT APPOINT COMPLIANCE OFFICER
DID NOT TRANSFER CLIENTS MONEY TO CLIENT'S ACCOUNT ON DAILY BASIS
DID NOT MAINTAIN ADEQUATE BALANCE IN CLIENTS ACCOUNT
ENTERED IN AGREEMENTS WITH CLIENTS ON PLAIN PAPERS INSTEAD OF STAMP PAPERS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 18-OCT-2006 TO 17-NOV-2006
28-SEP-2006
|
|
| 47 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Member : BSE/NSE)
|
|
|
|
NARAYAN S.A.
|
|
DID NOT MAINTAIN CLIENT DATABASE
FAILED TO OBTAIN WITNESS SIGNATURES
DID NOT SUBMIT COPY OF RECEIPT OF BANK STATEMENTS
DID NOT SUBMIT COPY OF BANK PASSBOOK FROM ANY OF THE CLIENTS ALONG WITH CLIENT REGISTRATION FORM
DID NOT COLLECT UPFRONT MARGINS
DID NOT EXERCISE DUE CARE AND DILIGENCE
OBTAINED PROOF OF IDENTITY OF ONLY DESIGNATED DIRECTORS/PARTNERS OF CORPORATE/PARTNERSHIP CLIENTS AND NOT OF PROMOTERS/KEY MANAGEMENT PERSONNEL
|
IMPOSED PENALTY RS.10,00,000
18-DEC-2006
SETTLEMENT ( SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.4,00,000 VIDE CONSENT ORDER)
30-JUN-2009~
|
SAT: ORDER DATED 18/12/2006 DISPOSSED OFF AS APPLICANT AGREED TO PAY RS.10,00,000 TOWARDS SETTLEMENT CHARGES AND RS.4,00,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 48 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Member : OTC)
|
|
|
|
NARAYAN S.A.
|
|
DID NOT MAINTAIN CLIENT DATABASE
FAILED TO OBTAIN WITNESS SIGNATURES
DID NOT SUBMIT COPY OF RECEIPT OF BANK STATEMENTS
DID NOT SUBMIT COPY OF BANK PASSBOOK FROM ANY OF THE CLIENTS ALONG WITH CLIENT REGISTRATION FORM
DID NOT COLLECT UPFRONT MARGINS
DID NOT EXERCISE DUE CARE AND DILIGENCE
OBTAINED PROOF OF IDENTITY OF ONLY DESIGNATED DIRECTORS/PARTNERS OF CORPORATE/PARTNERSHIP CLIENTS AND NOT OF PROMOTERS/KEY MANAGEMENT PERSONNEL
|
IMPOSED PENALTY RS.10,00,000
18-DEC-2006
SETTLEMENT ( SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.4,00,000 VIDE CONSENT ORDER)
30-JUN-2009~
|
SAT: ORDER DATED 18/12/2006 DISPOSSED OFF AS APPLICANT AGREED TO PAY RS.14,00,000 TOWARDS SETTLEMENT CHARGES AND RS.4,00,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 49 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Depository Participants : CDSL/NSDL,Member : BSE/NSE/OTC)
|
|
|
EXTENDED “DELAYED PAYMENT FACILITY” SIMILAR TO “MARGIN TRADING FACILITY” TO ITS CLIENTS
|
IMPOSED PENALTY RS.10,00,000
24-DEC-2008
SETTLEMENT ( SETTLEMENT CHARGES RS.12,00,000, LEGAL EXPENSES RS.25,000 VIDE CONSENT ORDER)
07-SEP-2009~
|
SAT: ORDER DATED 24/12/2008 DISPOSED OFF, AS APPLICANT AGREED TO PAY RS.12,00,000 TOWARDS SETTLEMENT CHARGES AND RS.25,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 50 |
|
|
LALKAR SECURITIES PVT.LTD.
