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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.

PERSONS: DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person SANJAY GUPTA

(PAN:AAHPG3047Q)  
History of entity/person OPG SECURITIES PVT.LTD.

(PAN:AAACO1081C)
  		GAINED ADVANTAGE BY CONSISTENTLY LOGGED IN FIRST ACROSS POP SERVERS ON ACCOUNT OF BEING AWARE OF THE WEAKNESS OF THE TCP/IP TBT SYSTEM ARCHITECTURE

TRIED TO CROWD OUT OTHER TRADING MEMBERS FROM TCP/IP TBT SYSTEM PLATFORM

GAINED UNFAIR ACCESS AND ADVANTAGE BY CONSISTENTLY LOGGING INTO SECONDARY POP SERVER FOR LARGE NUMBER OF DAYS VIOLATING CLAUSES A(1), A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9 OF SEBI (STOCK BROKERS) REGULATIONS, 1992 IN MATTER OF OPG SECURITIES LTD.  		DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-APR-2024 TO 29-OCT-2024

DEBARRED FROM UNDERTAKING FRESH BUSINESS AS STOCK BROKER FROM 30-APR-2024 TO 29-OCT-2024

DIRECTED TO DISGORGE RS.77,75,46,000 ALONG WITH OTHER ENTITIES/PERSONS


DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

30-APR-2019 		SEBI VIDE ITS ORDER DATED 03/05/2019 ALLOWED OPG SECURITIES PVT.LTD. AND ITS DIRECTORS TO CLOSE OPEN POSITIONS IN FUTURES AND OPTIONS AND CURRENCY DERIVATIVES SEGMENTS OF OPG SECURITIES PVT.LTD. ON OR BEFORE EXPIRY DATE OF RESPECTIVE CONTRACTS OR WITHIN TWO MONTHS FROM 30/04/2019 WHICHEVER IS EARLIER

SAT: SAT VIDE ITS ORDER DATED 20/05/2019 MODIFIED ITS ORDER DATED 06/05/2019 TO THE EXTENT THAT APPELLANTS MAY DEPOSIT RS.7.50 CRORES IN CASH OR IN THE FORM OF BANK GUARANTEE FROM NATIONALIZED BANK ON OR BEFORE 30/05/2019

SAT: SAT VIDE ITS ORDER DATED 23/01/2023 PARTLY ALLOWED THE APPEAL AND SET ASIDE DIRECTIONS TO DISGORGE RS.15.57 CRORE ALONG WITH INTEREST @12% P.A. FROM 07/04/2014 ONWARDS AND MATTER REMITTED TO WTM TO DECIDE THE QUANTUM OF DISGORGEMENT AFRESH WITHIN FOUR MONTHS FROM DATE OF THIS ORDER. IN ADDITION DIRECTED WTM TO CONSIDER THE CHARGE OF CONNIVANCE AND COLLUSION OF OPG SECURITIES LTD. AND ITS DIRECTORS WITH ANY EMPLOYEE/OFFICIALS OF NSE.

SAT: SAT VIDE ITS ORDER DATED 14/02/2024 ALLOWED RESPONDENT ONE WEEK TO FILE REPLY

SAT: SAT VIDE ITS ORDER DATED 08/03/2024 DIRECTED SEBI TO GIVE FINAL OPPORTUNITY OF INSPECTION OF DOCUMENTS AND CROSS-EXAMINATION OF WITNESSES TO APPELLANTS. DIRECTED APPELLANTS TO APPEAR BEFORE WTM ON 15/03/2024 ON WHICH DATE THE APPELLANTS WILL BE PROVIDED FINAL OPPORTUNITY OF CROSS-EXAMINATION AND INSPECTION

SAT: SAT VIDE ITS ORDER DATED 15/03/2024 ACCEPTED PRAYER OF THE APPLICANT AND SCHEDULE LAID DOWN IS MODIFIED AS A) CROSS-EXAMINATION OF ORIGINAL APPELLANTS/OPG SECURITIES PVT.LTD. MAY TAKE PLACE FOR THREE HOURS EACH DAY UPTO SEVEN DAYS ON ANY DAYS BETWEEN 09/04/2024 TO 22/04/2024 B) FINAL HEARING BEFORE WTM MAY TAKE PLACE BETWEEN 01/05/2024 TO 10/05/2024 C) SEBI GIVEN TIME UPTO 30/06/2024 TO COMPLETE PROCEEDINGS INITIATED PURSUANT TO THE DIRECTION OF THIS TRIBUNAL IN PARA 266(G) TO (I) OF ORDER DATED 23/01/2023 IN APPEAL NO.184 OF 2019

SAT: SAT VIDE ITS ORDER DATED 24/06/2024 DISMISSED THE APPEAL. DIRECTED SEBI TO GRANT TWO DAYS TO APPELLANT TO COMPLETE THE SUBMISSIONS WITHIN OUTER LIMIT OF TWO WEEKS FROM DATE OF THIS ORDER. GRANTED APPELLANTS TWO WEEKS AFTER CONCLUSION OF HEARING TO FILE THEIR WRITTEN SUBMISSION AND SEBI TO PASS FINAL ORDER WITHIN EIGHT WEEKS THEREFROM

SEBI VIDE ITS ORDER DATED 13/09/2024 A) COMPLIANCE WITH THE ORDERS PASSED BY HON’BLE SAT DATED 23/01/2023, 09/06/2023, 01/12/2023, 08/03/2024, 15/03/2024, 15/05/2024 AND 24/06/2024 A) DIRECTED TO DISGORGE RS.8,525.46 LAC JOINTLY AND SEVERALLY ALONG WITH INTEREST @12% P.A. FROM 22/05/2015 TILL THE DATE OF PAYMENT B) IN CASE NOTICE HAVE DEPOSITED RS.7.5 CRORE WITH SEBI IN COMPLIANCE WITH DIRECTIONS OF HON’BLE SAT, TOTAL AMOUNT PAYABLE (EXCLUDING INTEREST) BY NOTICEES WILL BE RS.7,775.46 LAC (RS.8,525.46 LAC – RS.750 LAC). INTEREST TO BE CHARGED ON RS.7.50 CRORE FROM 22/05/2015 TO DATE OF DEPOSIT MADE WITH SEBI AND INTEREST ON THE REMAINING AMOUNT OF RS.7,775.46 LACS TO BE CHARGED FROM 22/05/2015 TILL DATE OF ITS PAYMENT C) PROHIBITED FROM ACCESSING SECURITIES MARKET AND FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET EITHER DIRECTLY OR INDIRECTLY FOR SIX MONTHS. DEBARMENT SHALL BE IN ADDITION TO DEBARMENT OF FIVE YEARS AS DIRECTED VIDE 2019 SEBI OPG ORDER AND WILL START AFTER PERIOD OF INITIAL DEBARMENT OF FIVE YEARS GETS OVER B) DURING THE PERIOD OF RESTRAINT, EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS TO REMAIN FROZEN
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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