S.
No. |
DATE OF ORDER |
ENTITY |
PERSON |
COMPETENT AUTHORITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
22-SEP-2015
|
|
COMMEX TECHNOLOGIES LTD.
|
|
|
FMC |
IRREGULARITIES IN MAINTENANCE OF BANK ACCOUNT OPERATION
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT UPDATE WITH LATEST SETTLEMENT GURANTEE FUND (SGF) POSITION ON UCX WEBSITE
DID NOT SUBMIT EVIDENCE THAT BOARD MEETING EVER TOOK PLACE
|
DECLARED AS NOT A ‘FIT AND PROPER PERSON’ TO CONTINUE TO BE A SHAREHOLDER
DIRECTED NOT TO HOLD ANY SHARES NEITHER INDIVIDUALLY NOR ANY COMPANY/ ENTITY CONTROLLED, EITHER DIRECTLY OR INDIRECTLY, IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC
22-SEP-2015
|
|
| 2 |
22-SEP-2015
|
|
|
SKYLINE CAPITAL PVT.LTD.
|
|
|
FMC |
IRREGULARITIES IN MAINTENANCE OF BANK ACCOUNT OPERATION
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT UPDATE WITH LATEST SETTLEMENT GURANTEE FUND (SGF) POSITION ON UCX WEBSITE
DID NOT SUBMIT EVIDENCE THAT BOARD MEETING EVER TOOK PLACE
|
DECLARED AS NOT A ‘FIT AND PROPER PERSON’ TO CONTINUE TO BE A SHAREHOLDER
DIRECTED NOT TO HOLD ANY SHARES NEITHER INDIVIDUALLY NOR ANY COMPANY/ ENTITY CONTROLLED, EITHER DIRECTLY OR INDIRECTLY, IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC
22-SEP-2015
|
|
| 3 |
22-SEP-2015
|
|
|
UNIVERSAL COMMODITY EXCHANGE LTD.
|
|
|
|
PRAVEEN PILLAI
|
|
|
KETAN SHETH
|
|
FMC |
IRREGULARITIES IN MAINTENANCE OF BANK ACCOUNT OPERATION
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DID NOT UPDATE WITH LATEST SETTLEMENT GURANTEE FUND (SGF) POSITION ON UCX WEBSITE
DID NOT SUBMIT EVIDENCE THAT BOARD MEETING EVER TOOK PLACE
|
DECLARED AS NOT A ‘FIT AND PROPER PERSON’ TO CONTINUE TO BE A SHAREHOLDER
DIRECTED NOT TO HOLD ANY SHARES NEITHER INDIVIDUALLY NOR ANY COMPANY/ ENTITY CONTROLLED, EITHER DIRECTLY OR INDIRECTLY, IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC
DECLARED AS NOT A `FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNISED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952
22-SEP-2015
|
|
| 4 |
17-DEC-2013
|
|
|
FINANCIAL TECHNOLOGIES (INDIA) LTD.
(New Name : 63 MOONS TECHNOLOGIES LTD.)
(Old Name : E.XCHANGE ON THE NET LTD.)
(Old Name : NODS WORLDWIDE LTD.)
(Old Name : WORLDWIDE TECHNOLOGIES LTD.)
|
|
|
FMC |
MISCONDUCT, LACK OF INTEGRITY AND UNFAIR PRACTICES IN PLANNING, DIRECTING AND CONTROLLING THE ACTIVITIES OF ITS SUBSIDIARY COMPANY, NATIONAL SPOT EXCHANGE LTD. LEADING TO A FRAUD INVOLVING RS. 5500 CRORE
|
DECLARED AS NOT A `FIT AND PROPER PERSON’ TO CONTINUE TO BE A SHAREHOLDER OF 2% OR MORE OF THE PAID-UP EQUITY CAPITAL OF MCX
ORDERED NEITHER FTIL, NOR ANY COMPANY/ENTITY CONTROLLED BY IT, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF THRESHOLD LIMIT OF TOTAL PAID-UP EQUITY CAPITAL OF SUCH ASSOCIATION / EXCHANGE AS PRESCRIBED UNDER COMMODITY EXCHANGE GUIDELINES AND POST 5-YEAR GUIDELINES
17-DEC-2013
|
|
| 5 |
17-DEC-2013
|
|
|
FINANCIAL TECHNOLOGIES (INDIA) LTD.
(New Name : 63 MOONS TECHNOLOGIES LTD.)
(Old Name : E.XCHANGE ON THE NET LTD.)
(Old Name : NODS WORLDWIDE LTD.)
