| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
ESHA SECURITIES LTD.
(Member : DSE)
|
|
|
DEFICIENCIES IN CLIENT DATABASE
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT AFFIX STAMPS ON CONTRACT NOTES
DID NOT ISSUANCE OF CONTRACT NOTES IN TIME
DID NOT SUBMIT COPIES OF CONTRACT NOTES FOR INSPECTION
DID NOT MAINTAIN DESPATCH RECORDS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEALT WITH UN-REGISTERED SUB-BROKERS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
DID NOT APPOINT COMPLIANCE OFFICER
DELAYED SUBMISSION OF BROKER'S DATABASE TO INSPECTING AUTHORITY
EXECUTED TRADES IN FICTITIOUS NAMES
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN THE CONSTITUTION OF BOARD OF DIRECTORS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
EXCEEDED PERMISSIBLE TURNOVER LIMITS AT STOCK EXCHANGE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 20-JUN-2006 TO 19-DEC-2006
30-MAY-2006
|
|
| 2 |
|
|
KORP SECURITIES LTD.
(Member : NSE)
|
|
|
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DIFFERENCES BETWEEN CLIENT LEDGER AND TRADE REPORT AS TRANSACTIONS CARRIED ON IN NAME OF A DIFFERENT CLIENT AND RECORDED IN BACK-OFFICE IN NAME OF ANOTHER CLIENTS
SAUDAS BEING PUNCHED IN THE BACK-OFFICE WITHOUT ACTUAL TRANSACTIONS BEING CARRIED OUT AT THE TERMINAL
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN SHAREHOLDING OF THE COMPANY
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JAN-2006 TO 16-JUL-2006
27-DEC-2005
|
|
| 3 |
|
|
NIKHIL KUMAR DHIRAJLAL SHAH
(Member : ASE)
|
|
|
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN STATUS AND CONSTITUTION OF FIRM/COMPANY
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 30-JUL-2001 TO 29-SEP-2001
24-JUL-2001
|
|
| 4 |
|
|
SMC GLOBAL SECURITIES LTD.
(Member : NSE)
|
|
|
ALLEGED FAILURE IN MAINTAINING HIGH STANDARDS OF INTEGRITY, PROMPTITUDE AND FAIRNESS IN CONDUCT OF BUSINESS AND DID NOT ACT WITH DUE SKILL, CARE AND DILIGENCE
ALLEGED PORTRAYAL OF NEGATIVE AND BEARISH OUTLOOK OF MARKET TO ITS CLIENTS
ALLEGED LARGE SCALE UNAUTHORIZED DISTRIBUTION OF TERMINALS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED FAILURE IN EXERCISING DUE CAUTION WHILE EXECUTING LARGE ORDERS ON BEHALF OF CLIENT
ALLEGED PROPRIETARY TRADING FROM MORE THAN ONE LOCATION
ALLEGED UNAUTHORIZED PERSONS OPERATING PROPRIETARY ACCOUNT ACTIVATED TERMINALS
ALLEGED UNAUTHORIZED DIVERSION OF BROKERAGE INCOME
ALLEGED DEALING THROUGH MORE THAN ONE BROKER AND NOT REPORTED OFF-THE-FLOOR TRANSACTIONS TO EXCHANGE
ALLEGED FAILURE IN COLLECTION OF MARGIN FROM CLIENTS
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED PLACING OF ADVERTISEMENTS IN NEWSPAPERS SOLICITING BUSINESS
ALLEGED CHANGE OF CONSTITUTION WITHOUT PRIOR PERMISSION FROM SEBI
ALLEGED NON-DISCLOSURE OF PROPRIETARY TRADING TO CLIENTS
ALLEGED DEALING WITH SUB BROKERS NOT HAVING GOOD FINANCIAL STANDING
ALLEGED IRREGULARITIES IN ISSUE OF PREFERENCE SHARE CAPITAL
ALLEGED NON-MAINTENANCE OF GENERAL CORRESPONDENCE FILE
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
08-AUG-2008
|
|
| 5 |
|
|
SMC GLOBAL SECURITIES LTD.
