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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 EXCHANGES: REJECTED APPLICATION FOR RENEWAL OF RECOGNITION AS STOCK EXCHANGE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person MAGADH STOCK EXCHANGE ASSOCIATION LTD.  
  DID NOT SET UP INVESTOR PROTECTION FUND

DID NOT INSPECT BOOKS OF ACCOUNTS OF ITS MEMBERS

SUB-BROKERS DID NOT PAY ANNUAL REGISTRATION FEE

SUBSIDIARY DID NOT PAY LEASE RENTAL

DID NOT RECOVER DUES LEADING TO DRAIN OF EXCHANGE’S RESOURCES

DID NOT REFUND REFUNDABLE FINANCIAL SUPPORT GRANTED BY SEBI

DID NOT PROVIDE SUBSIDY TO MEMBERS TRADING THROUGH ISE SERVICES LTD.

DID NOT TRANSFER 50% OF INTEREST EARNED ON 1% SECURITY DEPOSIT TO INVESTOR PROTECTION FUND

COMMENCED TRADING WITHOUT SETTING UP OF SETTLEMENT GUARANTEE FUND/TRADE GUARANTEE FUND

DID NOT ADHERE TO CORPORATISATION & DEMUTUALIZATION SCHEME

FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE

DID NOT MAINTAIN STIPULATED MINIMUM BMC   		REJECTED APPLICATION FOR RENEWAL OF RECOGNITION AS STOCK EXCHANGE

DIRECTED TO REFRAIN FROM TRANSFERRING OR ALIENATING ANY MOVABLE OR IMMOVABLE PROPERTY OF EXCHANGE

DIRECTED TO TRANSFER MONEY AVAILABLE IN INVESTOR PROTECTION FUND AND INVESTOR SERVICES FUND LYING UNUTILIZED TO SEBI INVESTOR PROTECTION AND EDUCATION FUND

DIRECTED TO SET ASIDE SUFFICIENT FUNDS TO PROVIDE SETTLEMENT OF ANY CLAIMS

TRADING MEMBERS SHALL CEASE TO BE TRADING MEMBERS

DIRECTED TO REFRAIN FROM USING THE EXPRESSION “STOCK EXCHANGE” OR ANY VARIANT IN ITS NAME OR SUBSIDIARY COMPANY’S NAME

DIRECTED TO PAY BALANCE AMOUNT OF REFUNDABLE FINANCIAL SUPPORT GRANTED BY SEBI

30-AUG-2007 		SAT: APPEAL DISMISSED, LEAVING PARTIES TO BEAR OWN COSTS  
2
History of entity/person MANGALORE STOCK EXCHANGE LTD.  
Click here to view complete history of this specific entity/person ASHISH PARIKH
Click here to view complete history of this specific entity/person NAMITHA W.PAIS
Click here to view complete history of this specific entity/person T.MALLIKARJUNAPPA
  		DID NOT ADHERE TO STATED INVESTMENT POLICY/DIRECTIVES/INSTRUCTIONS/GUIDELINES OF THE EXCHANGE

DRAIN ON EXCHANGE'S RESOURCES

DID NOT RECTIFY LACUNAE IN TRADING SOFTWARE

FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE

HUGE GAP BETWEEN RESOURCES CURRENTLY AVAILABLE AND REQUIREMENTS IN TERMS OF MANPOWER, MATERIAL ETC, TO FUNCTION AS STOCK EXCHANGE

LAPSES IN BASIC FUNCTIONS AND INSTANCES OF NON-INITIATION OF EFFECTIVE STEPS FOR THE GENERAL FUNCTIONING AND ADMINISTRATION OF THE EXCHANGE IN TERMS OF THE PROVISIONS OF SEBI DIRECTIVES, CIRCULARS, SC(R)A AND THE SC(R)R

WEAK OPERATIONAL MANAGEMENT

MISUSE OF POSITION BY ELECTED DIRECTORS   		REJECTED APPLICATION FOR RENEWAL OF RECOGNITION AS STOCK EXCHANGE

31-AUG-2004 		SAT: APPEAL MAINTAINABLE

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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