(Old Name : WORLDWIDE TECHNOLOGIES LTD.)
|
|
|
|
SHREEKANT JAVALGEKAR
|
|
|
JIGNESH P.SHAH
|
|
|
JOSEPH MASSEY
|
|
FMC |
SUBSTANTIAL EROSION IN GENERAL REPUTATION AND CHARACTER, RECORD OF FAIRNESS, HONESTY AND INTEGRITY IN THE AFFAIRS OF NSEL LEADING TO A FRAUD INVOLVING RS.5500 CRORE
|
DECLARED AS NOT A `FIT AND PROPER’ PERSON TO HOLD ANY POSITION IN MANAGEMENT AND BOARD OF ANY EXCHANGE RECOGNISED OR REGISTERED BY GOI / FMC UNDER FCRA, 1952
ORDERED THAT NEITHER INDIVIDUALLY, NOR ANY COMPANY/ENTITY CONTROLLED BY HIM, EITHER DIRECTLY OR INDIRECTLY, SHALL HOLD ANY SHARES IN ANY ASSOCIATION / EXCHANGE RECOGNISED BY GOVT. OR REGISTERED BY FMC IN EXCESS OF THRESHOLD LIMIT OF TOTAL PAID-UP EQUITY CAPITAL OF SUCH ASSOCIATION / EXCHANGE AS PRESCRIBED UNDER COMMODITY EXCHANGE GUIDELINES AND POST 5-YEAR GUIDELINES
17-DEC-2013
|
|
| 6 |
31-JAN-2012
|
|
|
HINDUSTAN TECHNOSOL PVT.LTD.
|
|
|
FMC |
SUBVERTED DIRECTIONS OF COMMISSION REGARDING COLLECTION OF MARGIN ISSUED VIDE LETTER NO.07/1/2009-MKT-1 DATED 02/06/2011
DID NOT SEGREGATE CLIENT ACCOUNTS IN COMMODITY FUTURES EXCHANGE
TRANSFERRED FUND FROM CLIENTS ACCOUNTS TO NON CLIENTS ACCOUNTS
FUNDED CLIENT’S MTM REQUIREMENTS AND ALLOWED MEMBERS TO TRADE WITHOUT MARGIN
|
SUSPENDED FROM MEMBERSHIP OF COMMODITY DERIVATIVES EXCHANGE(S)
PROHIBITED FROM ENTERING ANY FORWARD CONTRACT FOR SALE OR PURCHASE IN OWN NAME OR THROUGH ANOTHER MEMBER OF RECOGNISED ASSOCIATION OF ANY GOODS OR CLASS OF GOODS
31-JAN-2012
|
|
| 7 |
20-JAN-2012
|
|
|
SHRESTH COMMODITIES & FINANCIAL SERVICES PVT.LTD.
|
|
|
FMC |
PROVIDED FUNDS TO CLIENTS AND ALLOWED CLIENTS TO TRADE WITHOUT PROPER & ADEQUATE MARGIN
|
SUSPENDED FROM MEMBERSHIP OF COMMODITY DERIVATIVES EXCHANGE(S)
PROHIBITED FROM ENTERING ANY FORWARD CONTRACT FOR SALE OR PURCHASE IN OWN NAME OR THROUGH ANOTHER MEMBER OF RECOGNISED ASSOCIATION OF ANY GOODS OR CLASS OF GOODS
20-JAN-2012
|
|
| 8 |
20-JAN-2012
|
|
|
VINOD COMMODITIES LTD.
|
|
|
FMC |
SUBVERTED DIRECTIONS OF COMMISSION REGARDING COLLECTION OF MARGIN ISSUED VIDE LETTER NO.07/1/2009-MKT-1 DATED 02/06/2011
TRANSFERRED FUND FROM CLIENTS ACCOUNTS TO NON CLIENTS ACCOUNTS
FUNDED CLIENT’S MTM REQUIREMENTS AND ALLOWED MEMBERS TO TRADE WITHOUT MARGIN
|
SUSPENDED FROM MEMBERSHIP OF COMMODITY DERIVATIVES EXCHANGE(S)
20-JAN-2012
|
|
| 9 |
20-JAN-2012
|
|
|
VINOD COMMODITIES LTD.
