| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
FALGUN FINVEST
(Sub-Broker of VENTURA SECURITIES LTD., Member : NSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
ISSUED FICTITIOUS CONTRACT NOTES
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 15 READ WITH CLAUSES A(1&2) AND D(1,4&5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF FAST TRACK ENTERTAINMENT LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
23-NOV-2010
|
|
| 42 |
|
|
FALGUN FINVEST
(Sub-Broker of VENTURA SECURITIES LTD., Member : BSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
ISSUED FICTITIOUS CONTRACT NOTES
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 15 READ WITH CLAUSES A(1&2) AND D(1,4&5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF FAST TRACK ENTERTAINMENT LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
23-NOV-2010
|
SEBI VIDE ITS NOTICE DATED 16/07/2014 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 43 |
|
|
FALGUN FINVEST
(Sub-Broker of VENTURA SECURITIES LTD., Member : NSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
ISSUED FICTITIOUS CONTRACT NOTES
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 15 READ WITH CLAUSES A(1&2) AND D(1,4&5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF FAST TRACK ENTERTAINMENT LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
23-NOV-2010
|
|
| 44 |
|
|
FALGUN FINVEST
(Sub-Broker of VENTURA SECURITIES LTD., Member : BSE)
|
|
|
|
CHARU NIRAJ SANGHVI
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH OFF-MARKET TRANSACTIONS IN SCRIP OF ELTROL LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE VIOLATING REGULATION 7 READ WITH CLAUSES A(1) & A(2) OF CODE OF CONDUCT FOR SUB-BROKERS UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF ELTROL LTD.
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
15-FEB-2011
|
SEBI VIDE ITS NOTICE DATED 05/09/2014 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 45 |
|
|
GANPATI INVESTMENTS
(Sub-Broker of UTTAM FINANCIAL SERVICES LTD., Member : BSE)
|
|
|
|
VIVEK KUMAR
PAN:AEVPK8548L
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF TULIP IT SERVICES LTD.
DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND INDULGED IN MANIPULATION VIOLATING REGULATION 15 READ WITH CLAUSES A(2) AND D(4) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF TULIP IT SERVICES LTD.
|
IMPOSED PENALTY RS.5,00,000 ALONG WITH OTHER ENTITIES/PERSONS
29-AUG-2011
|
INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
SEBI VIDE ITS NOTICE DATED 17/07/2014 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 46 |
|
|
GAUTAMBHAI NANUBHAI JHAVERI
(PAN:ADAPJ5993J)
(Sub-Broker of ASE CAPITAL MARKETS LTD., Member : BSE)
|
|
|
|
GAUTAM NANUBHAI JHAVERI
PAN:ADAPJ5993J
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH SYNCHRONIZED, CIRCULAR TRANSACTIONS AND REVERSAL OF TRADE TRANSACTIONS IN SCRIP OF WELLWORTH OVERSEAS LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 7 READ WITH CLAUSES A(1),A(2)D(1),D(4) AND D(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF WELLWORTH OVERSEAS LTD.
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
24-AUG-2010
|
SAT: ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.3,00,000 FROM RS.6,00,000
INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 47 |
|
|
GAUTAMBHAI NANUBHAI JHAVERI
(PAN:ADAPJ5993J)
(Sub-Broker of ASE CAPITAL MARKETS LTD., Member : BSE)
|
|
|
|
GAUTAM NANUBHAI JHAVERI
PAN:ADAPJ5993J
|
|
INDULGED IN CREATION ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH SYNCHRONIZED TRANSACTIONS IN SCRIP OF ADANI EXPORTS LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 15 READ WITH CLAUSES A(1),A(2),D(1),D(4) AND D(5) OF CODE OF CONDUCT FOR SUB-BROKERS UNDER SCHEDULE II OF SEBI BROKER REGULATIONS, 1992 IN MATTER OF ADANI EXPORTS LTD. (NOW KNOWN AS ADANI ENTERPRISES LTD.)
