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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: FAILED TO PAY DIVIDENDS TO SHAREHOLDERS

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

(Member : BSE/OTC/PSE)  
  ALLEGED FAILURE/DELAY IN PAYMENT OF DIVIDENDS TO CLIENTS

ALLEGED INSTALLATION OF TERMINALS AT UNAUTHORIZED PLACES

DEALT WITH UN-REGISTERED SUB-BROKERS

ALLEGED MISUTILISATION OF CLIENTS FUNDS   		REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.2,00,000 VIDE CONSENT ORDER)

16-SEP-2008 		 
2
History of entity/person JHP SECURITIES PVT.LTD.

(PAN:AAACJ2847H)

(Member : BSE)  
  DID NOT CO-OPERATE WITH SEBI IN INSPECTION

DID NOT MAINTAIN CLIENT DATABASE

DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK

DID NOT ISSUE CONTRACT NOTES IN SPECIFIED FORMAT

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES

FAILED TO PAY DIVIDENDS TO SHAREHOLDERS   		IMPOSED PENALTY RS.3,00,000

24-DEC-2010 		 
3
History of entity/person MALIRAM MAKHARIA FINSTOCK PVT.LTD.

(PAN:AACCM1102E)

(Member : BSE)  
  DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

FAILED TO PAY DIVIDENDS TO SHAREHOLDERS

DEALT WITH UN-REGISTERED SUB-BROKERS

DID NOT EXERCISE DUE SKILL AND DILIGENCE

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS   		IMPOSED PENALTY RS.2,00,000

05-SEP-2007 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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