| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ALTIUS FINSERV PVT.LTD.
(PAN:AAACU3953D)
|
|
|
|
PAWAN BANSAL
PAN:ACFPB2226A
|
|
DID NOT ADHERE TO ELIGIBILITY CRITERIA OF BEING ‘FIT AND PROPER PERSON’ IN ACCORDANCE WITH PROVISIONS OF CLAUSE 28 OF CODE OF CONDUCT IN SCHEDULE III READ WITH REGULATION 13 OF MERCHANT BANKERS REGULATIONS
|
ANY APPLICATION OF ALTIUS FINSERV PVT.LTD. WILL NOT BE CONSIDERED BY SEBI FOR RENEWAL OF CERTIFICATE OF REGISTRATION TO ACT AS AN INTERMEDIARY IN ANY CAPACITY
17-MAR-2016
|
SAT: SAT VIDE ITS ORDER DATED 09/05/2016 GIVEN LIBERTY TO APPELLANTS TO MAKE A REPRESENTATION TO SEBI WITHIN ONE WEEK FROM THE DATE OF THIS ORDER AND IF SUCH A REPRESENTATION IS MADE WITHIN ONE WEEK FROM DATE OF THIS ORDER, DIRECTED SEBI TO CONSIDER THE REPRESENTATION AND AFTER HEARING APPELLANTS PASS AN ORDER IN ACCORDANCE WITH LAW WITHIN A PERIOD OF TWO WEEKS THEREAFTER. NO COSTS
|
| 2 |
|
|
ANAND RATHI ADVISORS LTD.
(PAN:AAACS6836P)
|
|
|
DID NOT MAKE DISCLOSURE OF ICD IN IPO OFFER DOCUMENT DR.DATSONS LAB LTD. VIOLATING REGULATION 64(1) OF SEBI (ICDR) REGULATIONS, 2009
DID NOT MAKE DISCLOSURE OF ICD IN IPO OFFER DOCUMENT DR.DATSONS LAB LTD. VIOLATING REGULATION 13 READ WITH CLAUSES 1 TO 4, 6 TO 7 AND 21 OF CODE OF CONDUCT FOR MERCHANT BANKERS SPECIFIED IN SCHEDULE III OF MERCHANT BANKERS REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000
31-JUL-2018
|
|
| 3 |
|
|
ARYAMAN FINANCIAL SERVICES LTD.
(PAN:AABCA1376P)
|
|
|
DID NOT CONDUCT INDEPENDENT DUE DILIGENCE WITH RESPECT TO DISCLOSURES MADE IN LETTER OF OFFER REGARDING EDUCATIONAL QUALIFICATIONS OF ACQUIRERS
DID NOT UPDATE CODE OF CONDUCT ADOPTED UNDER SCHEDULE B AND SCHEDULE C OF SEBI (PIT) REGULATIONS, 2015
|
IMPOSED PENALTY RS.2,00,000
31-MAY-2024
|
|
| 4 |
|
|
ARYAMAN FINANCIAL SERVICES LTD.
(PAN:AABCA1376P)
|
|
|
DID NOT ENSURE APPROPRIATE CLASSIFICATION OF PROMOTERS IN OFFER DOCUMENT/PROSPECTUS
|
IMPOSED PENALTY RS.1,00,000
29-DEC-2023
|
|
| 5 |
|
|
ARYAMAN FINANCIAL SERVICES LTD.
(PAN:AABCA1376P)
|
|
|
ALLEGED INDULGENCE IN VIOLATION OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
ALLEGED INDULGENCE IN VIOLATION OF SEBI TAKEOVER CODE, 1997
ALLEGED INDULGENCE IN VIOLATION OF SEBI (BUY-BACK OF SECURITIES) REGULATIONS, 1998
ALLEGED INDULGENCE IN VIOLATION OF SEBI ACT, 1992
ALLEGED INDULGENCE IN SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.4,00,000, ADMINISTRATION CHARGES RS.25,000 VIDE CONSENT ORDER)
02-SEP-2009
|
|
| 6 |
|
|
ARYAMAN FINANCIAL SERVICES LTD.
(PAN:AABCA1376P)
|
|
|
AIDED AND ABETTED FUND FLOW CONDUITS IN SIPHONING OFF IPO PROCEEDS OF MIDVALLEY ENTERTAINMENT LTD.