|
IMPOSED PENALTY RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-APR-2013
|
SAT: SAT VIDE ITS ORDER DATED 09/10/2013 MODIFIED SEBI'S ORDER DATED 30/04/2013 BY REDUCING PENALTY AMOUNT TO RS.1 LAC FROM RS.10 LACS. NO COSTS
INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 48 |
|
|
GAUTAMBHAI NANUBHAI JHAVERI
(PAN:ADAPJ5993J)
(Sub-Broker of ASE CAPITAL MARKETS LTD., Member : BSE)
|
|
|
|
GAUTAM NANUBHAI JHAVERI
PAN:ADAPJ5993J
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF ADITYA INTERNATIONAL LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND INDULGED IN MANIPULATIVE ACTIVITIES REQUIREMENTS VIOLATING REGULATION 15 READ WITH CLAUSES A(1),A(2),D(1),D(4) AND D(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (SUB BROKERS) REGULATIONS, 1992 IN MATTER OF ADITYA INTERNATIONAL LTD.
|
IMPOSED PENALTY RS.3,50,000 ALONG WITH OTHER ENTITIES/PERSONS
17-DEC-2012
|
SAT: APPEAL ALLOWED WITH NO ORDER AS TO COSTS
|
| 49 |
|
|
GEETHA P.S.,M/S
(PAN:AKGPG2999E)
(Sub-Broker of INDITRADE CAPITAL LTD., Member : NSE)
|
|
|
|
GEETHA P.S.
PAN:AKGPG2999E
|
|
TRADED ON BEHALF OF CLIENTS IN F&O SEGMENT WITHOUT APPROVAL OF AUTHORISED PERON VIOLATING CLAUSE D(C) (IV) OF CONSOLIDATED NSE CIRCULAR 001/2013 DATED 13/02/2013 IN MATTER OF INDITRADE CAPITAL LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 15 READ WITH CLAUSES A(1) AND D(1) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB-BROKER) REGULATIONS, 1992 IN MATTER OF INDITRADE CAPITAL LTD.
|
IMPOSED PENALTY RS.50,000 ALONG WITH OTHER ENTITIES/PERSONS
21-DEC-2018
|
|
| 50 |
|
|
GINI ENTERPRISES
(Sub-Broker of H.NYALCHAND FINANCIAL SERVICES LTD., Member : NSE)
|
|
|
|
TARUN GANDHI
|
|
ACTED AS SUB-BROKER OF H.NYALCHAND FINANCIAL SERVICES LTD.WITHOUT SEBI REGISTRATION
|
IMPOSED PENALTY RS.1,00,000
31-JUL-2006
|
|
| 51 |
|
|
GIRISH B.SHAH,M/S
(Sub-Broker of VSE STOCK SERVICES LTD., Member : BSE)
|
|
|
|
GIRISH B.SHAH
|
|
DID NOT EXERCISE DUE DILIGENCE, CARE & DILIGENCE WHILE ACCEPTING CLIENTS AND TRADING FOR THEM VIOLATING CLAUSE A(2) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF SOMANI CEMENT CO.LTD.
|
IMPOSED PENALTY RS.50,000
24-DEC-2009
|
|
| 52 |
|
|
INFIMAGE SHARES & STOCK
(Sub-Broker of GROWTH AVENUES LTD., Member : NSE)
|
|
|
|
JAYAKANT K.DIWAN
|
|
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENT TO CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DEALT IN CASH WITH CLIENTS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT EXERCISE DUE CARE AND DILIGENCE IN EXECUTING SUB-BROKING ACTIVITIES
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
27-OCT-2006
|
SEBI VIDE ORDER DATED 20/12/2007 APPOINTED AN OFFICER TO CONDUCT PROCEEDINGS. AS SUB BROKER HAD ALREADY PAID PENALTY, OFFICER RECOMMENDED TO DROP THE PROCEEDINGS. PROCEEDINGS STANDS DISPOSED OFF ACCORDINGLY
|
| 53 |
|
|
JANUS STOCK BROKERS PVT.LTD.
