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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – CONSENT ORDERS/ PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS
PERIOD COVERED : 30-OCT-2007 TO 13-JUL-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.

SUB-BROKERS: UNAUTHORISED OPERATIONS ON EXCHANGE TERMINALS

S.No. ENTITY DIRECTORS/ PERSONS  REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person RAJEEV BANSAL,M/S  

(Sub-Broker of BANSAL SHAREVEST SERVICES LTD. , Member : NSE)
History of entity/person RAJEEV BANSAL
  		EXECUTED SINGLE TRADES AT EXCHANGE TO ASCERTAIN PRICES FOR EXECUTING BULK ORDERS ILLEGALLY OUTSIDE THE EXCHANGE MECHANISM

ALLOWED TERMINAL TO UNAUTHORISED USERS

ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION

DID NOT MAINTAIN CLIENT AGREEMENTS

DID NOT MAINTAIN CLIENT REGISTRATION FORMS

COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE  		CANCELLED REGISTRATION AS SUB-BROKER FROM 18-JUL-2006

26-JUN-2006

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.1,00,000 VIDE CONSENT ORDER)

31-JUL-2008 		SAT: IMPUGNED ORDER MODIFIED WITH NO ORDER AS TO COST AS APPELLANT AGREED TO CONSENT ORDER DATED 31/07/2008  
2
History of entity/person SUMEET GARG,M/S  

(Sub-Broker of BANSAL SHAREVEST SERVICES LTD. , Member : NSE)
History of entity/person SUMEET GARG
  		ILLEGAL AND UNAUTHORIZED GRANT OF TRADING TERMINAL TO CLIENT  SUSPENDED REGISTRATION AS SUB-BROKER FROM 18-JUL-2006 TO 17-JUL-2008

27-JUN-2006

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000, LEGAL EXPENSES RS.50,000 VIDE CONSENT ORDER)

31-JUL-2008 		SAT: IMPUGNED ORDER MODIFIED WITH NO ORDER AS TO COST AS APPELLANT AGREED TO CONSENT ORDER DATED 31/07/2008  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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