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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.

COMPANIES: DIRECTED BSE TO IMPOUND THE AUCTION AND CLOSE OUT PROCEEDS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CLASSIC FINANCIAL SERVICES  
  INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE RIGGING IN SCRIP OF NAPA PAPERS LTD.   DIRECTED BSE TO IMPOUND THE AUCTION AND CLOSE OUT PROCEEDS

19-DEC-2007 		DIRECTED BSE TO TRANSFER THE AUCTION AND CLOSE OUT THE PROCEEDS RETAINED BY IT TO INVESTOR PROTECTION FUND OF THE EXCHANGE

DIRECTED BSE TO 1) REFUND MONEY ALONGWITH INTEREST ACCRUED IN INVESTOR PROTECTION FUND 2) ENSURE THAT SAME IS RELEASED TO ULTIMATE CLIENTS AND OBTAIN PROOF OF PAYMENTS 3) FORWARD REPORT OF COMPLIANCE SHOWING TOTAL AMOUNT LEFT AFTER SUCH PAYOUTS  
2
History of entity/person HI-TECH GEARS LTD.  
  INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE RIGGING IN SCRIP OF NAPA PAPERS LTD.   DIRECTED BSE TO IMPOUND THE AUCTION AND CLOSE OUT PROCEEDS

19-DEC-2007 		 
3
History of entity/person UNIVERSAL SECURITIES & MANAGEMENT SERVICES  
Click here to view complete history of this specific entity/person BHAVESH PARIKH
  		INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE RIGGING IN SCRIP OF NAPA PAPERS LTD.   DIRECTED BSE TO IMPOUND THE AUCTION AND CLOSE OUT PROCEEDS

19-DEC-2007 		DIRECTED BSE TO TRANSFER THE AUCTION AND CLOSE OUT THE PROCEEDS RETAINED BY IT TO INVESTOR PROTECTION FUND OF THE EXCHANGE

DIRECTED BSE TO 1) REFUND MONEY ALONGWITH INTEREST ACCRUED IN INVESTOR PROTECTION FUND 2) ENSURE THAT SAME IS RELEASED TO ULTIMATE CLIENTS AND OBTAIN PROOF OF PAYMENTS 3) FORWARD REPORT OF COMPLIANCE SHOWING TOTAL AMOUNT LEFT AFTER SUCH PAYOUTS  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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