(Sub-Broker of INA STOCK BROKING CO.PVT.LTD., Member : BSE)
|
|
|
DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE EXECUTING TRANSACTIONS IN SCRIP OF VERONICA LABORATORIES LTD.
|
IMPOSED PENALTY RS.75,000
01-APR-2009
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.40,000 FROM RS.75,000 LEAVING PARTIES TO BEAR THEIR OWN COSTS
|
| 54 |
|
|
JHAVERI SECURITIES
(Sub-Broker of RAJESH JHAVERI STOCK BROKERS PVT.LTD., Member : ASE)
|
|
|
|
TUSHAR SHARADBHAI JHAVERI
PAN:AACPZ7287J
|
|
ALLEGED NOT RESPONDING TO LETTERS/SUMMONS ISSUED BY SEBI
|
IMPOSED PENALTY RS.20,000 ALONG WITH OTHER ENTITIES/PERSONS
30-APR-2005
|
|
| 55 |
|
|
JHAVERI SECURITIES
(Sub-Broker of RAJESH JHAVERI STOCK BROKERS PVT.LTD., Member : ASE)
|
|
|
|
TUSHAR SHARADBHAI JHAVERI
PAN:AACPZ7287J
|
|
DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION
|
IMPOSED PENALTY RS.2,00,000 ALONG WITH OTHER ENTITIES/PERSONS
16-MAY-2005
|
INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
SEBI VIDE ITS NOTICE DATED 02/01/2015 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 56 |
|
|
JHAVERI SECURITIES
(Sub-Broker of RAJESH JHAVERI STOCK BROKERS PVT.LTD., Member : ASE)
|
|
|
|
TUSHAR SHARADBHAI JHAVERI
PAN:AACPZ7287J
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT MAINTAIN DUPLICATE COPIES OF CONFIRMATION MEMOS
DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION
|
IMPOSED PENALTY RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS
03-AUG-2006
|
AS APPLICANT FAILED TO PAY PENALTY OF RS.1,00,000 IMPOSED VIDE ORDER DATE 03/08/2006 HENCE CERTIFICATE OF SUB-BROKER CANCELLED IMMEDIATELY ON EXPIRY OF TWENTY ONE DAYS FORM THE DATE OF THIS ORDER
INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI
|
| 57 |
|
|
KANIPURA SECURITIES
(PAN:ADMPV0337J)
(Sub-Broker of INDITRADE CAPITAL LTD., Member : NSE)
|
|
|
|
KRISHNA PRADEEPA S.V.
PAN:ADMPV0337J
|
|
TRADED ON BEHALF OF CLIENTS IN F&O SEGMENT WITHOUT APPROVAL OF AUTHORISED PERON VIOLATING CLAUSE D(C) (IV) OF CONSOLIDATED NSE CIRCULAR 001/2013 DATED 13/02/2013 IN MATTER OF INDITRADE CAPITAL LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS AND INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 15 READ WITH CLAUSES A(1) AND D(1) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB-BROKER) REGULATIONS, 1992 IN MATTER OF INDITRADE CAPITAL LTD.
|
IMPOSED PENALTY RS.50,000 ALONG WITH OTHER ENTITIES/PERSONS
28-FEB-2019
|
|
| 58 |
|
|
KANKESHWARI SECURITIES
(Sub-Broker of ACTION FINANCIAL SERVICES (INDIA) LTD., Member : BSE)
|
|
|
|
NIMESH CHITALIA
|
|
DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE WHILE DEALING WITH CLIENTS IN SCRIP OF SHUKUN CONSTRUCTION LTD.
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
AIDED AND ABETTED CLIENTS IN EXECUTING SYNCHRONIZED AND REVERSAL OF TRADE TRANSACTIONS IN SCRIP OF SHUKUN CONSTRUCTIONS LTD.
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
25-MAY-2009
SETTLEMENT ( SETTLEMENT CHARGES RS.3,00,000, LEGAL EXPENSES RS.32,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
05-JAN-2010~
|
SAT: ORDER DATED 25/05/2009 DISPOSED OFF. AS APPLICANT AGREED TO PAY RS.3,00,000 TOWARDS AO PENALTY AND RS.32,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 59 |
|
|
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
|
| 60 |
|
|
KOTHARI INVESTMENT & STOCK BROKING SERVICES
(Sub-Broker of ISE SECURITIES & SERVICES LTD., Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
IMPOSED PENALTY RS.20,000
30-JAN-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 8
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