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: REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

FORTUNE EQUITY BROKERS (INDIA) LTD.

(Member : NSE)

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J.T.POONJA

PENDING ENQUIRIES (I) IN MATTER OF NEDUNGADI BANK LTD. (II) AGAINST ASSOCIATE CO. FORTUNE FINANCIAL SERVICES (INDIA) LTD. IN MATTER OF MIRC ELECTRONICS LTD. (III) AS A BROKER OF NSE UNDER THE PROVISION OF THE SEBI (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER TO IMPOSING PENALTY, REGULATION) 2002

MONETARY PENALTY IMPOSED ON J.T.POONJA, DIRECTOR OF THE APPLICANT COMPANY

REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

17-AUG-2004

INVESTSMART COMMODITIES LTD.

(PAN:AAECM3447N)

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION AS STOCK BROKER FROM 08-JUN-2023 TO 07-SEP-2023

08-JUN-2023

SAT: SAT VIDE ITS ORDER DATED 08/08/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN TWO WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 12/07/2024 GRANTED EXTENSION OF SIX MONTHS TO COMPLETE THE ENTIRE PROCEEDINGS AND COME OUT WITH A SCHEME UNDER THE SETTLEMENT REGULATIONS

MADHAV STOCK VISION PVT.LTD.

(PAN:AABCM8845M)

(Member : NSE)

AJAY SAMPATRAJ JAIN

PAN:AABPJ0451D

JYOTISWAROOP NANDKISHORE PUROHIT

PAN:AGPPP6277R

PANKIT BHAGWATI JHAVERI

PAN:ADMPJ9270G

RAJESH BHAGWATI JHAVERI

PAN:ADTPJ3856F

RAJKUMAR PRABHU DAMANI

PAN:AECPD9155K

INDULGED IN FRONT RUNNING THE TRADES OF BIG CLIENTS VIOLATING SECTIONS 12A(A) TO 12A(C) AND 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1) AND 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003

RESTRAINED FROM BUYING, SELLING OR DEALING IN SECURITIES EITHER DIRECTLY OR INDIRECTLY IN PROPRIETARY ACCOUNT FROM 23-APR-2025 UNTIL FURTHER ORDERS

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.2,72,82,732 ALONG WITH OTHER ENTITIES/PERSONS

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 23-APR-2025 UNTIL FURTHER ORDERS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

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

DIRECTED BANKS AND DEPOSITORIES TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF COMPLYING WITH THIS ORDER

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT

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

23-APR-2025

MCI COMMODITIES

(PAN:AATFM4200F)

(Member : NSEL)

NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER

REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION AS COMMODITY DERIVATIVE BROKER

04-OCT-2023

PATEL WEALTH ADVISORS PVT.LTD.

(PAN:AAICP1902B)

(Member : NSE/BSE/MCX)

DENISH MAHESHBHAI PATEL

PAN:AJZPP8683J

KAUSHAL VASANTRAI PATEL

PAN:AFQPP9120H

MINISH MAHESHBHAI PATEL

PAN:AFQPP9233D

MITUL UMEDLAL VORA

PAN:ACNPV6291K

MANIPULATED ORDER BOOK ON BOTH BUY AND SELL SIDES ACROSS VARIOUS SCRIPS DURING THE EXAMINATION PERIOD

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.3,22,62,367 ALONG WITH OTHER ENTITIES/PERSONS

RESTRAINED FROM BUYING, SELLING OR DEALING IN SECURITIES EITHER DIRECTLY OR INDIRECTLY IN PROPRIETARY ACCOUNT FROM 28-APR-2025 UNTIL FURTHER ORDERS

DIRECTED TO OPEN FIXED DEPOSIT ACCOUNTS EITHER IN ANY NOTICEE�S NAME SO AS TO CREDIT OR DEPOSIT UNLAWFUL GAIN RS.3,22,62,367.05 WITH LIEN MARK IN FAVOUR OF SEBI AND THE AMOUNT KEPT THEREIN NOT TO BE RELEASED WITHOUT PERMISSION FROM SEBI

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

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI EXCEPT FOR THE PURPOSES OF TRANSFER OF FUNDS TO FIXED DEPOSIT ACCOUNT(S)

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

DIRECTED BANKS AND DEPOSITORIES TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT

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

28-APR-2025

PREBON YAMANE (INDIA) LTD.

(Member : NSE)

DID NOT PAY FEES TO SEBI

REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

24-JUN-2004

SAT: DIRECTED SEBI AND NSE TO CONTINUE TO GRANT "FEE CONTINUITY BENEFIT" TO APPLICANT

SAT: DIRECTED SEBI TO REFUND EXCESS AMOUNT OF FEE PAID BY APPLICANT

RRB MASTER SECURITIES DELHI LTD.

(PAN:AACCR3227P)

(Member : NSE)

(Along with : GEMINI PORTFOLIOS PVT.LTD.)

LALIT BHASIN

PAN:AFDPB2550A

SANJIV BHASIN

PAN:AAXPB9978P