DID NOT CARRY OUT PROPER DUE DILIGENCE WITH RESPECT TO INFORMATION AND DECLARATION IN RHP/PROSPECTUS IN IPO OF MIDVALLEY ENTERTAINMENT LTD. VIOLATING REGULATION 13 READ WITH CLAUSES 4, 6 AND 7 OF SCHEDULE III OF CODE OF CONDUCT OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT CARRY OUT PROPER DUE DILIGENCE WITH RESPECT TO INFORMATION AND DECLARATION IN RHP/PROSPECTUS IN IPO OF MIDVALLEY ENTERTAINMENT LTD. VIOLATING REGULATION 64(1) OF SEBI (ICDR) REGULATIONS, 2009
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 11-MAR-2020 TO 10-JUN-2020
11-MAR-2020
|
|
| 7 |
|
|
ASHIKA CAPITAL LTD.
(PAN:AADCA4563C
CIN:U30009WB2000PLC091674)
|
|
|
DID NOT MAKE DISCLOSURE OR MADE WRONG DISCLOSURE IN RHP/PROSPECTUS VIOLATING REGULATION 60(7)(A) OF SEBI (ICDR) REGULATIONS, 2009 IN MATTER OF SUDAR INDUSTRIES LTD.
DID NOT EXERCISE DUE DILIGENCE WITH RESPECT TO DISCLOSURE MADE IN RHP/PROSPECTUS VIOLATING REGULATION 64(1) OF SEBI (ICDR) REGULATIONS, 2009 IN MATTER OF SUDAR INDUSTRIES LTD.
DID NOT CARRY OUT PROPER DUE DILIGENCE WITH RESPECT TO INFORMATION AND DECLARATION IN RHP/PROSPECTUS IN IPO OF SUDAR INDUSTRIES LTD. VIOLATING REGULATION 13 READ WITH CLAUSES 1 TO 4,6,7 AND 21 OF SCHEDULE III OF CODE OF CONDUCT OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
PROHIBITED FROM ACCEPTING FRESH/NEW CLIENTS FROM 17-MAR-2021 TO 16-JUN-2021
DIRECTED TO DISCLOSE CONTENTS OF SEBI’S DIRECTIONS ON ITS WEBSITE(S) IMMEDIATELY
17-MAR-2021
|
|
| 8 |
|
|
ASHIKA CAPITAL LTD.
(PAN:AADCA4563C
CIN:U30009WB2000PLC091674)
|
|
|
INDULGED IN SIPHONING OFF FUNDS RS.64.43 CRORES OF IPO PROCEEDS IN MATTER OF IPO OF SUDAR INDUSTRIES LTD.
DID NOT CARRY OUT PROPER DUE DILIGENCE WITH RESPECT TO INFORMATION AND DECLARATION IN RHP/PROSPECTUS IN IPO OF SUDAR INDUSTRIES LTD. VIOLATING REGULATION 13 READ WITH CLAUSES 1 TO 4,6,7 AND 21 OF SCHEDULE III OF CODE OF CONDUCT OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000
06-APR-2020
|
|
| 9 |
|
|
ATHERSTONE CAPITAL MARKETS LTD.
(PAN:AAGCA1449J)
|
|
|
DID NOT EXERCISE DUE DILIGENCE AS A SEBI REGISTERED MERCHANT BANKER AS REQUIRED UNDER REGULATIONS 64(1), 8(2) (B), (E) AND (F), 57 READ WITH CLAUSE 2 (IV) (H) (24) & (31) SPECIFIED UNDER PART A OF SCHEDULE VIII OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF INITIAL PUBLIC OFFER OF ONELIFE CAPITAL ADVISORS LTD.
DID NOT EXERCISE DUE DILIGENCE AS A SEBI REGISTERED MERCHANT BANKER AS REQUIRED UNDER REGULATION 13 OF SEBI MERCHANT BANKING REGULATION READ WITH CLAUSES 1 TO 4, 6, 7 AND 21 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF INITIAL PUBLIC OFFER OF ONELIFE CAPITAL ADVISORS LTD.
|
IMPOSED PENALTY RS.12,00,000
15-MAR-2018
|
|
| 10 |
|
|
AXIS BANK LTD.
(PAN:AAACU2414K)
|
|
|
DID NOT REPORT/SUBMIT TRANSACTION DETAILS TO SEBI IN RESPECT OF NINE PUBLIC ISSUE OF DEBT OF VARIOUS COMPANIES, WHEREIN IT HAD ACQUIRED THE SECURITIES VIOLATING REGULATION 27 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000
24-MAR-2022
|
|
| 11 |
|
|
AXIS CAPITAL LTD.
