| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ADITYA BIRLA MONEY LTD.
(PAN:AAACA7472K)
(Depository Participants : CDSL/NSDL,Member : BSE/NSE)
|
|
|
CARRIED OUT PORTFOLIO MANAGEMENT SERVICES (PMS) WITHOUT ENTERING INTO AGREEMENT WITH THE CLIENTS
MISLED CLIENTS BY UNDERSTATING LOSSES AND OVERSTATING PROFITS
LOSSES COVERED BY PREMIUM ON SALE OF OPTIONS AND SHOWN ONLY AT LATER STAGES
CHARGED DELAYED PAYMENT AND LATE PAY-IN CHARGES
DID NOT HAVE ADEQUATE SYSTEMS AND INTERNAL CONTROLS
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DELAY IN UPLOAD CLIENTS DETAILS IN CKYC SYSTEM
TRANSFERRED SECURITIES WORTH RS.5,41,502.76 FROM CLIENT DEMAT TO PRO
ACCOUNT
DID NOT HAVE DEDICATED E-MAIL ID FOR REDRESSAL OF GRIEVANCES
DID NOT ENABLE SMS ALERT FACILITY FLAG IN DEPOSITORY PARTICIPANT MODULE
ACTIVATED POWER OF ATTORNEY WITHOUT OBTAINING MOBILE NUMBER FROM CLIENT
|
IMPOSED PENALTY RS.1,02,00,000
04-OCT-2021
|
SAT: SAT VIDE ITS ORDER DATED 06/12/2021 DISPOSED OF THE STAY APPLICATION AND DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. FURTHER, DIRECTED APPELLANT TO DEPOSIT RS.50 LAC WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. THE BALANCE AMOUNT SHALL NOT BE RECOVERED DURING PENDENCY OF THE APPEAL
SAT: SAT VIDE ITS ORDER DATED 23/12/2021 DISPOSED OFF THE MATTER AND DIRECTED AO TO CONSIDER THE OBJECTIONS RAISED BY APPELLANT AT THE TIME WHEN THE MATTER FINALLY DECIDED
|
| 2 |
|
|
ANAND RATHI FINANCIAL SERVICES LTD.
(PAN:AABCA3577G)
(Depository Participants : CDSL,Member : BSE/NSE)
|
|
|
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DISCREPANCIES IN PROCESSING OF DELIVERY INSTRUCTION SLIP
DEFAULTED IN DELIVERY OF CONTRACT NOTES IN RESPECT OF BOUNCED ELECTRONIC CONTRACT NOTES
DID NOT HAVE ADEQUATE SYSTEM IN PLACE TO CHECK RECEIPT OF THIRD PARTY CHEQUES
|
IMPOSED PENALTY RS.5,00,000
30-NOV-2011
|
|
| 3 |
|
|
ANAND RATHI SHARE & STOCK BROKERS LTD.
(PAN:AAACN3405F)
(Depository Participants : NSDL,Member : BSE/NSE)
|
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DEFICIENCIES IN CLIENT DATABASE
VIOLATED CODE OF CONDUCT AS PRESCRIBED UNDER STOCK BROKER REGULATIONS
ILLEGALLY CHARGED CUSTODY CHARGES FROM CLIENTS
DIRECTOR OF STOCK BROKING FIRM ACTED AS SUB BROKER OF HIS OWN FIRM THROUGH HIS CORPORATE ENTITY
|
IMPOSED PENALTY RS.1,00,000
04-MAY-2009
|
|
| 4 |
|
|
BALANCE EQUITY BROKING (INDIA) PVT.LTD.
(PAN:AABCB6329B)
(Depository Participants : CDSL,Member : BSE/MSEI/NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
WRONG REASON FOR UPDATION FOR OFF MARKET TRANSFERS IN 2 INSTANCES
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
DID NOT UPLOAD DETAILS OF CLIENT TO STOCK EXCHANGE UNDER FUNDS AND SECURITIES MODULE OF ENHANCED SUPERVISION
DID NOT PROVIDE DATA REGARDING REGISTER OF COMMODITY, BROKERAGE, PERIODIC BANK RECONCILIATION, ORDER LOG ETC.
