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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: DEFICIENCIES/IRREGULARITIES REGARDING EXPOSURE/TURNOVER LIMITS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person BGSE FINANCIALS LTD.

(Member : BSE/NSE)  
  DEALT WITH UN-REGISTERED SUB-BROKERS

DID NOT FURNISH AUDITOR'S CERTIFICATE ON QUARTERLY BASIS REGARDING COLLECTION OF MINIMUM MARGIN FROM CLIENTS

CONTRACT NOTES NOT SIGNED BY AUTHORISED REPRESENTATIVES

PERMITTED TURNOVER LIMITS ABOVE THE LIMITS PRESCRIBED BY BSE AND NSE

PERMITTED USE OF BMC DEPOSITED WITH THE PROMOTING STOCK EXCHANGE FOR FIXING GROSS EXPOSURE LIMIT AND TURNOVER LIMIT   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

24-JAN-2006 		 
2
History of entity/person ESHA SECURITIES LTD.

(CIN:U99999DL1994PLC059396
PAN:AAACE2862P)

(Member : DSE)  
  DEFICIENCIES IN CLIENT DATABASE

DID NOT MAINTAIN CLIENT AGREEMENTS

DID NOT MAINTAIN CLIENT REGISTRATION FORMS

ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE

DID NOT COLLECT MARGINS FROM CLIENTS

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES

DID NOT AFFIX STAMPS ON CONTRACT NOTES

DID NOT ISSUANCE OF CONTRACT NOTES IN TIME

DID NOT SUBMIT COPIES OF CONTRACT NOTES FOR INSPECTION

DID NOT MAINTAIN DESPATCH RECORDS

DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

DEALT WITH UN-REGISTERED SUB-BROKERS

ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION

DID NOT APPOINT COMPLIANCE OFFICER

DELAYED SUBMISSION OF BROKER'S DATABASE TO INSPECTING AUTHORITY

EXECUTED TRADES IN FICTITIOUS NAMES

DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN THE CONSTITUTION OF BOARD OF DIRECTORS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

EXCEEDED PERMISSIBLE TURNOVER LIMITS AT STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 20-JUN-2006 TO 19-DEC-2006

30-MAY-2006 		 
3
History of entity/person MPSE SECURITIES LTD.

(Member : BSE)  
  ACCEPTED SHARES INSTEAD OF CASH TOWARDS MARGIN DEPOSIT/BMC/ADDITIONAL CAPITAL

DID NOT MAINTAIN BMC IN PRESCRIBED FORM

PERMITTED TRADING TO SUB-BROKERS WITHOUT COLLECTING BMC

PERMITTED HIGHER EXPOSURE LIMITS TO SUB-BROKERS ACROSS ROLLING SETTLEMENTS

DEFICIENCIES IN SYSTEMS DESIGNED TO PREVENT BREACH OF EXPOSURE LIMITS ALLOWED TO SUB-BROKERS

DID NOT PROVIDE SYSTEM LOG FOR TRADING AND EXPOSURE LIMITS ALLOWED TO SUB BROKERS

DID NOT HAVE ANY SYSTEM-GENERATED ALERTS FOR SUB-BROKERS TRADING LEVELS BEFORE DEACTIVATION OF TERMINALS

DID NOT ALLOW EXEMPTION IN VALUE AT RISK MARGINS DUE TO EARLY PAY-IN OF SECURITIES

DID NOT HAVE ANY SYSTEM OF RECORDING ADVANCE DELIVERIES INCLUDING VERIFICATION OF AUTHORIZED PERSONNEL FOR ENHANCING EXPOSURE LIMITS   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

02-FEB-2006 		 
4
History of entity/person SKSE SECURITIES LTD.

(PAN:AAFCS1539J)

(Member : BSE/NSE)  
  DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES

PERMITTED HIGH EXPOSURE WITHOUT RENEWAL OF BANK GUARANTEE

ENHANCED TURNOVER LIMITS AND HIGH EXPOSURE LIMIT

DID NOT FOLLOW EARLY PAY-IN INSTRUCTIONS OF SEBI

DEALT WITH UN-REGISTERED SUB-BROKERS

ALLOWED SUB-BROKER TO TRADE DURING SUSPENDED PERIOD   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

26-FEB-2008 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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