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SOURCE OF INFORMATION

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: INDULGED IN UNAUTHORISED CARRY FORWARD TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
61
History of entity/person 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 		 
62
History of entity/person KETAN SHAH & CO.

(Member : VSE)  
Click here to view complete history of this specific entity/person KETAN SHAH
  		DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

22-OCT-1999 		 
63
History of entity/person KHEM KAUR GANDHI,M/S

(Member : LSE)

(Along with : K.K.CAPSEC PVT.LTD.)  
Click here to view complete history of this specific entity/person KHEM KAUR GANDHI
  		DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DID NOT PAY FEES TO SEBI   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-SEP-1998 TO 06-DEC-1998

31-AUG-1998 		 
64
History of entity/person KIRIT SHAH SECURITIES PVT.LTD.

(Member : ASE)  
  DEFICIENCIES IN CLIENT DATABASE

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

INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-OCT-1999 TO 10-JAN-2000

05-OCT-1999 		 
65
History of entity/person KISHORE BASKARAN & CO.

(Member : CMBSE)  
  DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS

DID NOT ISSUE CONTRACT NOTES

INDULGED IN OFF-THE-FLOOR TRANSACTIONS

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DID NOT REDRESS INVESTOR COMPLAINTS   		CANCELLED REGISTRATION AS STOCK BROKER FROM 26-FEB-1998

04-MAR-1998 		 
66
History of entity/person KISHORKUMAR L.KADVANI,M/S

(Member : SKSE)  
Click here to view complete history of this specific entity/person KISHORKUMAR L.KADVANI
  		DID NOT ISSUE CONTRACT NOTES

DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK

INDULGED IN GALA TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-FEB-1999 TO 11-AUG-1999

05-FEB-1999 		 
67
History of entity/person KUNAL SECURITIES PVT.LTD.

(Member : PSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   SUSPENDED REGISTRATION AS STOCK BROKER FROM 01-SEP-1997 TO 30-NOV-1997

13-AUG-1997 		 
68
History of entity/person KUNVARJI FINSTOCK LTD.

(Member : ASE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 16-AUG-1999 TO 15-OCT-1999

13-AUG-1999 		 
69
History of entity/person LOKNATH SARAF,M/S

(Member : CSE)  
Click here to view complete history of this specific entity/person LOKNATH SARAF
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-DEC-1997 TO 11-MAR-1998

12-DEC-1997 		 
70
History of entity/person M.L.BOTHRA & CO.

(Member : UPSE)  
Click here to view complete history of this specific entity/person MANGI LAL BOTHRA
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-FEB-1999 TO 01-APR-1999

29-JAN-1999 		 
71
History of entity/person MAHIPAT RAICHAND SHAH,M/S

(Member : ASE)  
Click here to view complete history of this specific entity/person MAHIPAT RAICHAND SHAH
  		DEFAULTED IN MAINTENANCE OF MARGIN REGISTER

DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS

DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER

SUBMITTED WRONG INFORMATION TO SEBI

DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER

COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

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

EXECUTED FICTITIOUS TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 06-AUG-2001 TO 05-OCT-2001

03-AUG-2001 		 
72
History of entity/person MAKBAN FINANCE PVT.LTD.

(Member : LSE)  
  DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

22-OCT-1999 		 
73
History of entity/person MAMTA INVESTORS

(Member : UPSE)  
Click here to view complete history of this specific entity/person SANJEEV KUMAR TIWARI
  		DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-DEC-1998 TO 07-MAR-1999

04-DEC-1998 		 
74
History of entity/person MANGAL K.JAIN,M/S

(Member : PSE)  
Click here to view complete history of this specific entity/person MANGAL K.JAIN
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   CANCELLED REGISTRATION AS STOCK BROKER FROM 01-SEP-1997

13-AUG-1997 		 
75
History of entity/person MAY FAIR INVESTMENT & CONSULTANCY SERVICES

(Member : PSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   SUSPENDED REGISTRATION AS STOCK BROKER FROM 01-SEP-1997 TO 30-NOV-1997

13-AUG-1997 		 
76
History of entity/person MAYANK GOEL,M/S

(Member : UPSE)  
Click here to view complete history of this specific entity/person MAYANK GOEL
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-MAR-2005 TO 10-MAR-2006

18-FEB-2005 		 
77
History of entity/person MAYUR INVESTMENTS

(Member : PSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

13-AUG-1997 		 
78
History of entity/person MERIDIAN SHARES & SERVICES PVT.LTD.

(PAN:AABCM3154F)

(Along with : DINESH BABULAL JAIN,M/S)  
Click here to view complete history of this specific entity/person DINESH BABULAL JAIN
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DID NOT ISSUE CONTRACT NOTES   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 05-NOV-1999 TO 04-FEB-2000

28-OCT-1999 		 
79
History of entity/person MITRA OPTIONS & SHARE BROKERS LTD.

(Member : NSE)  
  DEFAULTED IN MAINTENANCE OF SAUDA BOOK

DEALT WITH UN-REGISTERED SUB-BROKERS

ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION

COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES

DID NOT ISSUANCE OF CONTRACT NOTES IN TIME

DID NOT OBTAIN ACKNOWLEDGEMENT FROM CLIENTS

PAN NO. OF CLIENTS NOT APPEARING ON CONTRACT NOTES

DELIVERY MEMOS NOT SIGNED BY AUTHORISED SIGNATORY/BROKER

DEFAULTED IN MAINTENANCE OF SECURITIES REGISTER

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

TRANSFERRED FUNDS FROM ACCOUNT OF ONE EXCHANGE TO OTHER EXCHANGE

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

PAYMENTS MADE TO CLIENTS FROM BROKERS OWN ACCOUNTS

ACCEPTED/MADE PAYMENTS FROM/TO THIRD PARTIES ON CLIENT ACCOUNTS WITHOUT OBTAINING WRITTEN CONSENT OF CLIENTS

DID NOT MAINTAIN CLIENT REGISTRATION FORMS

DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT

RELEASED PLEDGED SHARES KEPT FOR MARGIN PURPOSE

OPENED SEVERAL PROPRIETARY ACCOUNTS TO FACILITATE TRANSACTION OF SECURITIES IN INTER-SE ACCOUNTS

TRANSFERRED SECURITIES FROM CLIENT'S ACCOUNT TO BENEFICIARY ACCOUNT OF OTHER BROKERS WITHOUT OBTAINING WRITTEN CONSENT OF CLIENTS

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

INDULGED IN INDIRECT FUNDING TO CLIENTS

HELD SECURITIES IN POOL ACCOUNT DESPITE HAVING ANY DEBIT BALANCE OF CLIENTS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 23-NOV-2006 TO 22-FEB-2007

02-NOV-2006 		 
80
History of entity/person MOHAN & CO.

(Member : UPSE)  
Click here to view complete history of this specific entity/person KRISHAN MOHAN SHUKLA
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS   SUSPENDED REGISTRATION AS STOCK BROKER FROM 09-MAR-1999 TO 08-MAY-1999

26-FEB-1999 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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