| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 61 |
|
GUINESS SECURITIES LTD.
(PAN:AAACG9843L)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE/MSEI)
|
|
|
|
DHARMENDRA KOTHARI
PAN:AFGPK6680M
|
|
|
KAMAL KUMAR KOTHARI
PAN:AKYPK8782D
|
|
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
FALSIFIED BOOKS AND WRONGLY REPORTED TO STOCK EXCHANGE
DID NOT MAINTAIN CONTINUOUS NETWORTH
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
DID NOT FURNISH INFORMATION/DATA TO SEBI VIOLATING OF REGULATION 21(1) OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.2,00,00,000
30-JUN-2022
|
SAT: SAT VIDE ITS ORDER DATED 19/10/2022DIRECTED RESPONDENT THREE WEEKS TO FILE REPLY FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER
SEBI VIDE ITS NOTICE DATED 07/05/2024 DIRECTED TO PAY RS.2,48,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 28/05/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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
SEBI VIDE ITS NOTICE DATED 10/07/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.2,48,01,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
SAT: SAT VIDE ITS ORDER DATED 25/09/2024 DISMISSED THE APPEAL. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 11/12/2024 DISMISSED THE REVIEW APPLICATION AS WITHDRAWN
SAT: SAT VIDE ITS ORDER DATED 11/03/2025 REJECTED THE REVIEW APPLICATIONS
|
| 62 |
|
|
HARISH CHANDRA BIYANI,M/S
(Member : CSE)
|
|
|
|
HARISH CHANDRA BIYANI
|
|
VIOLATED SECTION 23 OF SECURITIES CONTRACTS (REGULATION) ACT, 1956
VIOLATED SEBI (PFUTP) REGULATIONS, 1995
VIOLATED REGULATION 4 OF SEBI (PFUTP) REGULATIONS, 1995
VIOLATED RULE 4 OF SEBI (STOCK BROKERS & SUB BROKERS) RULES, 1992
VIOLATED REGULATION 7 OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
VIOLATED SECTION 24 OF SEBI ACT, 1992
|
PROSECUTION LAUNCHED
15-MAY-2006
|
|
| 63 |
|
|
HARVIC MANAGEMENT SERVICES (INDIA) LTD.
(Member : SKSE)
|
|
|
|
HEMANG D.JANGLA
|
|
|
KALPESH K.CHAWALLA
|
|
ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
VIOLATED REGULATION 4 OF SEBI (PFUTP) REGULATIONS, 1995
|
PROSECUTION LAUNCHED
15-MAY-2006
|
|
| 64 |
|
|
HDFC SECURITIES LTD.
(PAN:AAACH8215R)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 65 |
|
|
HEM SECURITIES LTD.
(PAN:AABCH8005N)
(Member : BSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 66 |
|
|
HENSEX SECURITIES PVT.LTD.
(PAN:AAFCH0585B)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 67 |
|
|
HOFFLAND FINANCE LTD.
(Member : BGSE/JSE)
|
|
|
|
A.SUBBA RAO
|
|
|
BRIJ BHUSHAN SHARMA
|
|
|
BRIJ KISHORE KAPUR
|
|
|
JAGDISH NARAYAN
|
|
|
M.N.PADAM
|
|
|
NAVEEN CHANDRA PANDEY
|
|
|
NAVIN PANDEY
|
|
|
PRAMODH KAPUR
|
|
|
SURAJ PAL SHARMA
|
|
VIOLATED SECTION 26 OF SEBI ACT, 1992
VIOLATED SEBI ACT, 1992
VIOLATED SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
VIOLATED SEBI (PFUTP) REGULATIONS, 1995
VIOLATED SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
PROSECUTION LAUNCHED
15-MAY-2006
|
A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM
A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM.
DURING THE TRIAL A21 (SHRI ASHOK KUMAR KOHLI) HAD EXPIRED, THEREFORE, PROCEEDINGS QUA HIM WAS ABATED. ACCUSED NO.20 (M/S EVERGROW FINANCIAL SERVICES PVT.LTD.) AND A22 ( SHRI PRADEEP SHARMA) FACED THE TRIAL AND THEY REMAINING ACCUSED WERE DECLARED POS. THE CAPTIONED MATTER WAS POSTED BEFORE THE LD. COURT ON JULY 30, 2012 FOR PRONOUNCEME NT OF JUDGMENT. AFTER RECORDING ITS REASONS THE COURT HELD THAT SEBI COULD NOT PROVE ITS CASE AGAINST A20 AND A22 BEYOND THE SHADOW OF ALL REASONABLE DOUBTS, AND THEREBY ACQUITTED A20 AND A22
|
| 68 |
|
|
HORIZON PORTFOLIO LTD.
(PAN:AAACH2097M)
(Member : BSE/NSE)
|
|
|
DID NOT SUBMIT APPLICATION FOR PRIOR APPROVAL FROM SEBI AND STOCK EXCHANGES FOR CHANGE IN CONTROL VIOLATING REGULATION 26 (XVII) OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.2,00,000
20-SEP-2024
|
|
| 69 |
|
|
ICICI SECURITIES LTD.
