| S.No. |
ENTITY |
DIRECTORS/ PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ALLAHABAD BANK
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT EVOLVE INTERNAL MECHANISM TO FURNISH INFORMATION OF CASH TRANSACTIONS
|
IMPOSED FINE RS.3,00,000
31-DEC-2013
|
APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI VIDE ITS ORDER DATED 09/07/2015 DISMISSED THE APPEAL. NO COSTS
|
| 2 |
|
|
BANK OF BARODA
|
|
|
DID NOT EVOLVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS
DID NOT CARRY OUT EFFECTIVE CUSTOMER DUE DILIGENCE VIOLATING SUB RULES (4), (7), (12) AND 9 OF RULES
DELAY IN FILING OF ELECTRONIC FUND TRANSFER (EFTS) REPORTS
DID NOT FILE ELECTRONICS FUND TRANSFER (EFTS) REPORTS
DID NOT REPORT MATERIAL MISSTATEMENTS KNOWN TO HIM IN TO APPEAR IN A FINANCIAL STATEMENTS VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 6 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT FILE SUSPICIOUS TRANSACTIONS REPORTS (STRS)
FILED IMPROPER SUSPICIOUS TRANSACTIONS REPORTS (STRS)
DELAY IN FILING OF SUSPICIOUS TRANSACTIONS REPORTS (STRS)
|
IMPOSED FINE RS.9,00,00,000
27-MAR-2018
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 3 |
|
|
GANDHIDHAM CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT FILE NTRS VIOLATING RULE 3(1)(BA) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT TO DIRECTOR
DID NOT INFORM FIU-IND OF TRANSACTIONS IN NATURE OF RECEIPTS OF VALUE OF MORE THAN RS.10 LACS OR ITS EQUIVALENT BY NON PROFIT ORGANISATIONS VIOLATING SECTION 12 OF PML ACT, 2002 READ WITH RULES 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.5,50,000
27-OCT-2020
|
|
| 4 |
|
|
GODAVARI URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT FILE CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT SUSPICIOUS TRANSACTIONS VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.2,50,000
06-APR-2021
|
|
| 5 |
|
|
HARIHARESHWAR SAHAKARI BANK LTD.
|
|
|
DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS)
|
IMPOSED FINE RS.1,80,000
11-JAN-2022
|
|
| 6 |
|
|
JHARKHAND STATE CO-OPERATIVE BANK LTD.
|
|
|
DID NOT OBTAIN SUFFICIENT INFORMATION NECESSARY FOR EXPRESSION OF OPINION OR ITS EXCEPTIONS MATERIAL TO NEGATE EXPRESSION OF OPINION VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 8 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.14,40,000
09-MAY-2019
|
|
| 7 |
|
|
KODOLI URBAN CO-OPERATIVE BANK LTD.
|
|
|
DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS)
DID NOT EVOLVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF CASH TRANSACTIONS VIOLATING UNDER SECTION 12 OF THE ACT. READ WITH RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.4,60,000
11-FEB-2022
|
|
| 8 |
|
|
LATUR URBAN CO-OPERATIVE BANK LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
|
IMPOSED FINE RS.90,000
29-APR-2014
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 9 |
|
|
MUTHOOT FINANCE LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
|
IMPOSED FINE RS.2,69,70,000
14-FEB-2013
|
APPELLATE TRIBUNAL, PREVENTION OF MONEY LAUNDERING ACT AT NEW DELHI VIDE ITS ORDER DATED 09/07/2015 REDUCED PENALTY AMOUNT TO RS.2,44,70,000.00 FROM RS.2,69,70,000.00
|
| 10 |
|
|
NAGARIK SAMABAY BANK LTD.
|
|
|
DID NOT INVITE ATTENTION TO ANY MATERIAL DEPARTURE FROM GENERALLY ACCEPTED PROCEDURE OF AUDIT APPLICABLE TO CIRCUMSTANCES VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 9 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF IL&FS FINANCIAL SERVICES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT ALL CASH TRANSACTIONS WHERE FORGED OR COUNTERFEIT CURRENCY NOTES OR BANK NOTES WERE USED AS GENUINE VIOLATING SECTIONS 12(1) (A) AND (B) OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 3(1) (C), 5, 7(3) AND 8(1) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.3,00,000
11-JUL-2019
|
|
| 11 |
|
|
NOIDA COMMERCIAL CO-OPERATIVE BANK LTD.
