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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: MISUSED EXCHANGE MECHANISM FOR GUARANTEEING PAYMENT IN OFF-THE-MARKET TRANSACTIONS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ABS SHARE & STOCK BROKERS LTD.

(CIN:U67120DL1996PLC079429)

(Member : DSE)  
  DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

DEALT WITH UN-REGISTERED SUB-BROKERS

DID NOT DELIVER SECURITIES TO CLIENTS IN TIME

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT MAINTAIN SEPARATE CLIENT ACCOUNT

DID NOT RECTIFY BAD DELIVERIES IN TIME

MISUTILIZED EXCHANGE MECHANISM FOR SECURING PAYMENT   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 06-JUL-1998 TO 05-AUG-1998

26-JUN-1998 		 
2
History of entity/person ARUN GOEL & CO.

(Member : UPSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 09-FEB-1999 TO 08-MAY-1999

05-FEB-1999 		 
3
History of entity/person BIMAL KUMAR JALAN,M/S

(Member : UPSE)  
Click here to view complete history of this specific entity/person BIMAL KUMAR JALAN
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE

DID NOT REPORT PRINCIPAL-TO-PRINCIPAL TRANSACTIONS TO THE EXCHANGE

DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-FEB-2000 TO 07-APR-2000

02-FEB-2000 		 
4
History of entity/person C.M.SETHI

(Member : UPSE)  
Click here to view complete history of this specific entity/person MANJEET SINGH SETHI
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 27-JAN-1999 TO 26-MAR-1999

21-JAN-1999 		 
5
History of entity/person CFL SECURITIES LTD.

(PAN:AAACC6722E)

(Member : NSE)  
Click here to view complete history of this specific entity/person MILAN DALAL
  		EXECUTED MATCHED/STRUCTURED TRADES WITH DGP SECURITIES LTD.

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS

CREATED ARTIFICIAL MARKETS IN SCRIP OF ROOFIT INDUSTRIES LTD.   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-NOV-2004 TO 07-JAN-2005

18-OCT-2004 		 
6
History of entity/person DGP SECURITIES LTD.

(PAN:AABCS4946F)

(Member : NSE)  
  CREATED ARTIFICIAL MARKETS IN SCRIP OF ROOFIT INDUSTRIES LTD.

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS

DID NOT EXERCISE DUE CARE AND DILIGENCE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-NOV-2004 TO 07-JAN-2005

18-OCT-2004 		SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF SUSPENSION FROM 2 MONTHS TO 1 MONTH W.E.F. 28TH AUGUST, 2006  
7
History of entity/person H.NYALCHAND FINANCIAL SERVICES LTD.

(Member : ASE)  
  DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

25-FEB-2000 		 
8
History of entity/person M.L.BOTHRA & CO.

(Member : UPSE)  
Click here to view complete history of this specific entity/person MANGI LAL BOTHRA
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-FEB-1999 TO 01-APR-1999

29-JAN-1999 		 
9
History of entity/person M.M.BROKERS PVT.LTD.

(Along with : RAJAN MAHESHWARI,M/S)  
Click here to view complete history of this specific entity/person RAJAN MAHESHWARI
  		DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION

DEFAULTED IN MAINTENANCE OF SAUDA BOOK

DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER

DID NOT ISSUE CONTRACT NOTES

DEALT WITH UN-REGISTERED SUB-BROKERS

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

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-JUL-1999 TO 01-AUG-1999

06-JUL-1999 		 
10
History of entity/person NIKHIL SECURITIES LTD.

(PAN:AAACN6532F)

(Member : UPSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE

DEALT WITH UN-REGISTERED SUB-BROKERS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 12-JAN-1999 TO 11-APR-1999

05-JAN-1999 		 
11
History of entity/person PRADEEP BAHETI,M/S

(Member : JSE)  
Click here to view complete history of this specific entity/person PRADEEP BAHETI
  		DID NOT ISSUE CONTRACT NOTES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

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

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 05-AUG-1999 TO 04-OCT-1999

28-JUL-1999 		 
12
History of entity/person RAJAN MAHESHWARI,M/S

(Member : JSE)

(Along with : M.M.BROKERS PVT.LTD.)  
Click here to view complete history of this specific entity/person RAJAN MAHESHWARI
  		DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION

DEFAULTED IN MAINTENANCE OF SAUDA BOOK

DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER

DID NOT ISSUE CONTRACT NOTES

DEALT WITH UN-REGISTERED SUB-BROKERS

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

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-JUL-1999 TO 01-AUG-1999

06-JUL-1999 		 
13
History of entity/person S.L.GUPTA & CO.

