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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.

STOCK EXCHANGES: PERMITTED DRAINING OF EXCHANGE'S RESOURCES

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person MANGALORE STOCK EXCHANGE LTD.  
History of entity/person ASHISH PARIKH
History of entity/person NAMITHA W.PAIS
History of entity/person T.MALLIKARJUNAPPA
  		DID NOT ADHERE TO STATED INVESTMENT POLICY/DIRECTIVES/INSTRUCTIONS/GUIDELINES OF THE EXCHANGE

DRAIN ON EXCHANGE'S RESOURCES

DID NOT RECTIFY LACUNAE IN TRADING SOFTWARE

FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE

HUGE GAP BETWEEN RESOURCES CURRENTLY AVAILABLE AND REQUIREMENTS IN TERMS OF MANPOWER, MATERIAL ETC, TO FUNCTION AS STOCK EXCHANGE

LAPSES IN BASIC FUNCTIONS AND INSTANCES OF NON-INITIATION OF EFFECTIVE STEPS FOR THE GENERAL FUNCTIONING AND ADMINISTRATION OF THE EXCHANGE IN TERMS OF THE PROVISIONS OF SEBI DIRECTIVES, CIRCULARS, SC(R)A AND THE SC(R)R

WEAK OPERATIONAL MANAGEMENT

MISUSE OF POSITION BY ELECTED DIRECTORS  		REJECTED APPLICATION FOR RENEWAL OF RECOGNITION AS STOCK EXCHANGE

31-AUG-2004 		SAT: APPEAL MAINTAINABLE

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

SEBI VIDE ITS ORDER DATED 03/03/2014 ALLOWED THE EXIT OF MANGALORE STOCK EXCHANGE AS A STOCK EXCHANGE SUBJECT TO FULLFILMENT OF CERTAIN DIRECTIONS AS PER ORDER
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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