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.

PERSONS: RESTRAINED FROM HOLDING ANY MANAGERIAL POSITION IN ANY LISTED COMPANY

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

ARVIND KUMAR BABHUTMALJI SHAH

(PAN:AAVPS8498K)

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ARVIND REMEDIES LTD.

PAN:AACCA7407Q

POSTED INFLATED FIGURES OF SALES AND PURCHASES OF GOODS

ADOPTED DUBIOUS AND INCONSISTENT PRACTICES IN DRAWING UP ACCOUNTS

EMPLOYED DEVICES TO DEFRAUD THE INVESTORS

WRONGFULLY EARNED RS.8.11 CRORES AS COMMISSION ON NON-EXISTENT SALES

PUBLISHED FALSE & MANIPULATED FINANCIAL STATEMENTS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF ARVIND REMEDIES LTD.

AIDED AND ABETTED PROMOTERS AND PROMOTER CONNECTED ENTITIES IN OFF-LOADING OF SHARES IN FRAUDULENT MANNER VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF ARVIND REMEDIES LTD.

DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI VIDE IT�S EARLIER ORDER

DID NOT MAKE DISCLOSUREOF CREATION AND INVOCATIONOF PLEDGE OF SHARES TO COMPANY AND STOCK EXCHANGES AS REQUIRED UNDER REGULATIONS 31(1) AND 31(2) READ WITH 31(3) OF SAST REGULATIONS, 2011 IN MATTER OF ARVIND REMEDIES LTD.

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES AS REQUIRED UNDER REGULATIONS 29(2) READ WITH 29(3) OF SAST REGULATIONS, 2011 IN MATTER OF IN MATTER OF ARVIND REMEDIES LTD.

TRADED WHILE IN POSSESSION OF UNPUBLISHED PRICE SENSITIVE INFORMATION VIOLATING SECTIONS 12A(D) TO 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 3(I) AND 4 OF SEBI (PIT) REGULATIONS, 1992 READ WITH REGULATION 12 OF SEBI (PIT) REGULATIONS, 2015 IN MATTER OF ARVIND REMEDIES LTD.

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES AS REQUIRED UNDER REGULATIONS 13(4A) READ WITH 13(5) OF SEBI (PIT) REGULATIONS, 1992 READ WITH REGULATION 12 OF SEBI (PIT) REGULATIONS, 2015 IN MATTER OF ARVIND REMEDIES LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-FEB-2017 TO 15-FEB-2025

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-FEB-2017 TO 15-FEB-2025

PERMITTED BSE AND NSE TO ALLOW SQUARE OFF EXISTING OPEN POSITIONS IN FUTURES & OPTIONS SEGMENT, IF ANY, IMMEDIATELY AND DIRECTED CONCERNED STOCK EXCHANGES TO ENSURE THAT NO FRESH POSITIONS ARE CREATED

RESTRAINED FROM HOLDING ANY MANAGERIAL POSITION IN ANY LISTED COMPANY FROM 16-FEB-2017 TO 15-FEB-2025

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY

DIRECTED TO DISGORGE RS.39,09,89,120

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI EXCEPT FOR THE PURPOSE OF TRANSFER OF FUNDS TO ESCROW ACCOUNT

DIRECTED DEPOSITORIES THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF ITS ASSETS/PROPERTIES/SECURITIES TILL SUCH TIME THE AMOUNT OF RS.8.11 CRORES CREDITED TO ESCROW ACCOUNT

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 16-FEB-2017 TO 15-FEB-2025

DIRECTED TO REMIT DISGORGED AMOUNT TO INVESTOR PROTECTION & EDUCATION FUND (IPEF)

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

16-FEB-2017

SEBI VIDE ITS ORFER DATED 24/08/2022 DIRECTED TO A) RESTRAINED FROM ACCESSING THE SECURITIES MARKET, AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES DIRECTLY OR INDIRECTLY, AND ASSOCIATING WITH SECURITIES MARKET IN ANY MANNER FOR A PERIOD OF EIGHT YEARS B) DURING PERIOD OF RESTRAINT, EXISTING HOLDING OF SECURITIES INCLUDING UNITS OF MUTUAL FUNDS TO REMAIN FROZEN C) RESTRAINED FROM HOLDING ANY POSITION OF DIRECTOR OR KEY MANAGERIAL PERSONNEL IN ANY LISTED COMPANY OR ANY INTERMEDIARY REGISTERED WITH SEBI, OR ASSOCIATING THEMSELVES WITH ANY LISTED PUBLIC COMPANY OR A PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FOR A PERIOD OF EIGHT YEARS D) DIRECTED TO DISGORGE THE AMOUNT OF WRONGFUL GAINS RS.39,09,89,120.00 ALONG WITH INTEREST @8% P.A. FROM JUNE, 2016 TILL THE DATE OF ACTUAL PAYMENT. IN ADDITION TO DISGORGE THE AMOUNT OF INR 4.7 CRORE FOR WRONGFULLY EARNED MANAGERIAL COMMISSION ON MANIPULATED SALES OF ARVIND REMEDIES LTD., ALONG WITH INTEREST @ 8% P.A. FROM 16/02/2017 TILL THE DATE OF ACTUAL PAYMENT E) DISGORGEMENT AMOUNTS ALONG WITH INTEREST SHALL BE PAID THROUGH BY WAY OF DEMAND DRAFT IN FAVOUR OF �SEBI�INVESTOR PROTECTION AND EDUCATION FUND� F) NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS INCLUDING MONEY LYING IN BANK ACCOUNTS EXCEPT WITH PRIOR PERMISSION OF SEBI. FOR PURPOSE OF REFUND G) NO DEBITS ARE MADE IN THE BANK ACCOUNTS HELD JOINTLY OR SEVERALLY H) PROVIDE UPDATED LIST OF INVENTORY OF ALL ASSETS WHETHER MOVABLE OR IMMOVABLE OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS INCLUDING DETAILS OF BANK ACCOUNTS, DEMAT ACCOUNTS AND MUTUAL FUND INVESTMENTS AS ON THE DATE OF THIS ORDER