|
|
|
|
VINOD SANGHVI
|
|
FMC |
SUBVERTED DIRECTIONS OF COMMISSION REGARDING COLLECTION OF MARGIN ISSUED VIDE LETTER NO.07/1/2009-MKT-1 DATED 02/06/2011
TRANSFERRED FUND FROM CLIENTS ACCOUNTS TO NON CLIENTS ACCOUNTS
FUNDED CLIENT’S MTM REQUIREMENTS AND ALLOWED MEMBERS TO TRADE WITHOUT MARGIN
|
PROHIBITED FROM ENTERING ANY FORWARD CONTRACT FOR SALE OR PURCHASE IN OWN NAME OR THROUGH ANOTHER MEMBER OF RECOGNISED ASSOCIATION OF ANY GOODS OR CLASS OF GOODS
20-JAN-2012
|
|
| 10 |
26-JUL-2011
|
|
|
RANK COMMODITIES PVT.LTD.
|
|
|
FMC |
DID NOT MAINTAIN BOOKS OF ACCOUNTS PROPERLY
USED CLIENT FUND FOR OWN PURPOSES
INDULGED IN UNAUTHORIZED TRANSFER OF FUNDS FROM ONE CLIENT TO ANOTHER CLIENT
RECEIVED MARGIN MONEY IN CASH FROM CLIENTS AND USED FOR DIRECTORS’ OWN BUSINESS ACTIVITY / CASH DEALING
TRANSFERRED PROFIT FROM ONE ACCOUNT TO VARIOUS ACCOUNTS
TRADED FOR CLIENT NOT REGISTERED AT EXCHANGE LEVEL
ENGAGED OR CARRIED OUT PORTFOLIO MANAGEMENT SERVICES
DID NOT MAINTAIN NETWORTH PRESCRIBED BY EXCHANGE FOR A MEMBER
SHARES BROKERAGE WITH A PERSON WHO WAS NOT AN APPROVED
TRANSFERRED SHARES OF WHOLLY OWNED SUBSIDIARY MEMBER TO OTHERS ENTITY
INDULGED IN MONEY LAUNDERING ACTIVITY
DEALT WITH PERSON WHO WAS FORBIDDEN TO DO BUSINESS BY MEMBER
INDULGED IN DISCOUNTING OF CHEQUE (PROVIDED CASH AND ACCEPTED CHEQUE FROM NON BANKING CHANNELS)
DEALT WITH UNREGISTERED INTERMEDIARIES
TRANSFERRED TRADES FROM ONE CLIENT TO ANOTHER CLIENT IN BACK OFFICE NOT ON EXCHANGE PLATFORM
|
SUSPENDED FROM MEMBERSHIP OF COMMODITY DERIVATIVES EXCHANGE(S)
PROHIBITED FROM ENTERING ANY FORWARD CONTRACT FOR SALE OR PURCHASE IN OWN NAME OR THROUGH ANOTHER MEMBER OF RECOGNISED ASSOCIATION OF ANY GOODS OR CLASS OF GOODS
DIRECTED TO REVIEW NOC GRANTED FOR SETTING UP A WHOLLY OWNED SUBSIDIARY ABROAD
26-JUL-2011
|
|
| 11 |
26-JUL-2011
|
|
|
RANK COMMODITIES PVT.LTD.
|
|
|
|
SUNIL S.MIRPURI
|
|
FMC |
DID NOT MAINTAIN BOOKS OF ACCOUNTS PROPERLY
USED CLIENT FUND FOR OWN PURPOSES
INDULGED IN UNAUTHORIZED TRANSFER OF FUNDS FROM ONE CLIENT TO ANOTHER CLIENT
RECEIVED MARGIN MONEY IN CASH FROM CLIENTS AND USED FOR DIRECTORS’ OWN BUSINESS ACTIVITY / CASH DEALING
TRANSFERRED PROFIT FROM ONE ACCOUNT TO VARIOUS ACCOUNTS
TRADED FOR CLIENT NOT REGISTERED AT EXCHANGE LEVEL
ENGAGED OR CARRIED OUT PORTFOLIO MANAGEMENT SERVICES
DID NOT MAINTAIN NETWORTH PRESCRIBED BY EXCHANGE FOR A MEMBER
SHARES BROKERAGE WITH A PERSON WHO WAS NOT AN APPROVED
TRANSFERRED SHARES OF WHOLLY OWNED SUBSIDIARY MEMBER TO OTHERS ENTITY
INDULGED IN MONEY LAUNDERING ACTIVITY
DEALT WITH PERSON WHO WAS FORBIDDEN TO DO BUSINESS BY MEMBER
INDULGED IN DISCOUNTING OF CHEQUE (PROVIDED CASH AND ACCEPTED CHEQUE FROM NON BANKING CHANNELS)
DEALT WITH UNREGISTERED INTERMEDIARIES
TRANSFERRED TRADES FROM ONE CLIENT TO ANOTHER CLIENT IN BACK OFFICE NOT ON EXCHANGE PLATFORM
|
RESTRAINED FROM ENTERING INTO ANY FORWARD CONTRACTS FOR SALE OR PURCHASE IN OWN NAME OR ANY OTHER MEMBER OF ANY RECOGNIZED COMMODITY EXCHANGE OF GOODS OR CLASS OF GOODS
DIRECTED TO REVIEW NOC GRANTED FOR SETTING UP A WHOLLY OWNED SUBSIDIARY ABROAD
26-JUL-2011
|
|
| 12 |
23-JUL-2011
|
|
|
NATIONAL MULTI COMMODITY EXCHANGE OF INDIA LTD.
