| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
CALCUTTA STOCK EXCHANGE ASSOCIATION LTD.
|
|
|
SEVERAL DEFICIENCIES IN RISK MANAGEMENT SYSTEM
SERIOUS SHORTCOMINGS IN COMPUTER SYSTEMS
DID NOT INITIATE PROCESS OF ENQUIRY, FIX RESPONSIBILITY AND TAKE APPROPRIATE ACTION FOR REMOVAL OF DEFICIENCIES
DID NOT INITIATE SYSTEMS AUDIT EXERCISE FOR ITS SURVEILLANCE SYSTEMS
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT
04-DEC-2003
|
ON SUCESSFULLY COMPETION OF DEMUTUALISATION PROCESS,RESTORE ADMINISTRATION OF EXCHANGE TO THE BOARD OF THE EXCHANGE,RECONSTITUTED IN ACCORDANCE WITH THE COMPOSITION PRESCRIBED BY SEBI
|
| 2 |
|
|
COCHIN STOCK EXCHANGE LTD.
|
|
|
INADEQUATE INFRASTRUCTURE FACILITIES AVAILABLE WITH THE EXCHANGE
DID NOT MAINTAIN STIPULATED MINIMUM BMC
DID NOT RECOVER DUES FROM MEMBERS
|
DIRECTED GOVERNING BOARD OF STOCK EXCHANGE TO SUBMIT A COMPLIANCE REPORT WITH RESPECT TO OBSERVATIONS WHICH STILL HAVE NOT BEEN COMPLIED WITH
DIRECTED THE GOVERNING BOARD OF STOCK EXCHANGE TO BE MORE VIGILANT, CAUTIOUS AND CAREFUL IN FUTURE IN DISCHARGE OF ITS FUNCTIONS AS A SELF REGULATORY ORGANISATION
02-FEB-2006
|
|
| 3 |
|
|
MADHYA PRADESH STOCK EXCHANGE LTD.
|
|
|
DID NOT MAINTAIN BASE MINIMUM CAPITAL
DID NOT COLLECT/RECOVER OUTSTANDING DUES FROM BROKERS
DID NOT CONDUCT INSPECTION OF SUBSIDIARY COMPANY/SUB-BROKERS
DID NOT APPOINT LISTING COMMITTEE
DID NOT MAINTAIN BASIC PLATFORM FOR TRADING AND SETTLEMENT SUCH AS CLEARING HOUSE, SEPARATE BANK ACCOUNT, SEPARATE DEMAT ACCOUNT, LICENSED AND TESTED TRADING SOFTWARE, PROPER MAN POWER ETC.
DID NOT SET UP INVESTOR PROTECTION FUND
|
DIRECTED STOCK EXCHANGE TO RECTIFY DEFICIENCIES MADE IN LAST INSPECTION REPORT AND PUT IN PLACE BASIC SYSTEMS REQUIRED TO PERFORM AS RECOGNIZED STOCK EXCHANGE WITHIN 3 MONTHS FROM THE DATE OF ORDER
18-FEB-2008
|
|
| 4 |
|
|
MANGALORE STOCK EXCHANGE LTD.
|
|
|
|
ASHISH PARIKH
|
|
|
NAMITHA W.PAIS
|
|
|
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
|
| 5 |
|
|
PUNE STOCK EXCHANGE LTD.