|
|
|
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES AS PER SECTION 132 (4) OF THE COMPANIES ACTREAD WITH SECTION 22 OF THE CHARTERED ACCOUNTANTS ACT 1949 (NO 38 OF 1949)AND CLAUSE 7 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT INVITE ATTENTION TO ANY MATERIAL DEPARTURE FROM GENERALLY ACCEPTED PROCEDURE OF AUDIT APPLICABLE TO CIRCUMSTANCES VIOLATING SECTION 22 OF THE CHARTERED ACCOUNTANTS ACT 1949(NO 38 OF 1949) READ WITH CLAUSE 9 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.25,70,000
09-JAN-2020
|
|
| 12 |
|
|
RAMGARHIA CO-OPERATIVE BANK LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
|
IMPOSED FINE RS.77,00,000
04-OCT-2017
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 13 |
|
|
SOLAPUR SOCIAL URBAN CO-OPERATIVE BANK LTD.,THE
|
|
|
DID NOT EXERCISE DUE DILIGENCE OR GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 7 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.5,50,000
15-APR-2019
|
|
| 14 |
|
|
SRI RAMA CO-OPERATIVE BANK LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
DID NOT PUT IN PLACE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT CASH TRANSACTIONS REPORTS (CTRS)
|
IMPOSED FINE RS.3,50,000
05-JAN-2021
|
|
| 15 |
|
|
TUMKUR GRAIN MERCHANTS CO-OPERATIVE BANK LTD.
|
|
|
DID NOT EXERCISE DUE DILIGENCE AND BEING GROSSLY NEGLIGENT IN CONDUCT OF PROFESSIONAL DUTIES AS PER SECTION 132 (4) OF THE COMPANIES ACTREAD WITH SECTION 22 OF THE CHARTERED ACCOUNTANTS ACT 1949 (NO 38 OF 1949)AND CLAUSE 7 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF SUSPICIOUS TRANSACTIONS VIOLATING RULE 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.4,50,000
09-JAN-2020
|
|
| 16 |
|
|
UNITED BANK OF INDIA
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL FACT IN A FINANCIAL STATEMENT VIOLATING SECTION 22 (NO 38 OF 1949) READ WITH CLAUSE 5 OF PART I OF SECOND SCHEDULE OF CHARTERED ACCOUNTANTS ACT, 1949 IN MATTER OF OF IL&FS FINANCIAL SERVICES LTD.
|
IMPOSED FINE RS.5,70,000
29-APR-2014
|
NOT APPEARING IN THE LIST DATED 30-JUN-2018
|
| 17 |
|
|
URBAN CO-OPERATIVE BANK LTD.,THE,SHIKARIPUR
|
|
|
DID NOT MAKE DISCLOSURE OF MATERIAL NON-COMPLIANCES THE COMPANY MADE AS PER SECTION 132 (4) OF THE COMPANIES ACT READ WITH SECTION 22 OF THE CHARTERED ACCOUNTANTS ACT 1949 (NO 38 OF 1949) AND CLAUSE 5 OF PART 1 OF THE SECOND SCHEDULE OF THE CHARTERED ACCOUNTANTS ACT 1949IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT REPORT MATERIAL MISSTATEMENTS KNOWN TO HIM IN TO APPEAR IN FINANCIAL STATEMENTS AS PER SECTION 132 (4) OF THE COMPANIES ACTREAD WITH SECTION 22 OF THE CHARTERED ACCOUNTANTS ACT 1949 (NO 38 OF 1949)AND CLAUSE 6 OF PART I OF THE SECOND SCHEDULE OF CHARTERED ACCOUNTANT ACT, 1949 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORTING OF CASH TRANSACTIONS ABOVE RS.10.00 LACS VIOLATING SECTIONS 12(1) (A) AND 12(1) (B) OF PREVENTION OF MONEY LAUNDERING ACT, 2002 READ WITH RULES 5(2) AND 7(3) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.6,20,000
15-JUL-2019
|
|
| 18 |
|
|
VIRAJPETH PATTANA SAHAKARA BANK NIYAMITHA
|
|
|
DELAY IN FILING OF CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT FILE CASH TRANSACTION REPORTS (CTRS) VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
DID NOT HAVE EFFECTIVE INTERNAL MECHANISM TO DETECT AND REPORT OF CASH TRANSACTIONS VIOLATING RULES 3(1)(A), 3(1)(B), 5(2), 7(2), 7(3) AND 7(4) OF PML (MAINTENANCE OF RECORDS) RULES, 2005
|
IMPOSED FINE RS.6,45,000
03-MAR-2021
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