ASHOK CAPOOR

(PAN:AAKPC0254G)

INDULGED IN DIVERSION OF FUNDS FROM UNITED SPIRITS LTD. TO VARIOUS COMPANIES/ENTITIES OF UB GROUP INCLUDING KINGFISHER AIRLINES LTD. VIOLATING SECTION 12A(C) OF SEBI ACT, 1992 IN MATTER OF UNITED SPIRITS LTD.

INDULGED IN DIVERSION OF FUNDS FROM UNITED SPIRITS LTD. TO VARIOUS COMPANIES/ENTITIES OF UB GROUP INCLUDING KINGFISHER AIRLINES LTD. VIOLATING REGULATIONS 3(D), 4(1) ALONGWITH 4(2)(E), (F) AND (K) OF SEBI (PROHIBITION OF FRAUDULENT AND UNFAIR TRADE PRACTICES) REGULATIONS, 2003 IN MATTER OF UNITED SPIRITS LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 01-JUN-2018 TO 31-MAY-2019

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 01-JUN-2018 TO 31-MAY-2019

RESTRAINED FROM HOLDING ANY MANAGERIAL POSITION IN ANY LISTED COMPANY FROM 01-JUN-2018 TO 31-MAY-2019

25-JAN-2017

SEBI VIDE ITS ORDER DATED 01/06/2018 DIRECTED MR ASHOK CAPOOR TO A) CONTINUE TO BE RESTRAINED FROM ACCESSING SECURITIES MARKET AND PROHIBITED FROM BUYING OR OTHERWISE DEALING IN SECURITIES IN ANY MANNER WHATSOEVER, EITHER DIRECTLY OR INDIRECTLY, FOR A FURTHER PERIOD OF 1 YEAR FROM DATE OF THIS ORDER AND B) RESTRAINED FROM HOLDING POSITION AS DIRECTOR OR KEY MANAGERIAL PERSON OF A LISTED COMPANY FOR A PERIOD OF 1 YEAR FROM DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 29/08/2018 ACCEPTED APPEAL TO RESTORE AND APPEAL IS RESTORED TO ITS FILE. NO COSTS

AVADHOOT L.SHILOTRI

INDULGED IN DECLARING FALSE/MISLEADING ACCOUNT STATEMENT OF NISHKALP INVESTMENT & TRADING CO.LTD. IN THE RIGHTS ISSUE DOCUMENT (LETTER OF OFER) OF TATA FINANCE LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 21-JUN-2016 TO 20-JUN-2019

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 21-JUN-2016 TO 20-JUN-2019

RESTRAINED FROM HOLDING ANY MANAGERIAL POSITION IN ANY LISTED COMPANY FROM 21-JUN-2016 TO 20-JUN-2019

21-JUN-2016

SAT: SAT VIDE ITS ORDER DATED 30/05/2018 ALLOWED THE APPEALS BY QUASHING DIRECTIONS ISSUED BY SEBI VIDE ITS ORDER DATED 21/06/2016

SAT: SAT VIDE ITS ORDER DATED 09/07/2018 CONDONED THE DELAY OF 2 DAYS IN FILING OF REVIEW APPLICATIONS

DILIP S.PENDSE

INDULGED IN DECLARING FALSE/MISLEADING ACCOUNT STATEMENT OF NISHKALP INVESTMENT & TRADING CO.LTD. IN THE RIGHTS ISSUE DOCUMENT (LETTER OF OFER) OF TATA FINANCE LTD.

SAT: SAT VIDE ITS ORDER DATED 06/02/2017 ALLOWED APPEAL TO BE WITHDRAWN WITH LIBERTY TO FILE FRESH APPEAL WITHIN TWO WEEKS FROM THE DATE OF THIS ORDER. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 29/08/2017 DISPOSED OFF THE APPEAL. AS COUNSEL FOR THE APPELLANT STATED THAT THE APPELLANT HAS DIED DURING PENDENCY OF THE APPEAL. AS A RESULT PROCEEDINGS QUA THE APPELLANT STANDS ABATED. NO COSTS

P.A.MURALI

(PAN:ADBPM6778K)