(PAN:AAACU8367M)
|
|
|
PROVIDED GUARANTEE/INDEMNITY TOWARDS REDEMPTION OF NON-CONVERTIBLE DEBENTURES (NCDS) OF SOJO INFOTEL PVT.LTD. IN THE GUISE OF UNDERWRITING, NOT PERMITTED TO DO UNDER EXISTING REGULATORY FRAMEWORK
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 19-SEP-2024 TILL FURTHER ORDER
19-SEP-2024
|
SEBI VIDE ITS ORDER DATED 26/11/2024 MODIFIED THE DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 19/09/2024 AS “ AXIS CAPITAL LTD. NOT TO CARRY OUT ANY TRANSACTION WHICH WOULD INVOLVE AXIS CAPITAL LTD. PROVIDING ANY CREDIT RISK COVER (AS CONTEMPLATED IN PARAGRAPH 10 OF THE INTERIM ORDER) GUARANTEE OR INDEMNITY RELATING TO PURCHASE OF PLEDGED SHARES (AS CONTEMPLATED IN PARAGRAPHS 11 AND 12 OF THE INTERIM ORDER) OR SUCH THAT IT RESULTS IN A STRUCTURED SECURED CREDIT TRANSACTION (AS CONTEMPLATED IN PARAGRAPH 18 OF THE INTERIM ORDER) IN THE DEBT SEGMENT UNTIL FURTHER ORDERS”
|
| 12 |
|
|
BASAN FINANCIAL SERVICES LTD.
|
|
|
DID NOT ADHERE TO ELIGIBILITY CRITERIA AND CONDITIONS FOR GRANT OF OR HOLDING THE CERTIFICATE OF REGISTRATION AS MERCHANT BANKER VIOLATING REGULATIONS 6(AA) AND 6(B) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT MAINTAIN RECORDS AND DOCUMENTS PERTAINING TO DUE DILIGENCE EXERCISED IN SME ISSUE OF SUBH TEX LTD. VIOLATING REGULATION 14(E) READ WITH 16 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT PROVIDE DESIRED ASSISTANCE TO SEBI INSPECTION TEAM DURING INSPECTION VIOLATING REGULATIONS 14(E) READ WITH 16, 31(1), 31)(2) & 31(4) AND CLAUSE 3, 21 AND 29 OF CODE OF CONDUCT SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 26-JUL-2021 TO 25-JAN-2022
05-JUL-2021
|
|
| 13 |
|
|
CENTRUM CAPITAL LTD.
(PAN:AAACC5099G)
|
|
|
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE VIOLATING PROVISIONS OF REGULATION 24(1) OF SEBI TAKEOVER CODE, 1997 IN MATTER OF MADHUSUDAN SECURITIES LTD.
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE VIOLATING REGULATION 13 READ WITH CLAUSES 1 TO 4 AND 14 OF CODE OF CONDUCT FOR MERCHANT BANKERS SPECIFIED IN SCHEDULE II OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF MADHUSUDAN SECURITIES LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.19,76,250 VIDE CONSENT ORDER)
15-JUL-2015
|
|
| 14 |
|
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
DID NOT ENSURE ADEQUATE, ACCURATE/COMPLETE AND ALL RELEVANT MATERIAL DISCLOSURES IN IPO PROSPECTUS VIOLATING REGULATION 64(1) OF ICDR REGULATIONS IN MATTER OF RUSHIL DÉCOR LTD.
DID NOT EXERCISE DUE DILIGENCE AND VERIFY ADEQUACY OF DISCLOSURES IN IPO PROSPECTUS VIOLATING REGULATION 13 OF MERCHANT BANKERS REGULATIONS READ WITH CLAUSES 1 TO 7 AND 21 OF CODE OF CONDUCT FOR MERCHANT BANKERS SPECIFIED IN SCHEDULE III OF MERCHANT BANKERS REGULATIONS, 1992 IN MATTER OF RUSHIL DÉCOR LTD.
|
IMPOSED PENALTY RS.8,00,000
12-MAY-2017
|
SAT: APPEAL DISMISSED
|
| 15 |
|
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
DID NOT MAKE DISCLOSURE OF REFERENCE TO WEB LINK TO ENABLE INVESTORS TO MONITOR POST ISSUE PERFORMANCE OF THE ISSUES HANDLED FOR A PERIOD OF THREE YEARS FROM THE DATE OF LISTING IN PROSPECTUS OF AMRAPALI CAPITAL & FINANCE SERVICES LTD.