|
|
|
FMC |
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
|
DIRECTED TO PLACE BEFORE BOD EVIDENCE REGARDING IRREGULARITIES IN ALLOTMENT OF SHARES OF NMCE TO NOL FOR CONVENING EXTRA- ORDINARY MEETING OF GENERAL BODY OF NMCE
DIRECTED TO TAKE APPROPRIATE LEGAL ACTION AGAINST MR.KAILASH RAMKISHAN GUPTA AND ARROW TOTAL SOLUTION PVT.LTD. TO RECOVER WRONGFUL AND ILLEGAL OVER PAYMENT
DIRECTED TO TAKE APPROPRIATE LEGAL ACTION TO RECOVER WRONGUL AND ILLEGAL PAYMENT OF RS.2.47 CRORE MADE TO KUSHAL ENTERPRISES
DIRECTED TO INITIATE LEGAL PROCEEDINGS TO RECOVER RS.3.53 CRORE BEING SUBSTANTIAL PAYMENTS MADE IN RESPECT OF CONSULTANCIES
DIRECTED TO INITIATE LEGAL PROCEEDINGS TO RECOVER RS.20.93 LACS FROM MR.KAILASH GUPTA
DIRECTED TO CALCULATE EXPENDITURE INCURRED ON VEHICLES PROVIDED TO MR.KAILASH GUPTA’S FAMILY MEMBERS
DIRECTED TO RECOVER FROM MR.KAILASH GUPTA ALL THE MONIES REIMBURSED TO HIS FAMILY MEMBERS FOR THEIR PERSONAL EXPENSES INCLUDING TRAVEL EXPENSES
DIRECTED TO IMMEDIATELY FILE CRIMINAL CASES AGAINST MR.KAILASH GUPTA FOR HIS VARIOUS CRIMINAL ACTS OF OMISSION & COMMISSION ELABORATED INVOLVING EMBEZZLEMENT OF NMCE FUNDS
DIRECTED TO IMMEDIATELY FILE FIR AGAINST MR.KAILASH GUPTA FOR PERPETRATING A FRAUD ON NMCE AND CLAIMING PAYMENTS FOR NON-EXISTENT SOFTWARE DEVELOPMENT AND SOFTWARE SERVICES
DIRECTED ENFORCEMENT DIVISION OF COMMISSION TO INITIATE LEGAL ACTION UNDER RELEVANT SECTIONS OF IPC AGAINST MR.KAILASH GUPTA FOR CAUSING FALSIFICATION, FABRICATION AND FORGERY OF TEN FALSE AGREEMENT
DIRECTED TO INITIATE ENQUIRY FOR VIOLATION OF PROVISION OF FEMA IN MAKING PAYMENT TO KUSHAL ENTERPRISES
DIRECTED NMCE TO TAKE APPROPRIATE DISCIPLINARY ACTION AGAINST CHARTERED ACCOUNTANT FOR NEGLIGENCE, DERELICTION OF DUTY AND LACK OF PROFESSIONAL INTEGRITY IN NOT NOTICING OR BRINGING TO NOTICE OF THE BOARD OF EXCHANGE OR TO FMC
DIRECTED TO IMMEDIATELY FILE FIR AGAINST MS.POONAM GUPTA NEE VERMA, MR.KAUSHIK GAURAV VERMA, MR.SUNEIL JAIN, MR.VISHAL AND MR.SHEKHAR SINGH FOR COMMON CONSPIRACY AND ILLEGAL TRESPASSING IN TO EXCHANGE PREMISES LATE NIGHT
23-JUL-2011
|
|
| 13 |
23-JUL-2011
|
|
|
NATIONAL MULTI COMMODITY EXCHANGE OF INDIA LTD.
|
|
|
|
KAILASH RAMKISHAN GUPTA
|
|
FMC |
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
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