DID NOT MENTION SEBI REGISTRATION DETAILS ON CONTRACT NOTES AND STATEMENT OF ACCOUNT
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
|
IMPOSED PENALTY RS.17,00,000
19-MAY-2021
|
SEBI VIDE ITS NOTICE DATED 02/12/2022 DIRECTED TO PAY RS.20,41,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 20/12/2022 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.6076 OF 2020 DATED 02/12/2022
|
| 5 |
|
|
INDIABULLS SECURITIES LTD.
(PAN:AAACO0870B)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE)
|
|
|
ACCEPTED DEPOSITORY PARTICIPANT-CLIENT AGREEMENT FORM WITHOUT DATE
ACCEPTED POWER OF ATTORNEY FROM CLIENTS WITHOUT DATE AND COMPLETE DETAILS
ACCEPTED CLIENT AGREEMENTS WITHOUT WITNESS
ACCEPTED BLANK UNCROSSED OR INCOMPLETE NOMINATION FORMS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
29-MAY-2009
|
|
| 6 |
|
|
MANSUKH SECURITIES & FINANCE LTD.
(PAN:AAACM1701D)
(Member : NSE,Depository Participants : NSDL)
|
|
|
CONSIDERABLE DELAY IN DEMATERIALIZATION OF SHARES HELD BY PUBLIC SHAREHOLDERS
OPENED BENEFICIARY ACCOUNTS IMPROPERLY IN VIOLATION OF SEBI DIRECTIVES/INSTRUCTIONS/GUIDELINES
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT VERIFY SIGNATURES PROPERLY AT THE TIME OF RELEASING SECURITIES FROM ACCOUNTS
|
IMPOSED PENALTY RS.8,00,000
17-JUN-2009
|
SAT: ORDER DATED 17/06/2009 MODIFIED BY REDUCING PENALTY AMOUNT TO RS.4,00,000 FROM RS.8,00,000
|
| 7 |
|
|
MOTILAL OSWAL FINANCIAL SERVICES LTD.
(PAN:AAECM2876P)
(Depository Participants : NSDL,Member : NSE/BSE)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DISCREPANCIES IN CLIENT REGISTRATION PROCESS (KYC, KRA AND CKYCR PROCESS)
DID NOT MAINTAIN EVIDENCE/PRE TRADE AUTHORIZATION/CONFIRMATION IN RESPECT OF ORDERS PLACED BY CLIENTS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
SHORT COLLECTION OF MARGIN FROM CLIENTS IN DERIVATIVE SEGMENT
|
IMPOSED PENALTY RS.25,00,000
29-APR-2022
|
|
| 8 |
|
|
MOTILAL OSWAL SECURITIES LTD.
(PAN:AAACD3654Q)
(Depository Participants : CDSL/NSDL)
|
|
|
ALLEGED FAILURE IN ADHERE TO KNOW YOUR CLIENTS DIRECTIVES/INSTRUCTIONS/GUIDELINES WHILE OPENING 697 DEMAT ACCOUNTS WITH COMMON ADDRESSES
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,00,000 VIDE CONSENT ORDER)
06-MAY-2010
|
|
| 9 |
|
|
NORTHEAST BROKING SERVICES LTD.
(Depository Participants : CDSL/NSDL,Member : BSE/NSE)
|
|
|
ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE, AND DILIGENCE WHILE ACCEPTING DEMAND DRAFTS FROM CLIENTS RESULTING IN MISUSE OF DEMAND DRAFTS BY EMPLOYEES
ALLEGED WRONGFUL CREDIT OF PAYMENTS RECEIVED FROM ONE CLIENT TO ANOTHER CLIENT
ALLEGED FAILURE IN ENSURING DELIVERY OF WEB LOGIN IDS AND PASSWORDS TO CLIENTS RESULTING IN NON-RECEIPT OF ELECTRONIC CONTRACT NOTES BY CLIENTS
ALLEGED FAILURE IN REPORTING TO NSE REGARDING FUNDING OF CLIENTS
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.9,00,000 VIDE CONSENT ORDER)
03-FEB-2011
|
|
| 10 |
|
|
RELIGARE SECURITIES LTD.