(CIN:U65990MH1997PTC105421
PAN:AAACL1966B)
(Member : BSE)
|
|
|
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
EXECUTED FICTITIOUS TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-JUN-1998 TO 14-DEC-1999
29-JUL-1999
|
|
| 51 |
|
|
LOTUS INVESTMENTS & SECURITIES
(Member : NSE)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
ALLOTTED MULTIPLE CLIENT CODES TO ONE CLIENT
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
24-JAN-2006
|
|
| 52 |
|
|
M.J.PATEL SHARE & STOCK BROKERS LTD.
(Member : BSE)
|
|
|
|
MAHESH J.PATEL
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED AND ABETTED CLIENTS IN PRICE MANIPULATION IN SCRIP OF SNOWCEM INDIA LTD. BY EXECUTING ORDERS ON THEIR BEHALF
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 21-SEP-2004 TO 20-JAN-2005
31-AUG-2004
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 53 |
|
|
MAHESH J.DOSHI,M/S
(Member : BSE)
|
|
|
|
MAHESH J.DOSHI
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH SPECULATIVE TRANSACTIONS DONE BY CLIENTS WITHOUT ANY INTENTION OF TAKING OR GIVING DELIVERY OF SHARES OF EONOUR SOFTWARE LTD.
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT EXERCISE DUE CARE AND DILIGENCE IN MATTER OF EONOUR SOFTWARE LTD.
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
27-DEC-2005
|
|
| 54 |
|
|
MAHICO PVT.LTD.
(Member : BSE)
|
|
|
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 01-DEC-1998 TO 31-DEC-1999
26-AUG-1999
|
|
| 55 |
|
|
MANI & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE,Member : MDSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEFAULTED IN PAY-IN OBLIGATIONS
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
02-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.25,000 FROM RS.1,00,000
|
| 56 |
|
|
MARLECHA SECURITIES PVT.LTD.
(Member : BGSE)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
DEFAULTED IN VERIFYING FINANCIAL CAPABILITIES AND NET WORTH OF CLIENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
24-NOV-2006
|
|
| 57 |
|
|
MATHRAN SECURITIES LTD.
(Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT COLLECT MARGINS FROM CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
08-OCT-2004
|
|
| 58 |
|
|
MEFCOM SECURITIES LTD.
(PAN:AAACM1079Q)
(Member : NSE/BSE)
|
|
|
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 10-JUN-1998 TO 09-DEC-1999
29-JUL-1999
|
|
| 59 |
|
|
MEFCOM SECURITIES LTD.
(PAN:AAACM1079Q)
(Member : NSE/OTC/DSE/BSE)
|
|
|
|
VIJAY MEHTA
|
|
DID NOT MAINTAIN SEPARATE BOOKS OF ACCOUNTS FOR TRANSACTIONS ON DIFFERENT STOCK EXCHANGES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT RECORD TIME OF PLACEMENT OF ORDERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT ON COUNTERFOILS OF CONTRACT NOTES
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT MAINTAIN DESPATCH RECORDS
CONTRACT NOTES NOT SIGNED BY AUTHORISED REPRESENTATIVES
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
ENTERED IN AGREEMENTS WITH CLIENTS ON STAMP PAPERS OF INADEQUATE VALUE
DEFICIENCIES IN CLIENT DATABASE
DID NOT DISCLOSE DETAILS OF PROPRIETARY TRADING TO CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT COLLECT MARGINS FROM CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
DID NOT RECONCILE DIVIDEND ACCOUNTS OF CLIENTS
|
IMPOSED PENALTY RS.10,00,000
21-DEC-2005
|
SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS
|
| 60 |
|
|
MERFIN (INDIA) LTD.
(CIN:U65910AP1994PLC018942)
(Member : NSE)
|
|
|
|
P.S.R.NAGABHUSHANA RAO
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
USED CLIENTS' ACCOUNT FOR PAYMENT OF OWN OBLIGATIONS
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT EXERCISE DUE CARE AND DILIGENCE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
|
IMPOSED PENALTY RS.1,50,000
03-OCT-2006
|
|
| 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 6
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