(Member : DSE)  
  COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

ENTERED INTO PRINCIPAL TO PRINCIPAL TRANSACTIONS FOR WHICH BROKERAGE WAS CHARGED AND CONTRACT NOTES IN FORM 'A ' WERE ISSUED

SETTLED PAYMENT FOR TRANSACTIONS WITH OTHER MEMBERS OF EXCHANGE THROUGH SETTLEMENT SYSTEM OF EXCHANGE

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

DID NOT RECTIFY BAD DELIVERIES IN TIME   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

09-APR-2001 		 
14
History of entity/person S.R.UPPAL & CO.

(Member : LSE)  
  DEFAULTED IN MAINTENANCE OF CHOPRI

DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS

DID NOT AFFIX BROKER NOTE STAMPS

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

MISUTILIZED EXCHANGE MECHANISM TO FINANCE DEALS

DID NOT ROUTE CLIENT'S MONEY THROUGH SEPARATE BANK ACCOUNT   		CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

15-JUN-1998 		 
15
History of entity/person SARVAN KUMAR AGARWAL,M/S

(Member : UPSE)  
Click here to view complete history of this specific entity/person SARVAN KUMAR AGARWAL
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-MAR-1999 TO 01-JUN-1999

26-FEB-1999 		 
16
History of entity/person SURINDER SINGH MEHTA,M/S

(Member : JSE)  
Click here to view complete history of this specific entity/person SURINDER SINGH MEHTA
  		DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE

DEFAULTED IN MAINTENANCE OF BAD DELIVERY REGISTER

DID NOT RECTIFY BAD DELIVERIES IN TIME

MISUTILIZED EXCHANGE MECHANISM FOR SECURING PAYMENT

DID NOT ROUTE CLIENT'S MONEY THROUGH SEPARATE BANK ACCOUNT

DID NOT AFFIX BROKER NOTE STAMPS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 24-JUN-1998 TO 23-JUL-1998

11-JUN-1998 		 
17
History of entity/person T.N.BANSAL,M/S

(Member : UPSE)  
Click here to view complete history of this specific entity/person T.N.BANSAL
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS

DID NOT ROUTE CLIENT'S TRANSACTIONS THROUGH CLIENT ACCOUNT

DID NOT RECTIFY BAD DELIVERIES IN TIME

MISUSED EXCHANGE MECHANISM TO SETTLE LOAN TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 30-MAR-1999 TO 29-JUN-1999

24-MAR-1999 		 
18
History of entity/person VENKATESHWARLU KONDURI,M/S

(Member : HSE)  
Click here to view complete history of this specific entity/person VENKATESHWARLU KONDURI
  		DID NOT ISSUE CONTRACT NOTES

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

DID NOT ENTER INTO AGREEMENT WITH CLIENTS

DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER

USED CLIENT'S SECURITIES FOR RAISING FUNDS

USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-1999 TO 14-AUG-1999

05-FEB-1999 		 
19
History of entity/person VINOD KUMAR & CO.

(Member : UPSE)  
Click here to view complete history of this specific entity/person VINOD KUMAR
  		INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS

DID NOT ROUTE CLIENT'S TRANSACTIONS THROUGH CLIENT ACCOUNT

DID NOT RECTIFY BAD DELIVERIES IN TIME

MISUSED EXCHANGE MECHANISM TO SETTLE LOAN TRANSACTIONS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 30-MAR-1999 TO 29-MAY-1999

24-MAR-1999 		 
20
History of entity/person VIPIN AHUJA & CO.

(Member : UPSE)  
  INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS

MISUSED DEBIT NOTE FACILITY IN STOCK EXCHANGE

DID NOT REPORT PRINCIPAL-TO-PRINCIPAL TRANSACTIONS TO THE EXCHANGE

DID NOT REPORT SPOT TRANSACTIONS TO THE EXCHANGE

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS   		SUSPENDED REGISTRATION AS STOCK BROKER FROM 22-JUN-1999 TO 22-DEC-1999

18-JUN-1999 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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