| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ESTEE ADVISORS PVT.LTD.
(PAN:AABCE9657R)
|
|
|
ALLEGED VIOLATING REGULATIONS 15(1), 15(2A) AND 15(4) OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.14,45,000 VIDE CONSENT ORDER)
23-FEB-2018
|
|
| 2 |
|
|
FIRST GLOBAL STOCKBROKING PVT.LTD.
(PAN:AAACF0661K)
(Member : NSE)
|
|
|
|
DEVINA MEHRA
|
|
|
SHANKAR SHARMA
|
|
VIOLATED SEBI (PFUTP) REGULATIONS, 1995
VIOLATED SECTION 11 (3) OF SEBI ACT, 1992
ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
VIOLATED SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
|
PROSECUTION LAUNCHED
15-MAY-2006
|
|
| 3 |
|
|
KARVY CAPITAL LTD.
(PAN:AAACG4544N)
|
|
|
INVESTED FUNDS OF ITS PMS CLIENTS IN NCDS STRUCTURED AND FACILITATED BY ITSELF AND WITHOUT DISCLOSING ABOUT THE SAME TO ITS CLIENTS VIOLATING REGULATIONS 13, 14 AND 15(4) READ WITH CLAUSES 1 AND 3 OF SCHEDULE III AND IV OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993 IN MATTER OF NCD ISSUED BY UTKARSH SMALL FINANCE BANK LTD.
|
IMPOSED PENALTY RS.1,50,000
25-APR-2023
|
|
| 4 |
|
|
KARVY CAPITAL LTD.
(PAN:AAACG4544N)
|
|
|
|
KEDAR RAMESH DESHPANDE
PAN:AAMPD7153P
|
|
KEPT OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES OF SECURITIES AFFECTED IN A DAY
INVESTED CORPUS REDUCED BELOW RS.25 LAC
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
OUTSOURCED CORE ACTIVITIES
DID NOT OBTAIN REGISTRATION WITH CENTRAL KYC RECORDS REGISTRY (CKYCR) AND DID NOT UPLOAD KYC DATA OF CLIENTS WITH CKYCR
DID NOT MAKE DISCLOSURE OF DETAILS OF PENALTIES/PENDING LITIGATION OR PROCEEDINGS
|
IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-MAR-2023
|
|
| 5 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
|
|
|
DID NOT APPOINT QUALIFIED OR EXPERIENCED PRINCIPAL OFFICER
MADE CONTRARY PROVISIONS WITH REGARD TO PLACEMENT FEE IN DISCLOSURE DOCUMENT
DID NOT SUBMIT PORTFOLIO MANAGEMENT AGREEMENT WITH REGARD TO OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
DID NOT PROVIDE DETAILS OF PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTION OR INVESTIGATIONS FOR WHICH ACTION HAD BEEN TAKEN OR INITIATED BY ANY REGULATORY AUTHORITY
DID NOT KEEP OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES EFFECTED IN DAY
DID NOT RECTIFY DEFICIENCIES MENTIONED IN AUDITOR’S REPORT
|
SUSPENDED REGISTRATION AS PORTFOLIO MANAGER
30-NOV-2022
|
|
| 6 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
|
|
|
|
COMANDUR PARTHASARATHY
PAN:AAFPC7617L
|
|
|
VIKAS RAJPAL
PAN:BDOPR9829J
|
|
DID NOT APPOINT QUALIFIED OR EXPERIENCED PRINCIPAL OFFICER
MADE CONTRARY PROVISIONS WITH REGARD TO PLACEMENT FEE IN DISCLOSURE DOCUMENT
DID NOT SUBMIT PORTFOLIO MANAGEMENT AGREEMENT WITH REGARD TO OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
DID NOT PROVIDE DETAILS OF PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTION OR INVESTIGATIONS FOR WHICH ACTION HAD BEEN TAKEN OR INITIATED BY ANY REGULATORY AUTHORITY
DID NOT KEEP OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES EFFECTED IN DAY
DID NOT RECTIFY DEFICIENCIES MENTIONED IN AUDITOR’S REPORT
DID NOT MAINTAIN AND PROVIDE PROPER INFORMATION OF REDRESSAL OF COMPLAINTS
|
IMPOSED PENALTY RS.8,00,000
15-NOV-2022
|
|
| 7 |
|
|
KB CAPITAL MARKETS PVT.LTD.
(PAN:AABCK1174F)
|
|
|
|
KAUSHIK PODDAR
|
|
|
PRASHANT KHANDELWAL
|
|
|
RAKESH GUPTA
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT GET AUDITED PORTFOLIO ACCOUNTS OF CLIENTS BY INDEPENDENT CHARTERED ACCOUNTANT AS REQUIRED UNDER REGULATION 20 (3) OF SEBI (PORTFOLIO MANAGER) REGULATIONS),1993
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
31-DEC-2008
|
|
| 8 |
|
|
LANDMARK CAPITAL ADVISORS PVT.LTD.