DID NOT MAKE DISCLOSURE OF COMPLETE AND ADEQUATE INFORMATION TO INVESTORS TO ARRIVE AT A FAIR JUDGEMENT TO INVEST IN THE ISSUE OF ACE TOURS WORLDWIDE LTD. VIOLATING CLAUSE 4, 6 & 7 OF SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
DID NOT MAKE DISCLOSURE OF COMPLETE AND ADEQUATE INFORMATION TO INVESTORS TO ARRIVE AT A FAIR JUDGEMENT TO INVEST IN THE ISSUE OF ACE TOURS WORLDWIDE LTD. VIOLATING REGULATION 57(1) OF SEBI (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2009
|
IMPOSED PENALTY RS.15,00,000
22-FEB-2017
|
SAT: SAT VIDE ITS ORDER DATED 29/03/2019 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 22/02/2017. NO COSTS
|
| 16 |
|
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
DID NOT MAINTAIN NECESSARY INFRASTRUCTURE TO CARRY OUT MERCHANT BANKING ACTIVITIES
DID NOT PAY RENEWAL FEES
DID NOT INTIMATE CHANGE IN ADDRESS AND CONTACT DETAILS TO SEBI
DID NOT SUBMIT HALF YEARLY REPORTS TO SEBI
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 21-MAR-2025
21-MAR-2025
|
|
| 17 |
|
|
CORPORATE STRATEGIC ALLIANZ LTD.
(PAN:AACCC8085A)
|
|
|
NO LONGER A FIT AND PROPER PERSON TO CONTINUE ITS ACTIVITIES AS MERCHANT BANKER VIOLATING REGULATION 9A(1)(E) READ WITH REGULATION 6(GG) OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 AND SECTION 12(1) OF SEBI ACT, 1992
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 24-AUG-2020 ONE YEAR FROM DATE OF ACTUAL RECEIPT BY SEBI
24-AUG-2020
|
SAT: SAT VIDE ITS ORDER DATED 10/08/2022 DISMISSED THE APPEAL. NO COSTS
|
| 18 |
|
|
DSP MERRILL LYNCH LTD.
(PAN:AAACD0535G)
|
|
|
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATING CLAUSE 1 OF FORM C OF SCHEDULE VI OF REGULATIONS 8(2)(B), 57(1), 57(2)(A)(II) AND 64(1) OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATIING CLAUSES 1, 4, 6, 7 AND 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
|
IMPOSED PENALTY RS.1,00,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-NOV-2014
|
SAT: SAT VIDE ITS ORDER DATED 04/10/2016 MODIFIED ITS EARLIER ORDER DATED 30/09/2016 AS “PER MAJORITY: AS PER MAJORITY DECISION, THE APPEAL IS ALLOWED AND THE IMPUGNED ORDER IS SET ASIDE WITH NO ORDER AS TO COSTS. “PER MINORITY: AS PER MINORITY DECISION, THE APPEAL IS DISMISSED AND THE IMPUGNED ORDER IS UPHELD WITH NO OTDER AS TO COTS.”
|
| 19 |
|
|
DSP MERRILL LYNCH LTD.
(PAN:AAACD0535G)
|
|
|
ALLEGED INDULGENCE IN SEBI (MERCHANT BANKER) REGULATIONS, 1992
ALLEGED VIOLATION OF VARIOUS PROVISIONS OF SEBI (DISCLOSURE & INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.30,50,000 VIDE CONSENT ORDER)
12-JAN-2010
|
|
| 20 |
|
|
EDELWEISS CAPITAL LTD.
|
|
|
ALLEGED INDULGENCE IN VIOLATION OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE WHILE CONDUCTING BUSINESS AS A MERCHANT BANKER I.E.DID NOT ADOPT INDEPENDENT PROFESSIONAL JUDGEMENTS IN VERIFYING RECORDS/VISITING PLACES OF ISSUER COMPANIES, DID NOT PROVIDE CORRECT INFORMATION AND/OR PROVIDE MISLEADING INFORMATION IN DRHP, DID NOT ENSURE ADEQUATE DISCLOSURES IN DRHP, DID NOT SUPERVISE ACTIVITIES OF SUB-SYNDICATE MEMBER, DID NOT FOLLOW PROPERLY DUE DILIGENCE IN RESPECT OF POST ISSUE ACTIVITIES OF SEVERAL ISSUER COMPANIES, DID NOT SUPERVISE ACTIVITIES OF BANKERS AND REGISTRAR TO ISSUE ETC.
ALLEGED FAILURE IN ADHERING TO SEBI DIRECTIVES IN MATTER OF PUBLIC OFFER/ANNOUNCEMENT AS SPECIFIED UNDER SEBI TAKEOVER CODE, 1997
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
11-MAY-2011
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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