(PAN:AAACI0996E)
(Member : NSE)
|
|
|
ALLEGED FAILURE IN ADHERE TO CONDITIONS UNDER MARGIN TRADING FACILITY (MTF) AGREED WITH CLIENTS
ALLEGED SOFTWARE MODULE FOR LIQUIDATION OF SHARES WAS NOT FUNCTIONAL TO SQUARE OFF SECURITIES LYING IN CLIENT UNPAID SECURITIES ACCOUNT
ALLEGED INSTEAD OF SQUARING OFF UNCONFIRMED PLEDGED SECURITIES PERTAINING TO MTF CLIENTS, KEPT SUCH SECURITIES IN CUSA ACCOUNT/TRANSFERRED SECURITIES FROM CURRENT SETTLEMENT ID TO ONE FUTURE SETTLEMENT ID IN THE POOL ACCOUNT
ALLEGED SUBMISSION OF INCORRECT DATA RELATED UNCONFIRMED PLEDGE SECURITIES UNDER MARGIN TRADING FACILITY (MTF)
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.80,46,000 VIDE CONSENT ORDER)
13-FEB-2025
|
|
| 70 |
|
|
ICICI SECURITIES LTD.
(PAN:AAACI0996E)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 71 |
|
|
IIFL SECURITIES LTD.
(PAN:AAACI7397D)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 72 |
|
|
INDIA CEMENTS INVESTMENT SERVICES LTD.
(PAN:AAACA3197M)
(Member : NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 73 |
|
|
INDIRA SECURITIES PVT.LTD.
(PAN:AABCI2772F)
(Member : NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 74 |
|
|
INDO THAI SECURITIES LTD.
(PAN:AAACI4380E)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 75 |
|
|
JAINAM BROKING LTD.
(CIN:U67120GJ2003PLC043162
PAN:AABCJ3918N)
(Member : NSE/BSE)
|
|
|
USED NON-PERMISSIBLE WORDS I.E., WEALTH/ WEALTH ADVISORY/ ADVISORY MANAGEMENT/ INVESTMENT ADVISORY/ ADVISORS WITHOUT OBTAINING REGISTRATION FROM SEBI
DID NOT KEEP EVIDENCE IN RESPECT OF ORDER PLACED BY CLIENTS
DID NOT DISPLAY CONTAINING ALL DETAILS/INFORMATION AT THE INSPECTION LOCATION
COMPLAINT REGISTER WAS MAINTAINED BY AUTHORISED PERSON
DID NOT DISPLAY REGISTRATION LETTERS ISSUED BY EXCHANGES AT INSPECTION LOCATION
DO & DON’T AND INVESTOR GRIEVANCES WERE NOT DISPLAYED AT THE INSPECTION LOCATION
DID NOT DISPLAY INVESTOR GRIEVANCES REDRESSAL MECHANISM AT INSPECTION LOCATION
DID NOT PROVIDE AUTHORISED PERSON AGREEMENT
BANK STATEMENTS WERE NOT AVAILABLE FOR VERIFICATION OF DEALINGS WITH CLIENTS
DID NOT MENTION THE DETAILS REGARDING NUMBER OF EMPLOYEES OF AUTHORIZED PERSONS AND NUMBER OF CLIENTS MAPPED TO AUTHORIZED PERSONS
DID NOT OPERATE FROM THE LOCATION REPORTED BY NOTICEE TO EXCHANGES
CTCL IDS OPERATED BY PERSONS OTHER THAN APPROVED USERS
|
IMPOSED PENALTY RS.6,00,000
29-AUG-2024
|
|
| 76 |
|
|
JAINAM BROKING LTD.
(CIN:U67120GJ2003PLC043162
PAN:AABCJ3918N)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 77 |
|
|
JHUNJHUNWALA STOCK BROKERS PVT.LTD.
(Member : BSE)
|
|
|
|
AJIT R.SANGHVI
|
|
|
ARTI R.JHUNJHUNWALA
|
|
|
MALINI A.SANGHVI
|
|
|
PARAS D.SHAH
|
|
|
RAJENDRAPASAD K.JHUNJHUNWALA
|
|
VIOLATED SECTION 13 OF SECURITIES CONTRACTS (REGULATION) ACT, 1956
VIOLATED REGULATION 4 OF SEBI (PFUTP) REGULATIONS, 1995
DEALT IN SECURITIES VIOLATING REGULATION 4 OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992
ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
|
PROSECUTION LAUNCHED
15-MAY-2006
|
DISCHARGED
|
| 78 |
|
|
JK SECURITIES PVT.LTD.
(PAN:AAACJ4979J)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 79 |
|
|
JM FINANCIAL SERVICES LTD.
(PAN:AAACJ5977A)
(Member : BSE/NSE)
|
|
|
ALLEGED ASSOCIATING WITH UNREGULATED ALGORITHMIC TRADING PLATFORMS THAT PROMISED GUARANTEED RETURNS VIOLATING SEBI CIRCULAR SEBI/HO/MIRSD/DOP/P/CIR/2022/117 DATED 02/09/2022 AND CLAUSE A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 80 |
|
|
JRK STOCK BROKING PVT.LTD.
(PAN:AABCJ8648K)
(Member : BSE/NSE)
|
|
|
DID NOT MAINTAIN CALL RECORDINGS/PROOF OF CLIENTS PLACING ORDERS THROUGH TELEPHONES
AUTHORISED PERSONS DID NOT HAVE NISM CERTIFICATION
DID NOT FIND TRADING TERMINALS OF THE AUTHORIZED PERSONS AT THE LOCATIONS AS REPORTED TO THE STOCK EXCHANGE
MAPPED MOBILE NUMBERS/EMAIL IDS TO THEIR CLIENTS EVEN THOUGH THOSE CLIENTS DID NOT FALL UNDER THE CATEGORY OF FAMILY
|
IMPOSED PENALTY RS.1,00,000
20-MAY-2025
|
|
| 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 4 of 9
|
