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.

MERCHANT BANKERS: SUSPENDED REGISTRATION AS MERCHANT BANKER

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

ROCKLAND LEASING LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUE OF PASUPATI FABRICS LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUE OF ELQUE POLYSTERS LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUE OF BSM KNIT FAB INDIA LTD.

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 13-APR-1999 TO 15-OCT-1999

13-APR-1999

RUBICON SECURITIES PVT.LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 13-AUG-1998 TILL THE REMAINING PERIOD OF REGISTRATION

19-AUG-1998

RUCHI INFRASTRUCTURE LTD.

DID NOT EXERCISE DUE CARE AND DILIGENCE

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 31-DEC-1997 TO 30-MAR-1998

19-DEC-1997

SAJJAN KANODIA & CO.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 10-JUN-1998

15-JUN-1998

SARALYA FINANCIAL SERVICES LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 23-JUL-1998

27-JUL-1998

SHRIYAM BROKING INTERMEDIARY LTD.

DID NOT EXERCISE INDEPENDENT PROFESSIONAL JUDGMENT IN ENSURING THAT ISSUER RECAST ITS ACCOUNTS

DID NOT EXERCISE DUE DILIGENCE TO ENSURE THAT REGISTRAR DELIVERS SHARE CERTIFICATES TO ALLOTTEES BY REGISTERED POST

FACILITATED CONCENTRATION OF HUGE HOLDING WITH THE PROMOTERS/DIRECTORS AND CREATED CONDITIONS FOR PRICE RIGGING IN SCRIP OF HOME TRADE LTD.

DID NOT ENSURE THAT BASIS OF ALLOTMENT WAS DONE IN FAIR AND EQUITABLE MANNER BY ALLOTTING SHARES TO SANJAY AGGARWAL, N.S.TRIVEDI, KETAN SHETH AND SUBODH BHANDARI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 26-NOV-2003 TO 25-JAN-2004

05-NOV-2003

SPA CAPITAL ADVISORS LTD.

DEFAULTED OF INR 24.19 CRORE AND DECLARED AS WILFUL DEFAULTER BY LAKSHMI VILAS BANK LTD. (NOW DBS BANK INDIA LTD.)

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 24-AUG-2022 TILL OBTAINS CERTIFICATE FROM LAKSHMI VILLAS BANK

DIRECTED NOT TO TAKE UP ANY NEW ASSIGNMENT OF MERCHANT BANKER IN SECURITIES MARKET FROM 24-AUG-2022 TILL OBTAINS CERTIFICATE FROM LAKSHMI VILLAS BANK

24-AUG-2022

TAMILNADU FINANCE LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998 TO 31-OCT-1998

09-SEP-1998

TDS SECURITIES LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-JUN-1998

10-JUN-1998

TEDCO INVESTMENT & FINANCIAL SERVICES PVT.LTD.

DID NOT PAY FEES TO SEBI