| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
INSIGHT SHARE BROKERS PVT.LTD.
(Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT OPEN SEPARATE BENEFICIARY ACCOUNTS FOR ALL CLIENTS AVAILING MARGIN TRADING FACILITY FROM THE BROKER
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT PAY STAMP DUTY ON CONTRACT NOTES
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
06-JAN-2006
|
|
| 42 |
|
|
J.BHARTIA & CO.
(Member : CSE)
|
|
|
|
JAGDISH PRASAD BHARTIA
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-JAN-2003 TO 13-JUL-2003
10-JAN-2003
|
|
| 43 |
|
|
J.V.S.SECURITIES PVT.LTD.
(Member : CSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES IN MAINTENANCE OF COUNTERFOILS OR DUPLICATES OF CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
EXECUTED NEGOTIATED DEALS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 20-JAN-2003 TO 19-JUL-2003
10-JAN-2003
|
|
| 44 |
|
|
JAI SHAREFIN LTD.
(Member : ASE)
|
|
|
|
RAJENDRA ACHARYA
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.75,000
12-MAY-2005
|
|
| 45 |
|
|
JAYANT PRANJIWANDAS,M/S
(Member : CMBSE)
|
|
|
|
J.PRANJIWANDAS
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT ISSUE CONTRACT NOTES
DID NOT RECTIFY BAD DELIVERIES IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT PAY FEES TO SEBI
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
08-OCT-1998
|
|
| 46 |
|
|
K & A SECURITIES PVT.LTD.
(PAN:AAACK1251G)
(Member : NSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF SECURITIES REGISTER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT FILE FIRST INFORMATION REPORT IN RESPECT OF STOLEN/FAKE/FORGED SHARES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
28-JAN-2002
|
|
| 47 |
|
|
K.PRASAD & CO.
(Member : CSE)
|
|
|
ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS
ALLEGED FAILURE IN SEGREGATING CLIENTS FUNDS AND SECURITIES
ALLEGED INDULGENCE IN REGISTRATION OF CLIENTS WITHOUT ANY VERIFICATION OF THE ANTECEDENTS OR WITHOUT A INTRODUCER
ALLEGED INDULGENCE IN MAINTAINING UNACKNOWLEDGED (BY CLIENTS) DUPLICATE COPIES OF CONTRACT NOTES
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.2,50,000 VIDE CONSENT ORDER)
16-AUG-2010
|
|
| 48 |
|
|
KANODIA STOCK BROKING PVT.LTD.
(PAN:AABCK3292N)
(Member : CSE)
|
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
27-DEC-2005
|
|
| 49 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
(Member : BSE/NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
ALLOTTED MULTIPLE CLIENT CODES TO ONE CLIENT
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DEFICIENCIES IN CLIENT DATABASE
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT COLLECT MARGINS FROM CLIENTS
|
IMPOSED PENALTY RS.2,00,000
18-NOV-2005
|
|
| 50 |
|
|
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
|
| 51 |
|
|
KORP SECURITIES LTD.
(PAN:AACCK1771D)
(Member : NSE)
|
|
|
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DIFFERENCES BETWEEN CLIENT LEDGER AND TRADE REPORT AS TRANSACTIONS CARRIED ON IN NAME OF A DIFFERENT CLIENT AND RECORDED IN BACK-OFFICE IN NAME OF ANOTHER CLIENTS
SAUDAS BEING PUNCHED IN THE BACK-OFFICE WITHOUT ACTUAL TRANSACTIONS BEING CARRIED OUT AT THE TERMINAL
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN SHAREHOLDING OF THE COMPANY
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JAN-2006 TO 16-JUL-2006
27-DEC-2005
|
|
| 52 |
|
|
LALIT CO.
(Member : CSE)
|
|
|
|
KISHAN LAL PUGALIA
|
|
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-OCT-2002 TO 13-APR-2003
17-OCT-2002
|
|
| 53 |
|
|
LIMRA SECURITIES LTD.
(Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.50,000
25-NOV-2004
|
|
| 54 |
|
|
LRM SECURITIES LTD.
(Member : DSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
PROVIDED FALSE/MISLEADING INFORMATION TO SEBI DURING INVESTIGATIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-JUL-2004 TO 07-OCT-2004
17-JUN-2004
|
|
| 55 |
|
|
M.AGARWAL STOCK BROKERS PVT.LTD.
(Member : DSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-NOV-2003 TO 11-DEC-2003
24-OCT-2003
|
|
| 56 |
|
|
M.TIBREWAL & CO.
(Member : CSE)
|
|
|
DEFAULTED IN MAINTENANCE OF RECORD OF TIME OF PLACEMENT OF ORDERS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-JUL-2006 TO 21-JUL-2006
16-JUN-2006
|
|
| 57 |
|
|
MALIRAM MAKHARIA FINSTOCK PVT.LTD.
(PAN:AACCM1102E)
(Member : BSE)
|
|
|
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
FAILED TO PAY DIVIDENDS TO SHAREHOLDERS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT EXERCISE DUE SKILL AND DILIGENCE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
IMPOSED PENALTY RS.2,00,000
05-SEP-2007
|
|
| 58 |
|
|
MANOG SECURITIES PVT.LTD.
(Member : NSE)
|
|
|
|
VIVEK GUPTA
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT ISSUE CONTRACT NOTES IN SPECIFIED FORMAT
DID NOT MAINTAIN HIGH STANDARDS OF INTEGRITY AND FAIRNESS IN CONDUCT OF BUSINESS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT DATABASE
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
|
IMPOSED PENALTY RS.1,50,000
20-SEP-2006
|
|
| 59 |
|
|
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
|
|
| 60 |
|
|
MG CAPITAL SERVICES LTD.
(CIN:U74899DL1994PLC061509
PAN:AAACM6670R)
(Member : NSE)
|
|
|
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED FAILURE IN MAINTENANCE OF CLIENT DATABASE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED DELAY IN DELIVERY OF SECURITIES WITHIN STIPULATED TIME
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED DEFAULT IN MAINTENANCE OF BOOK OF ACCOUNTS AND RECORDS
ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS
ALLEGED INDULGENCE IN PRO ACCOUNT TRADING
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.3,35,000 VIDE CONSENT ORDER)
31-OCT-2008
|
|
| 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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