(PAN:AACCL4482A)
|
|
|
|
ASHISH KUMAR JOSHI
PAN:AAFPJ2088L
|
|
|
KEDAR RAMESH DESHPANDE
PAN:AAMPD7153P
|
|
DID NOT MAINTAIN MINIMUM CORPUS OF CLIENTS TO MINIMUM REQUIREMENTS
HELD CLIENTS SECURITIES IN OWN NAME
DID NOT MAINTAIN RECORDS IN SUPPORT OF INVESTMENT TRANSACTIONS
DID NOT DEPLOY FUNDS RECEIVED FROM CLIENTS IN REASONABLE TIME
ALLOWED OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN ARM’S LENGTH RELATIONSHIP BETWEEN HANDLING ACTIVITIES AS A PORTFOLIO MANAGER AND MANAGER OF AIF
OUTSOURCED ACTIVITY OF CARRYING OUT KYC REQUIREMENTS AND DID NOT OBTAIN REGISTRATION WITH CKYC AND KRA
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
|
IMPOSED PENALTY RS.7,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-AUG-2022
|
|
| 9 |
|
|
LFS BROKING PVT.LTD.
(PAN:AACCL1007D)
(Member : NSE)
|
|
|
MISUSED REGISTRATION TO PROMOTE LFS BROKING AND PMS SERVICES AND ANOTHER UNREGISTERED ENTITY MOL COMMODITIES COLLECTED FUNDS FROM INVESTORS
|
CANCELLED REGISTRATION AS PORTFOLIO MANAGER
CANCELLED REGISTRATION AS STOCK BROKER FROM 28-JUN-2024
CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT
CANCELLED REGISTRATION AS RESEARCH ANALYST
28-JUN-2024
|
|
| 10 |
|
|
MILESTONE CAPITAL ADVISORS PVT.LTD.
(PAN:AAJCS1377C)
|
|
|
|
RUBI ARYA
PAN:AAVPA0654P
|
|
DID NOT KEEP MINIMUM INVESTMENT PER CLIENT
DID NOT APPOINT SEBI REGISTERED CUSTODIAN
DID NOT PROVIDE INFORMATION IN QUARTERLY REPORT TO CLIENTS
DID NOT CONDUCT INTERNAL AUDIT
DID NOT SUBMIT HALF-YEARLY REPORT TO SEBI REGARDING COMPLIANCE OF GUIDELINES FOR IMPROVEMENT IN CORPORATE GOVERNANCE
|
IMPOSED PENALTY RS.5,00,000
30-JUN-2023
|
|
| 11 |
|
|
P.N.VIJAY FINANCIAL SERVICES PVT.LTD.
|
|
|
ACCEPTED CLIENTS’ FUNDS AND SECURITIES DIRECTLY AND DID NOT TAKE UP ASSIGNMENT OF MANAGEMENT OF FUNDS AND PORTFOLIO OF SECUTITIES VIOLATING REGULATIONS 16(1)(A) AND 14(1)(A) OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993
DID NOT PROVIDE ADEQUATE DETAILS IN KYC DOCUMENTS AND PMS AGREEMENTS VIOLATING REGULATIONS 16(1)(A) AND 14(1)(A) OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993
DID NOT MAKE COMPLETE DISCLOSURE VIOLATING SCHEDULE V READ WITH REGULATION 14 OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993
DID NOT EXERCISE DUE DILIGENCE WHILE ENTERING INTO AGREEMENTS WITH CLIENTS VIOLATING PROVISIONS STIPULATED IN SEBI CIRCULAR NO.CIR/IMD/DF/13/2010 DATED 05/10/2010
DID NOT PROVIDE DETAILS OF FEE SCHEDULES IN AGREEMENTS WITH CLIENTS VIOLATING PROVISIONS STIPULATED IN SEBI CIRCULAR NO CIR/IMD/DF/13/2010 DATED 05/10/2010
|
IMPOSED PENALTY RS.5,00,000
28-JUN-2019
|
|
| 12 |
|
|
RELIANCE CAPITAL ASSET MANAGEMENT LTD.
(PAN:AAACR2668G)
|
|
|
ALLEGED INDULGENCE IN MAKING INADEQUATE DISCLOSURE OF INFORMATION RELATING TO MANAGEMENT OF RELATED PARTY ACCOUNTS IN DISCLOSURE DOCUMENT VIOLATING REGULATIONS 13 AND 14(2) OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993 READ WITH CLAUSES 3 AND 5 OF CODE OF CONDUCT OF SEBI (PORTFOLIO MANAGERS) REGULATION, 1993
ALLEGED HOLDING SECURITIES OF CLIENTS IN OWN ACCOUNT VIOLATING REGULATION 14 READ WITH SCHEDULE V AND REGULATION 13 READ WITH CLAUSES 3 AND 12 (A) OF CODE OF CONDUCT OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
ALLEGED PROVIDING INCOMPLETE ACCOUNT OPENING FORMS AND UNAVAILABLITY OF COMPLETE KYC DOCUMENTS FOR SOME CORPORATE ENTITIES VIOLATING REGULATION 13 READ WITH CLAUSE 3 OF CODE OF CONDUCT OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
ALLEGED NON FURNISHING OF PHYSICAL COPIES OF REPORTS CONTAINING PRESCRIBED DETAILS TO CLIENTS ON HALF YEARLY BASIS VIOLATING OF REGULATION 21 READ WITH SCHEDULE IV OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
ALLEGED NOT CONDUCTING BUSINESS WITH HIGH STANDARDS OF INTEGRITY AND FAIRNESS IN DEALING WITH CLIENTS, DID NOT RENDER HIGH STANDARDS OF SERVICE, DID NOT ENSURE PROPER CARE IN DEALING AND DID NOT HANDLE COMPLAINTS FROM CLIENTS IN PROPER AND TIMELY MANNER VIOLATING REGULATION 13 READ WITH CALUSES 1 AND 3 OF CODE OF CONDUCT ALONG WITH REGULATION 15 (6) OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.19,50,000 VIDE CONSENT ORDER)
14-JAN-2016
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
