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SOURCE OF INFORMATION

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 DEPOSITORY PARTICIPANT

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ALLIED FINANCIAL SERVICES PVT.LTD.

(PAN:AAACA2020K)

(Depository Participants : NSDL,Member : NSE)  
  MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS

DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

DID NOT MAINTAIN CONTINUOUS NETWORTH

DID NOT CAPTURE INCOME DETAILS OF CLIENTS

MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES

PROVIDED DISPROPORTIONATE EXPOSURE TO CLIENTS

DEALT WITH UNREGISTERED ENTITIES

PROMISED ASSURED RETURNS TO CLIENTS   		CANCELLED REGISTRATION AS STOCK BROKER FROM 17-MAY-2023

CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT

17-MAY-2023 		 
2
History of entity/person FAIRWEALTH SECURITIES LTD.

(PAN:AAACF8795N)

(Depository Participants : CDSL,Member : NSE/MSEI/BSE)  
  UNAUTHORISED OFF-MARKET TRANSACTIONS IN CLIENTS’ ACCOUNTS

TRANSFERRED CLIENTS SECURITIES TO ITS RELATED ENTITIES

MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS

MISUSED PLEDGING OF CLIENT’S SECURITIES

DID NOT ISSUE STATEMENT OF PLEDGING TO CLIENTS SECURITIES

DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES

DID NOT MAINTAIN EVIDENCE/PRE TRADE AUTHORIZATION/CONFIRMATION IN RESPECT OF ORDERS PLACED BY CLIENTS

MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS

PAID EMPLOYEES SALARY FROM CLIENTS ACCOUNT AND EXCESSIVE CASH TRANSACTIONS

DID NOT MAINTAIN BOOKS OF ACCOUNT AND OTHER DOCUMENTS

REPORTED WRONG NET WORTH TO EXCHANGE

ENGAGED IN BUSINESS OTHER THAN SECURITIES

DID NOT UPDATE CLIENTS EMAIL IDS AND MOBILE NUMBERS

PURCHASED SECURITIES IN UN-REGISTERED CLIENT CODES

PLEDGED CLIENT’S SECURITIES FROM OTHER THAN CLIENT’S ACCOUNTS

DID NOT FURNISH INFORMATION AND DID NOT COOPERATE WITH FORENSIC AUDITOR   		CANCELLED REGISTRATION AS STOCK BROKER FROM 26-JUL-2023

CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT

26-JUL-2023 		 
3
History of entity/person GUINESS SECURITIES LTD.

(PAN:AAACG9843L)

(Member : BSE/NSE,Depository Participants : CDSL/NSDL)  
  MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS

DIVERTED PROCEEDS FROM MISAPPROPRIATION OF SECURITIES TO RELATED PARTIES

MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES

INDULGED IN FALSIFICATION OF ACCOUNTS AND RECORDS

DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES

FUNDED CLIENTS HAVING DEBIT BALANCES BY PROVIDING FURTHER EXPOSURE

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT FURNISH REQUISITE INFORMATION TO SEBI   		CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT

CANCELLED REGISTRATION AS STOCK BROKER FROM 07-SEP-2023

07-SEP-2023 		 
4
History of entity/person KAYNET CAPITAL LTD.

(PAN:AABCK3032E)

(Depository Participants : CDSL,Member : BSE)  
  NO LONGER A PARTICIPANT OF ANY DEPOSITORY

NO LONGER A MEMBER OF ANY STOCK EXCHANGE   		CANCELLED REGISTRATION AS STOCK BROKER FROM 30-JAN-2023

CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT

30-JAN-2023 		 
5
History of entity/person 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 		 
6
History of entity/person UNICON SECURITIES PVT.LTD.

(CIN:U74899DL1995PTC064554
PAN:AAPFS5325P)

(Depository Participants : CDSL,Member : NSE/BSE)  
  MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT CO-OPERATE WITH SEBI IN INSPECTION   		CANCELLED REGISTRATION AS STOCK BROKER FROM 23-JUN-2021

CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT

23-JUN-2021 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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