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SOURCE OF INFORMATION : FORWARD MARKETS COMMISSION WEBSITE
PERIOD COVERED : 23-JUL-2011 TO 21-NOV-2024

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.

PERSONS: MISAPPROPRIATED EXCHANGE FUNDS BY WAY OF EXPENDITURE ON RELATIVES AND FAMILY MEMBERS FOR THEIR PERSONAL EXPENSES

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person KAILASH RAMKISHAN GUPTA  
History of entity/person NATIONAL MULTI COMMODITY EXCHANGE OF INDIA LTD.
  		MISAPPROPRIATED EXCHANGE FUNDS BY WAY OF EXPENDITURE ON RELATIVES AND FAMILY MEMBERS FOR THEIR PERSONAL EXPENSES

SUBVERTED CORPORATE GOVERNANCE IN THE EXCHANGE BY SYSTEMATICALLY AND CONSISTENTLY BYPASSING THE INSTITUTIONAL STRUCTURE OF A CORPORATE ENTITY

ABETTED CRIMINAL ACTS OF RELATIVES AND FAMILY MEMBERS  		DECLARED AS NOT A ‘FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNIZED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952

DIRECTED THAT NO COMPANY/ENTITY CONTROLLED BY IT, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNIZED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF 2% OF TOTAL ISSUED CAPITAL OF THE ASSOCIATION/EXCHANGE

23-JUL-2011 		SAT: SAT VIDE ITS ORDER DATED 18/10/2019 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER. DIRECTED RESPONDENTS TO GRANT ADEQUATE TIME TO APPELLANTS TO FILE THEIR OBJECTIONS/REPLY. NO 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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