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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 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.

CDSL DEPOSITORY PARTICIPANTS: DIRECTED BSE, NSE, OTCEI AND THEIR CLEARING HOUSES NOT TO RELEASE FUNDS OR SECURITIES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person SUNCHAN SECURITIES LTD.   (Depository Participant : CDSL)
  DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

FAILED TO DELIVER SHARES TO CLIENTS

DID NOT MAKE PAYMENT TO CLIENTS

DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION

SUBMITTED WRONG INFORMATION TO SEBI

FAILED TO COMPLY WITH THE UNIQUE CLIENT CODE AS PRESCRIBED BY SEBI

DID NOT EXERCISE DUE CARE AND DILIGENCE IN CONDUCT OF ITS BUSINESS AS A BROKER  		DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 30-JAN-2009 TILL FURTHER ORDERS

DIRECTED DEPOSITORIES NOT TO GIVE EFFECT TO ANY TRANSFER OF SHARES

DIRECTED NOT TO ACT AS DEPOSITORY PARTICIPANT FROM 30-JAN-2009 TILL FURTHER ORDERS

DIRECTED BSE, NSE, OTCEI AND THEIR CLEARING HOUSES NOT TO RELEASE FUNDS OR SECURITIES

DIRECTED BSE, NSE, OTCEI AND THEIR CLEARING HOUSES TO SECURE ALL ASSETS INCLUDING REALIZATION OF BANK GUARANTEES

30-JAN-2009 		AD-INTERIM EX-PARTE ORDER DATED 30/01/2009 CONFIRMED

SEBI VIDE ITS ORDER DATED 23/04/2014 1.RESTRAINED SUNCHAN SECURITIES LTD.(SUNCHAN) AND ITS DIRECTORS MR.SUNIL MANSINGHANI, MS.KANCHAN MANSINGHANI, MR.ASHOK DASWANI, MR.SURENDRA GAMA YADAV AND COMPLIANCE OFFICER MR.RIYAZ ISMAIL SHAIKH FROM BUYING, SELLING OR DEALING IN SECURITIES MARKET IN ANY MANNER WHATSOEVER OR ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY FOR A PERIOD OF SEVEN YEARS 2.RESTRAINED ALL ITS DIRECTORS AND COMPLIANCE OFFICER FROM HOLDING POSITION OF DIRECTOR OR COMPLIANCE OFFICER IN ANY LISTED COMPANY OR BEING ASSOCIATED WITH ANY INTERMEDIARY OR ENTITY REGISTERED WITH SEBI FOR A PERIOD OF SEVEN YEARS 3.DIRECTED SUNCHAN AND ITS DIRECTORS AND COMPLIANCE OFFICER TO REPLENISH INVESTOR PROTECTION FUND (IPF) OF BSE TO THE EXTENT OF RS.1,86,93,149.00 AND IPF OF NSE TO THE EXTENT OF RS.2,58,32,823.72, I.E. AMOUNT DISBURSED FROM IPF TOWARDS CLAIMS OF INVESTORS OF SUNCHAN AS A STOCK BROKER 5.DIRECTED SUNCHAN AND ITS DIRECTORS TO COMPENSATE INVESTORS TO THE EXTENT THEIR CLAIMS WERE NOT FULLY MET OUT OF IPF OF RS.5,30,96,338.27 (RS.1,68,47,272.87 + RS.3,62,49,065.40) I.E. THE CLAIM ADMITTED LESS AMOUNT DISBURSED OUT OF IPF. SUNCHAN AND ITS DIRECTORS ARE JOINTLY AND SEVERALLY LIABLE TO MAKE THE PAYMENTS
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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