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SOURCE OF INFORMATION : NATIONAL STOCK EXCHANGE OF INDIA LTD. LISTS/WEBSITE
PERIOD COVERED : 01-JAN-2000 TO 21-NOV-2024

STOCK BROKERS: CHARGED EXCESS/DIFFERENT RATES OF BROKERAGE

S.No. ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ADITYA BIRLA MONEY LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.13,200

06-MAY-2022 		nse vide its arbitration award dated 22/08/2022 allowed the appeal and set aside impugned award dated 06/05/2022  
2
History of entity/person ADITYA BIRLA MONEY LTD.  
CHARGED EXCESS BROKERAGE

INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS  		CLAIM ADMITTED
AWARD AMOUNT: RS.67,200

31-DEC-2019 		nse vide its arbitration award dated 29/05/2021 allowed the appeal and set asided arbitration award dated 31/12/2019. directed appellant to pay rs.67,200.00 to respondent within one month from date of this order. no costs  
3
History of entity/person ANAND RATHI SHARE & STOCK BROKERS LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE

DID NOT EXECUTE TRADES  		CLAIM ADMITTED
AWARD AMOUNT: RS.50,000

16-FEB-2009 		 
4
History of entity/person ANGEL BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.97,641

06-MAY-2021 		 
5
History of entity/person BANSAL FINSTOCK PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,75,120

05-AUG-2015 		 
6
History of entity/person BANSAL FINSTOCK PVT.LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.8,35,000

13-APR-2018 		NSE VIDE ITS ARBITRATION AWARD DATED 29/08/2018 REMANDED BACK AWARD TO SOLE ARBITRATOR TO PASS REASONED AWARD AFTER HEARING BOTH THE PARTIES  
7
History of entity/person BANSAL FINSTOCK PVT.LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.1,50,000

14-MAR-2016 		 
8
History of entity/person BANSAL FINSTOCK PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,42,109

05-AUG-2015 		 
9
History of entity/person BMA WEALTH CREATORS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.25,600

03-OCT-2013 		 
10
History of entity/person BMA WEALTH CREATORS LTD.  
DID NOT PAY LEDGER BALANCE

INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.14,13,339

01-DEC-2015 		 
11
History of entity/person CHOICE EQUITY BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.24,700

16-AUG-2022 		 
12
History of entity/person DEALMONEY SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,00,689

16-JUL-2022 		nse vide its arbitration award dated 16/07/2022 quashed and set aside impugned award dated 20/11/2021 and upheld igrp members decision dated 06/08/2020. directed respondent to pay rs.1,00,689.00 to appellant with 15% interest from date of arbitration application till realization of payment  
13
History of entity/person DEALMONEY SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,75,320

05-MAY-2021 		nse vide its arbitration award dated 11/03/2022 set aside impugned original award dated 05/05/2021. no costs  
14
History of entity/person DEALMONEY SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,29,500

19-APR-2021 		 
15
History of entity/person DEALMONEY SECURITIES PVT.LTD.  
DEFICIENCY IN RENDERING OF SERVICE

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.2,74,479

21-JAN-2022 		 
16
History of entity/person DESTIMONEY SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,00,000

16-JAN-2014 		 
17
History of entity/person ECONO BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.4,32,000

31-OCT-2022 		 
18
History of entity/person ECONO BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE

PROVIDED FALSE INFORMATION  		CLAIM ADMITTED
AWARD AMOUNT: RS.7,08,000

29-SEP-2021 		 
19
History of entity/person ECONO BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED

09-JUL-2022 		NSE VIDE ITS ARBITRATION AWARD DATED 09/07/2022 SET ASIDE IMPUGNED AWARD DATED 28/01/2022 AND DIRECTED APPLICANT TO PAY RS.11,76,496.88 TOWARDS EXCESS BROKERAGE CHARGES BY THE APPLICANT. NO COSTS

NSE VIDE ITS ARBITRATION AWARD DATED 01/02/2023 REJECTED THE APPEAL AND SET ASIDE IMPUGNED AWARD DATED 09/07/2022. DIRECTED APPELLANT TO REFUND 60% OF BROKERAGE (RS.10,00,000) CONSISTING OF RS.6,00,000.00 PLUS GST: RS.1,08,000.00 TO RESPONDENT WITHIN THIRTY DAYS FROM THE DATE OF THIS AWARD  
20
History of entity/person ECONO BROKING PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,00,000