|
|
|
LISTING PERMISSION TO HOME TRADE LTD WAS NOT IN ACCORDANCE WITH SC (R)A, ITS RULES AND LISTING AGREEMENT
DID NOT CONDUCT ANY INSPECTION OF BROKERS
DID NOT TAKE ANY RISK CONTAINMENT MEASURES IN IMPOSITION OF SPECIAL MARGIN
DID NOT TAKE ANY RISK CONTAINMENT MEASURES IN PUTTING SCRIP ON SPOT BASIS
DID NOT TAKE ANY RISK CONTAINMENT MEASURES IN SUSPENSION OF TRADING IN SCRIP
DID NOT TAKE ANY RISK CONTAINMENT MEASURES IN INDEFINITE SUSPENSION TO CURB/CHECK ARTIFICIAL PRICE RISE
LARGE SCALE VIOLATIONS IN SURVEILLANCE
ALLEGED ACTIVATION OF SUB-BROKER TERMINALS BEFORE GETTING SEBI REGISTRATION
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT
07-APR-2003
|
RECONSTITUTED BOARD OF EXCHANGE AND RESTORED ADMINISTRATION OF EXCHANGE TO THE BOARD
|
| 6 |
|
|
SAURASHTRA KUTCH STOCK EXCHANGE LTD.
|
|
|
FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE
INADEQUATE INFRASTRUCTURE FACILITIES AVAILABLE WITH THE EXCHANGE
DID NOT RECOVER DUES FROM MEMBERS
DID NOT SET UP SETTLEMENT GUARANTEE FUND
FAILED TO APPOINT CHIEF EXECUTIVE OFFICER FOR ITS SUBSIDIARY COMPANY
VIOLATED DIRECTIVES OF SEBI WILFULLY
DID NOT PROVIDE ADEQUATE FINANCIAL POWERS TO EXECUTIVE DIRECTOR
DID NOT CONDUCT HALF YEARLY INSPECTION OF SUBSIDIARY
SUBSIDIARY FAILED TO HAVE ITS OWN STAFF
DID NOT VALUATE SHARES ON VAR BASIS
FINANCIAL POWERS EXERCISED BY BROKER DIRECTORS
|
RECOGNITION OF STOCK EXCHANGE WITHDRAWN
05-JUL-2007
|
SAT: APPEAL FAILED AND DISMISSED WITH NO ORDER AS TO COSTS
SEBI VICE ITS ORDER DATED 05/04/2013 ORDERED SKSEL TO COMPULSORY EXIT AND DIRECTED TO A) COMPLY WITH ITS TAX OBLIGATIONS UNDER INCOME TAX ACT, 1961 B) COMPLY WITH UNDERTAKINGS GIVEN BY IT TO SEBI C) COMPLY WITH OTHER CONSEQUENTIAL CONDITIONS OF 2012 EXIT CIRCULAR AND D) CHANGE ITS NAME AND NOT TO USE THE EXPRESSION “STOCK EXCHANGE” OR ANY VARIANT OF THIS EXPRESSION IN ITS NAME AND TO AVOID ANY REPRESENTATION OF PRESENT OR PAST AFFILIATION WITH THE STOCK EXCHANGE, IN ALL MEDIA
|
| 7 |
|
|
UTTAR PRADESH STOCK EXCHANGE ASSOCIATION LTD.
|
|
|
PERMITTED UNAUTHORISED CARRY FORWARD TRANSACTIONS
NON-COMPLIANCE OF SEBI DIRECTIVES
INTERFERENCE FROM ELECTED DIRECTORS IN FUNCTIONING OF EXCHANGE
INTERFERENCE FROM BROKERS IN FUNCTIONING OF EXCHANGE
DELAYED CONSIDERING AND REDRESSING DEFICIENCIES
BOARD MEETINGS NOT CONDUCTED AS PER RULES AND BYE-LAWS OF THE EXCHANGE
DID NOT RECTIFY LACUNAE IN TRADING SOFTWARE
DID NOT RECTIFY LACUNAE IN SETTLEMENT MECHANISM
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT
12-JUL-2002
|
RESTORED ADMINISTRATION OF THE EXCHANGE TO THE BOARD OF THE EXCHANGE, RECONSTITUED IN ACCORDANCE WITH THE COMPOSITION PRESCRIBED BY SEBI
SAT: APPEAL ALLOWED TO BE WITHDRAWN AND PERMITTED TO FILE FRESH APPEAL WITHIN A PERIOD OF SIX WEEK FROM THE DATE OF THIS ORDER. NO COSTS
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
