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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 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.

STOCK BROKERS: DELAYED/FAILED TO MAKE PAYMENT TO CLIENTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
21 
History of entity/person PREMIER SHARES LTD.  

(Member : NSE)
  DEALT WITH UN-REGISTERED SUB-BROKERS

ALLEGED FAILURE IN SEGREGATING CLIENTS FUNDS AND SECURITIES

ALLEGED MISUTILISATION OF CLIENTS FUNDS

ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS

ALLEGED FAILURE IN MAINTENANCE OF CLIENT DATABASE

ALLEGED INDULGENCE IN FUND-BASED ACTIVITIES BY LENDING MONEY TO OTHER CLIENTS

ALLEGED DELAY IN REDRESSAL OF COMPLAINTS

ALLEGED FAILURE IN APPOINTING A PERSON EXCLUSIVELY AS COMPLIANCE OFFICER

ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE & DILIGENCE IN CONDUCT OF BUSINESS

ALLEGED DELAY IN ISSUING CONTRACT NOTES

ALLEGED ISSUING CHEQUES TO CLIENTS WITH INSUFFICIENT FUNDS

ALLEGED EXECUTING LARGE NUMBER OF CASH TRANSACTIONS EXCEEDING PRESCRIBED CEILING LIMITS AND ENTERING INTO CASH TRANSACTIONS WHICH LACKED PROPER EXPLANATION  		REACHED SETTLEMENT (SETTLEMENT CHARGES RS.30,00,000 VIDE CONSENT ORDER)

01-JUN-2011
22 
History of entity/person PREMIER SHARES LTD.  

(Member : MCX)
  DEALT WITH UN-REGISTERED SUB-BROKERS

ALLEGED FAILURE IN SEGREGATING CLIENTS FUNDS AND SECURITIES

ALLEGED MISUTILISATION OF CLIENTS FUNDS

ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS

ALLEGED FAILURE IN MAINTENANCE OF CLIENT DATABASE

ALLEGED INDULGENCE IN FUND-BASED ACTIVITIES BY LENDING MONEY TO OTHER CLIENTS

ALLEGED DELAY IN REDRESSAL OF COMPLAINTS

ALLEGED FAILURE IN APPOINTING A PERSON EXCLUSIVELY AS COMPLIANCE OFFICER

ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE & DILIGENCE IN CONDUCT OF BUSINESS

ALLEGED DELAY IN ISSUING CONTRACT NOTES

ALLEGED ISSUING CHEQUES TO CLIENTS WITH INSUFFICIENT FUNDS

ALLEGED EXECUTING LARGE NUMBER OF CASH TRANSACTIONS EXCEEDING PRESCRIBED CEILING LIMITS AND ENTERING INTO CASH TRANSACTIONS WHICH LACKED PROPER EXPLANATION  		REACHED SETTLEMENT (SETTLEMENT CHARGES RS.30,00,000 VIDE CONSENT ORDER)

01-JUN-2011
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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