17-JAN-2022 		 
21
History of entity/person EDELWEISS FINANCIAL ADVISORS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.68,606

19-FEB-2013 		 
22
History of entity/person EDELWEISS SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.4,43,170

28-AUG-2019 		 
23
History of entity/person GLOBE CAPITAL MARKET LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.40,000

24-MAR-2014 		 
24
History of entity/person HDFC SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.12,587

21-AUG-2023 		nse vide its arbitration award dated 16/02/2024 allowed the appeal and quashed impugned order dated 21/08/2023. no costs  
25
History of entity/person HRIM FINANCE & SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,30,484

19-SEP-2013 		 
26
History of entity/person ICICI SECURITIES LTD.  
DID NOT PAY LEDGER BALANCE

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.29,51,179

10-MAR-2023 		nse vide its arbitration award dated 21/09/2023 dismissed the appeal. No costs  
27
History of entity/person IIFL SECURITIES LTD.  
EARNED WRONGFUL BROKERAGE  DIRECTED TO DEPOSIT AMOUNT IN STOCK EXCHANGE INVESTORS PROTECTION FUND
AWARD AMOUNT: RS.11,83,473

25-JAN-2024 		nse vide its arbitration award dated 14/08/2024 set aside impugned order dated 25/01/2024 and restored grc order dated 21/07/2023 and directed respondent to pay rs.11,83,473.00 to appellant within four weeks from date of this order. no costs  
28
History of entity/person IIFL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  DIRECTED TO REFUND BROKERAGE

30-MAR-2023 		 
29
History of entity/person IIFL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.19,68,009

07-JUN-2024 		 
30
History of entity/person INDIA INFOLINE LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.19,042

03-MAR-2014 		 
31
History of entity/person INDIA INFOLINE LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.662

24-FEB-2010 		 
32
History of entity/person INDIA INFOLINE SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.20,000

04-JUN-2007 		 
33
History of entity/person INDIABULLS SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.4,24,948

13-APR-2011 		 
34
History of entity/person INDIABULLS VENTURES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.32,272

13-FEB-2017 		 
35
History of entity/person KANTILAL CHHAGANLAL SECURITIES PVT.LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.1,88,747

31-MAR-2011 		 
36
History of entity/person KOTAK SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.72,360

15-SEP-2023 		 
37
History of entity/person KOTAK SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.81,243

03-JUN-2022 		 
38
History of entity/person KOTAK SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.6,000

09-JUN-2015 		 
39
History of entity/person KOTAK SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,59,924

14-OCT-2015 		 
40
History of entity/person KOTAK SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.35,000

18-JAN-2023 		 
41
History of entity/person LKP SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.77,849

21-AUG-2023 		nse vide its arbitration award dated 03/01/2024 allowed the appeal and set aside impugned award dated 21/08/2023. no costs  
42
History of entity/person MASTER CAPITAL SERVICES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.49,500

22-NOV-2021 		 
43
History of entity/person MOTILAL OSWAL FINANCIAL SERVICES LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.21,19,668

15-SEP-2023 		nse vide its arbitration award dated 29/01/2024 allowed the appeal and set aside impugned award dated 15/09/2023 and hon’ble grc’s order dated 08/03/2023. Directed nse to release amount debited from the account of appellant due to impugned award dated 15/09/2023 and hon’ble grc’s order dated 08/03/2023. No costs  
44
History of entity/person MOTILAL OSWAL FINANCIAL SERVICES LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

EARNED WRONGFUL BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.13,50,582

17-NOV-2023 		nse vide its arbitration award dated 28/03/2024 dismissed the appeal  
45
History of entity/person MOTILAL OSWAL FINANCIAL SERVICES LTD.  
CHARGED EXCESS BROKERAGE

CHARGED EXCESS INTEREST  		CLAIM ADMITTED
AWARD AMOUNT: RS.29,379

18-DEC-2020 		 
46
History of entity/person MOTILAL OSWAL FINANCIAL SERVICES LTD.  
EARNED WRONGFUL BROKERAGE  DIRECTED TO REFUND BROKERAGE
AWARD AMOUNT: RS.60,003

15-MAR-2024 		 
47
History of entity/person NIRMAL BANG SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,84,365

07-OCT-2022 		 
48
History of entity/person NIRMAL BANG SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,88,712

