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: CANCELLED REGISTRATION AS STOCK BROKER

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

AVONSKI SECURITIES LTD.

(Member : NSE)

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 03-SEP-2004

03-SEP-2004

B N RATHI COMTRADE PVT.LTD.

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

CANCELLED REGISTRATION AS STOCK BROKER FROM 31-JAN-2023

31-JAN-2023

SAT: SAT VIDE ITS ORDER DATED 18/05/2023 ALLOWED RESPONDENT FURTHER TWO WEEKS TO FILE REPLY AND REJOINDER TO BE FILED ON 21/06/2023. INTERIM RELIEF TO CONTINUE TILL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 08/08/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN TWO WEEKS THEREAFTER

B.N.MEHTA & CO.

(Member : VSE)

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B.N.MEHTA

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 22-OCT-2002

22-OCT-2002

B.R.MURALIDHAR,M/S

(Member : BGSE)

B.R.MURALIDHAR

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 10-APR-2002

10-APR-2002

B.SIVASANKARAN NAIR,M/S

(Member : COCSE)

B.SIVASANKARAN NAIR

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 27-AUG-2004

27-AUG-2004

BABOOLAL BHALOTIA,M/S

(Member : CSE)

BABOOLAL BHALOTIA

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 27-AUG-2004

27-AUG-2004

BABU EAPEN & CO.

(Member : COCSE)

BABU E.VETTOOR

DECLARED DEFAULTER BY THE EXCHANGE AND EXPELLED

DID NOT ADHERE TO THE PROVISION OF SEBI ACT, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 16-FEB-2005

16-FEB-2005

BAHUBALI COMMODITY SERVICES PVT.LTD.

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

CANCELLED REGISTRATION AS STOCK BROKER FROM 13-JUL-2023

13-JUL-2023

SAT: SAT VIDE ITS ORDER DATED 05/09/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN TWO WEEKS AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE. STAYED EFFECT AND OPERATION OF IMPUGNED ORDER TILL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 30/10/2023 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

BAJRANGLAL MAHABIRPRASAD,M/S

(Member : CSE)

BAJRANGLAL MAHABIRPRASAD

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 27-AUG-2004

27-AUG-2004

BALAJI COMMODITY FUTURES PVT.LTD.

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

CANCELLED REGISTRATION AS STOCK BROKER FROM 10-FEB-2023

10-FEB-2023

SAT: SAT VIDE ITS ORDER DATED 21/04/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE

SAT: SAT VIDE ITS ORDER DATED 18/05/2023 ALLOWED RESPONDENT FURTHER TWO WEEKS TO FILE REPLY AND REJOINDER TO BE FILED ON 21/06/2023. INTERIM RELIEF TO CONTINUE TILL FURTHER ORDERS

BALJIT METALS PVT.LTD.

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

CANCELLED REGISTRATION AS STOCK BROKER FROM 05-SEP-2023

05-SEP-2023

SAT: SAT VIDE ITS ORDER DATED 21/11/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER

SAT: SAT VIDE ITS ORDER DATED 06/12/2023 CONDONED THE DELAY IN FILING OF REPLY AND REPLY AND REJOINDER TAKEN ON RECORD. EXEMPTION APPLICATIONS, IF ANY ALLOWED

BALSHIA SECURITIES LTD.

(Member : NSE)

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 03-SEP-2004

03-SEP-2004

BALSHIA SECURITIES LTD.

(Member : OTC)

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 22-OCT-2002

22-OCT-2002

BAMA SECURITIES LTD.