(PAN:AAACF1952D)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE)
|
|
|
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT MAINTAIN RECORDS OF INVESTORS’ COMPLAINTS
DID NOT CONDUCT INTERNAL AUDIT OF BRANCH OPERATIONS AS PER SEBI CIRCULAR NO MIRSD/DPS-III/CIR-9/07 DATED 03/07/2007
CONDUCTED DEPOSITORY OPERATIONS WITHOUT NCFM QUALIFIED PERSONNEL AT BRANCHES
DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE IN COLLECTION OF INTRODUCERS DETAILS
DID NOT EXERCISE DUE SKILL, CARE AND DILIGENCE IN HANDLING AND PROCESSING MODIFICATION REQUESTS
DID NOT EXERCISE DUE DILIGENCE AND CARE IN PROCESSING VARIOUS FORMS AND REQUESTS SUBMITTED AT BRANCH LEVEL
|
IMPOSED PENALTY RS.2,00,000
10-NOV-2010
|
SAT: IMPUGNED ORDER SET ASIDE AND APPEAL ALLOWED
|
| 11 |
|
|
SUNCHAN SECURITIES LTD.
(PAN:AAFCS8953A)
(Depository Participants : CDSL,Member : BSE/NSE/OTC)
|
|
|
|
AJAY JANARDAN KOTWAL
|
|
|
KANCHAN MANSINGHANI
|
|
|
RIYAZ ISMAIL SHAIKH
|
|
|
SUNIL MANSINGHANI
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
FAILED TO DELIVER SHARES TO CLIENTS
DID NOT MAKE PAYMENT TO CLIENTS
DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION
SUBMITTED WRONG INFORMATION TO SEBI
FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI
DID NOT EXERCISE DUE CARE AND DILIGENCE IN CONDUCT OF ITS BUSINESS AS A BROKER
|
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 30-JAN-2009 TILL FURTHER ORDERS
DIRECTED DEPOSITORIES NOT TO GIVE EFFECT TO ANY TRANSFER OF SHARES
DIRECTED NOT TO ACT AS DEPOSITORY PARTICIPANT FROM 30-JAN-2009 TILL FURTHER ORDERS
DIRECTED BSE, NSE, OTCEI AND THEIR CLEARING HOUSES NOT TO RELEASE FUNDS OR SECURITIES
DIRECTED BSE, NSE, OTCEI AND THEIR CLEARING HOUSES TO SECURE ALL ASSETS INCLUDING REALIZATION OF BANK GUARANTEES
CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JAN-2009 TILL FURTHER ORDERS
30-JAN-2009
|
AD-INTERIM EX-PARTE ORDER DATED 30/01/2009 CONFIRMED
SEBI VIDE ORDER DATED 08/12/2010 CANCELLED CERTIFICATE OF REGISTRATION AS STOCK BROKER W.E.F. 29/12/2010
|
| 12 |
|
|
TRANSWORLD SECURITIES LTD.
(Depository Participants : NSDL,Member : NSE/BSE)
|
|
|
ALLEGED FAILURE IN ISSUANCE OF CONTRACT NOTES
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
ALLEGED FAILURE IN TAKING PROOF OF IDENTITY AND ADDRESS OF ITS CLIENTS WHILE OPENING BENEFICIARY ACCOUNTS
ALLEGED FAILURE IN MAINTENANCE OF NOMINATION REGISTER
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED FAILURE IN APPOINTMENT OF NCFM CERTIFIED PERSONS IN SOME OF ITS BRANCHES
ALLEGED DELAY IN SUBMISSION OF ANNUAL ACCOUNTS AND NETWORTH CERTIFICATE TO NSDL
ALLEGED DIRECTOR OF STOCK BROKING FIRM ACTED AS SUB BROKER OF HIS OWN FIRM THROUGH HIS CORPORATE ENTITY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.2,50,000 VIDE CONSENT ORDER)
27-MAY-2011
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