25-NOV-2021 		 
49
History of entity/person NIRMAL BANG SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,155

20-AUG-2013 		 
50
History of entity/person NIRMAL BANG SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.39,317

19-JUL-2012 		 
51
History of entity/person NIRMAL BANG SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.51,685

18-DEC-2014 		 
52
History of entity/person NUVAMA WEALTH & INVESTMENT LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

EARNED WRONGFUL BROKERAGE  		CLAIM ADMITTED
AWARD AMOUNT: RS.1,40,93,159

06-FEB-2024 		 
53
History of entity/person PROFITMART SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.43,083

13-OCT-2023 		nse vide its arbitration award dated 08/01/2024 granted relief of rs.43,083.00 to respondent there by confirmed Arbitration Award dated 13/10/2023 and dismissed the appeal  
54
History of entity/person RELIANCE SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.8,00,000

31-MAR-2023 		 
55
History of entity/person RELIANCE SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.30,518

01-NOV-2018 		 
56
History of entity/person RELIGARE SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.59,393

04-MAY-2010 		 
57
History of entity/person RELIGARE SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.50,754

04-MAY-2010 		 
58
History of entity/person SHAH INVESTOR'S HOME LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.50,000

11-MAR-2010 		 
59
History of entity/person SHAREKHAN LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.4,87,513

26-APR-2022 		nse vide its arbitration award dated 29/08/2022 upheld and confirmed impugned award dated 26/04/2022 and rejected the appeal filed by sharekhan ltd. no costs  
60
History of entity/person SHAREKHAN LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.4,500

15-NOV-2019 		 
61
History of entity/person SHAREKHAN LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.13,78,000

28-DEC-2023 		nse vide its arbitration award dated 27/05/2024 dismissed the appeal. No costs  
62
History of entity/person SHRI PARASRAM HOLDINGS PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.3,20,874

13-OCT-2014 		 
63
History of entity/person SHRIRAM INSIGHT SHARE BROKERS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.21,181

21-APR-2008 		 
64
History of entity/person SMC GLOBAL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,47,166

30-DEC-2021 		 
65
History of entity/person SMC GLOBAL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.3,00,000

01-SEP-2021 		 
66
History of entity/person SMC GLOBAL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,05,980

30-DEC-2015 		 
67
History of entity/person SMC GLOBAL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,230

24-SEP-2013 		 
68
History of entity/person SMC GLOBAL SECURITIES LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.24,81,301

31-MAY-2023 		 
69
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.18,261

08-MAY-2023 		 
70
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.89,993

08-MAR-2023 		 
71
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.56,095

21-JUL-2023 		 
72
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.44,536

25-FEB-2022 		 
73
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.44,536

18-MAY-2022 		 
74
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE

DEFICIENCY IN RENDERING OF SERVICE  		CLAIM ADMITTED
AWARD AMOUNT: RS.44,629

12-MAY-2022 		 
75
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.69,078

11-JUL-2022 		 
76
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.33,049

13-JUL-2022 		 
77
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.21,561

16-MAR-2023 		 
78
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE

WRONGLY CHARGED PROCESSING CHARGES  		CLAIM ADMITTED
AWARD AMOUNT: RS.25,846

01-MAR-2023 		 
79
History of entity/person SMIFS LTD.  
CHARGED EXCESS BROKERAGE

WRONGLY CHARGED PROCESSING CHARGES  		CLAIM ADMITTED
AWARD AMOUNT: RS.18,730

01-MAR-2023 		 
80
History of entity/person SWASTIKA INVESTMART LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED

07-JUN-2023 		 
81
History of entity/person TRADEBULLS SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.2,50,000

30-NOV-2021 		 
82
History of entity/person TRADEBULLS SECURITIES PVT.LTD.  
CHARGED EXCESS BROKERAGE  CLAIM ADMITTED
AWARD AMOUNT: RS.1,15,220

10-OCT-2017 		 
83
History of entity/person UNICON SECURITIES PVT.LTD.  
INDULGED IN EXECUTION OF UNAUTHORISED TRANSACTIONS

CHARGED EXCESS BROKERAGE

DID NOT REFUND DEPOSIT AND/OR SECURITY DEPOSIT AMOUNT  		CLAIM ADMITTED
AWARD AMOUNT: RS.56,163

22-DEC-2009 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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