(Member : OTC)
|
|
|
ALLEGED FAILURE IN MAINTAINING HIGH STANDARDS OF INTEGRITY, PROMPTITUDE AND FAIRNESS IN CONDUCT OF BUSINESS AND DID NOT ACT WITH DUE SKILL, CARE AND DILIGENCE
ALLEGED PORTRAYAL OF NEGATIVE AND BEARISH OUTLOOK OF MARKET TO ITS CLIENTS
ALLEGED LARGE SCALE UNAUTHORIZED DISTRIBUTION OF TERMINALS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED FAILURE IN EXERCISING DUE CAUTION WHILE EXECUTING LARGE ORDERS ON BEHALF OF CLIENT
ALLEGED PROPRIETARY TRADING FROM MORE THAN ONE LOCATION
ALLEGED UNAUTHORIZED PERSONS OPERATING PROPRIETARY ACCOUNT ACTIVATED TERMINALS
ALLEGED UNAUTHORIZED DIVERSION OF BROKERAGE INCOME
ALLEGED DEALING THROUGH MORE THAN ONE BROKER AND NOT REPORTED OFF-THE-FLOOR TRANSACTIONS TO EXCHANGE
ALLEGED FAILURE IN COLLECTION OF MARGIN FROM CLIENTS
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED PLACING OF ADVERTISEMENTS IN NEWSPAPERS SOLICITING BUSINESS
ALLEGED CHANGE OF CONSTITUTION WITHOUT PRIOR PERMISSION FROM SEBI
ALLEGED NON-DISCLOSURE OF PROPRIETARY TRADING TO CLIENTS
ALLEGED DEALING WITH SUB BROKERS NOT HAVING GOOD FINANCIAL STANDING
ALLEGED IRREGULARITIES IN ISSUE OF PREFERENCE SHARE CAPITAL
ALLEGED NON-MAINTENANCE OF GENERAL CORRESPONDENCE FILE
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
08-AUG-2008
|
|
| 6 |
|
|
SMC GLOBAL SECURITIES LTD.
(Member : LSE)
|
|
|
ALLEGED FAILURE IN MAINTAINING HIGH STANDARDS OF INTEGRITY, PROMPTITUDE AND FAIRNESS IN CONDUCT OF BUSINESS AND DID NOT ACT WITH DUE SKILL, CARE AND DILIGENCE
ALLEGED PORTRAYAL OF NEGATIVE AND BEARISH OUTLOOK OF MARKET TO ITS CLIENTS
ALLEGED LARGE SCALE UNAUTHORIZED DISTRIBUTION OF TERMINALS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED FAILURE IN EXERCISING DUE CAUTION WHILE EXECUTING LARGE ORDERS ON BEHALF OF CLIENT
ALLEGED PROPRIETARY TRADING FROM MORE THAN ONE LOCATION
ALLEGED UNAUTHORIZED PERSONS OPERATING PROPRIETARY ACCOUNT ACTIVATED TERMINALS
ALLEGED UNAUTHORIZED DIVERSION OF BROKERAGE INCOME
ALLEGED DEALING THROUGH MORE THAN ONE BROKER AND NOT REPORTED OFF-THE-FLOOR TRANSACTIONS TO EXCHANGE
ALLEGED FAILURE IN COLLECTION OF MARGIN FROM CLIENTS
ALLEGED DISCREPANCIES IN KNOW YOUR CLIENT FORMS
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED PLACING OF ADVERTISEMENTS IN NEWSPAPERS SOLICITING BUSINESS
ALLEGED CHANGE OF CONSTITUTION WITHOUT PRIOR PERMISSION FROM SEBI
ALLEGED NON-DISCLOSURE OF PROPRIETARY TRADING TO CLIENTS
ALLEGED DEALING WITH SUB BROKERS NOT HAVING GOOD FINANCIAL STANDING
ALLEGED IRREGULARITIES IN ISSUE OF PREFERENCE SHARE CAPITAL
ALLEGED NON-MAINTENANCE OF GENERAL CORRESPONDENCE FILE
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
08-AUG-2008
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