(Member : NSE)

DILIP M.BANG

KISHORE M.BANG

NIRMAL BANG

INDULGED IN LARGE TRADING TRANSACTIONS WITH A VIEW TO DEPRESS MARKET ARTIFICIALLY IN A CONCERTED MANNER

INDULGED IN SHORT SALES

INDULGED IN SYNCHRONIZED DEALS

TRADED IN PARTICULAR TIME SLOTS WHEN SHARE PRICES REGISTERED SUBSTANTIAL FALL

DEALT WITH UN-REGISTERED SUB-BROKERS

VIOLATED SEBI CODE OF CONDUCT

CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JUL-2002

30-JUL-2002

SAT: OPERATION OF ORDER CANCELLING REGISTRATION GRANTED TO APPELLANTS STAYED FOR 10 WEEKS AND RESPONDENT WILL FILE REPLY WITHIN 3 WEEKS FROM ORDER DATE

SAT: PART OF ORDER I.E.CANCELLING CERTIFICATE OF REGISTRATION OF BANG SECURITIES PVT.LTD. SET ASIDE AND APPEAL DISPOSED OF

BANG EQUITY BROKING PVT.LTD.

(Member : BSE)

DILIP M.BANG

KISHORE M.BANG

NIRMAL BANG

CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JUL-2002

30-JUL-2002

BANKA BULLIONS PVT.LTD.

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

CANCELLED REGISTRATION AS STOCK BROKER FROM 29-OCT-2021

29-OCT-2021

BANSAL SHAREVEST SERVICES LTD.

(Member : NSE/UPSE)

SONU AGARWAL

EXECUTED SINGLE TRADES AT EXCHANGE TO ASCERTAIN PRICES FOR EXECUTING BULK ORDERS ILLEGALLY OUTSIDE THE EXCHANGE MECHANISM

OFFERED ILLEGAL TRADING FACILITIES

ISSUED ADVERTISEMENTS RELATING TO BUSINESS IN VIOLATION OF CODE OF CONDUCT

ALLOWED TERMINALS TO UNREGISTERED SUB-BROKERS

INSTALLED UNAUTHORIZED TRADING TERMINALS IN EXCESS OF NSE ALLOTTED TERMINALS

DEALT WITH UN-REGISTERED SUB-BROKERS

ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION

DID NOT ISSUE CONTRACT NOTES

DID NOT MAINTAIN CLIENT REGISTRATION FORMS

NON-COOPERATION WITH SEBI IN INVESTIGATIONS

DID NOT COLLECT UPFRONT MARGINS

DEFAULTED IN DEPOSITING MARGIN AMOUNT WITH THE EXCHANGE

CANCELLED REGISTRATION AS STOCK BROKER FROM 23-JUL-2003 TO 22-JUL-2008

28-JUN-2006

SETTLEMENT ( SETTLEMENT CHARGES RS.50,00,000, LEGAL EXPENSES RS.2,50,000 VIDE CONSENT ORDER)

REACHED SETTLEMENT (CONSENT ORDER) (AGREED VOLUNTARILY TO BE SUSPENDE

SAT: APPLICANT AGREED TO PAY A SUM OF RS.50,00,000 TOWARDS SETTLEMENT CHARGES AND RS.2,50,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER DATED 09/06/2008 AND VOLUNTARILY UNDERTAKEN TO REMAIN SUSPENDED FOR A PERIOD OF 5 YEARS COMMENCING FROM 23/07/2003. ORDER DATED 28/06/2006 SET ASIDE

BANSIDHAR HARISHCHAND GARG,M/S

(Member : MPSE)

BANSIDHAR HARISHCHAND GARG

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 27-AUG-2004

27-AUG-2004

BANSIWALA INVESTMENTS PVT.LTD.

(Member : UPSE)

DID NOT ADHERE TO SEBI (COLLECTIVE INVESTMENT SCHEMES) REGULATION, 1992

CANCELLED REGISTRATION AS STOCK BROKER FROM 29-SEP-2004

29-SEP-2004

100

BAYSWATER INVESTMENT & TRADING PVT.LTD.

(Member : OTC)

DID NOT PAY FEES TO SEBI

DECLARED DEFAULTER BY THE EXCHANGE AND EXPELLED