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 : 04-NOV-2026

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.

MERCHANT BANKERS: ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

181

GSL SECURITIES LTD.

(PAN:AAACG1845Q
CIN:L65990MH1994PLC077417)

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998

16-OCT-1998

182

GUINESS CORPORATE ADVISORS PVT.LTD.

(PAN:AAHCS5232N)

DID NOT EXERCISE DUE DILIGENCE WITH RESPECT TO DISCLOSURES MADE IN PROSPECTUS OF ECO FRIENDLY FOOD PROCESSING PARK LTD., ESTEEM BIO ORGANIC FOOD PROCESSING LTD., CHANNEL NINE ENTERTAINMENT LTD. AND HPC BIOSCIENCES LTD.VIOLATING CLAUSES 1,3,4, 6 AND 7 OF CODE OF CONDUCT UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992

DID NOT EXERCISE DUE DILIGENCE WITH RESPECT TO DISCLOSURES MADE IN PROSPECTUS OF ECO FRIENDLY FOOD PROCESSING PARK LTD., ESTEEM BIO ORGANIC FOOD PROCESSING LTD., CHANNEL NINE ENTERTAINMENT LTD. AND HPC BIOSCIENCES LTD.VIOLATING REGULATION 64(1) OF SEBI ICDR REGULATIONS, 2009

IMPOSED PENALTY RS.5,00,000

04-DEC-2019

183

GUJARAT CAPITAL VENTURES LTD.

DID NOT SUBMIT EMPLOYEE DATABASE

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 02-SEP-1998

02-SEP-1998

184

GUJARAT FISCON LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 13-AUG-1998

17-AUG-1998

185

GUJARAT STATE INVESTMENTS LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-DEC-1997

08-JAN-1998

186

GURJAR FINANCIAL SERVICES PVT.LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 31-DEC-1997

08-JAN-1998

187

GURUNATH MUDLAPUR

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ATHERSTONE CAPITAL MARKETS LTD.

PAN:AAGCA1449J

DID NOT MAKE PROPER DISCLOSURE AND MADE MIS-STATEMENTS OF RELATED PARTIES IN PROSPECTUS

DID NOT EXERCISE DUE DILIGENCE IN IPO OF ONELIFE CAPITAL ADVISORS LTD.

PROHIBITED FROM TAKING UP ANY NEW ASSIGNMENT AS DEBENTURE TRUSTEE OR INVOLVEMENT IN ANY NEW ISSUE OF CAPITAL INCLUDING IPO, FOLLOW-ON ISSUE FROM 28-DEC-2011 TILL FURTHER ORDERS

28-DEC-2011

SEBI VIDE ITS ORDER DATED 16/01/2013 CONFIRMED ITS DIRECTIONS ISSUED IN PARAGRAPHS 14.3, 14.4, 14.5, 14.6, 14.8 AND 14.9 OF EX-PARTE ORDER DATED 28/12/2011 READ WITH ORDER DATED 15/02/2012

188

H.BALDEV & CO.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-DEC-1997

08-JAN-1998

189

HARYANA STATE INDUSTRIAL DEVELOPMENT CORP.LTD.

DID NOT ENSURE TIMELY DESPATCH OF SHARE CERTIFICATE TO AN NRI INVESTOR IN PUBLIC ISSUE OF NARAIN JEWELS INTERNATIONAL LTD.

CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS

01-DEC-2000

190

HDFC BANK LTD.

(PAN:AAACH2702H)

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-FEB-1998

20-AUG-1998

191

HINDUJA TMT LTD.

SOLOMON RAJ

IRREGULARITIES IN RIGHTS ISSUE OF SUBHASH PROJECTS & MARKETING LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 11-JAN-2003 TO 10-JAN-2005

11-JAN-2003

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

192

HINDUSTAN STOCKLAND LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUES OF RITESH POLYESTERS LTD.

SUSPENDED REGISTRATION AS MERCHANT BANKER FOR UNDERWRITING FROM 29-MAY-1997 TO 28-MAY-1999

29-MAY-1997

193

HITESH CHOKSI

JOLLY LEASING & FINSTOCK LTD.

ACCEPTED APPLICATIONS ACCOMPANIED BY ANTE-DATED STOCKINVESTS AFTER CLOSURE OF ISSUE AND ALLOTED SHARES IN PUBLIC ISSUE OF ELVIS INDIA LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-SEP-2002 TO 29-SEP-2004

16-SEP-2002

194

HOFFLAND FINANCE LTD.

NOT AVAILABLE

DEBARRED FROM UNDERTAKING FRESH BUSINESS AS PORTFOLIO MANAGER FROM 29-JAN-1998

DEBARRED FROM UNDERTAKING FRESH BUSINESS AS MERCHANT BANKER FROM 29-JAN-1998

DIRECTED NOT TO LAUNCH ANY NEW SCHEMES FROM 29-JAN-1998

29-JAN-1998

195

HOFFLAND FINANCE LTD.

(Member : BGSE/JSE)

A.SUBBA RAO

BRIJ BHUSHAN SHARMA

BRIJ KISHORE KAPUR

JAGDISH NARAYAN

M.N.PADAM

NAVEEN CHANDRA PANDEY

NAVIN PANDEY

PRAMODH KAPUR

SURAJ PAL SHARMA

VIOLATED SECTION 26 OF SEBI ACT, 1992

VIOLATED SEBI ACT, 1992

VIOLATED SEBI (PORTFOLIO MANAGERS) REGULATIONS, 1993

ALLEGED VIOLATION OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992

VIOLATED SEBI (PFUTP) REGULATIONS, 1995

VIOLATED SEBI (MERCHANT BANKER) REGULATIONS, 1992

PROSECUTION LAUNCHED

15-MAY-2006

A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM

A1 AND A2 CONVICTED. A3 ACQUITTED. A4 EXPIRED, THUS, PROCEEDINGS ABATED. PROCEEDINGS AGAINST A5 QUASHED. A6 DECLARED PO. A7 COMPOUNDED (VIDE ORDER DT.21.02.2008). FILE BE CONSIGNED TO RECORD ROOM.

DURING THE TRIAL A21 (SHRI ASHOK KUMAR KOHLI) HAD EXPIRED, THEREFORE, PROCEEDINGS QUA HIM WAS ABATED. ACCUSED NO.20 (M/S EVERGROW FINANCIAL SERVICES PVT.LTD.) AND A22 ( SHRI PRADEEP SHARMA) FACED THE TRIAL AND THEY REMAINING ACCUSED WERE DECLARED POS. THE CAPTIONED MATTER WAS POSTED BEFORE THE LD. COURT ON JULY 30, 2012 FOR PRONOUNCEME NT OF JUDGMENT. AFTER RECORDING ITS REASONS THE COURT HELD THAT SEBI COULD NOT PROVE ITS CASE AGAINST A20 AND A22 BEYOND THE SHADOW OF ALL REASONABLE DOUBTS, AND THEREBY ACQUITTED A20 AND A22

196

HOFFLAND FINANCE LTD.

VIOLATED SEBI ACT, RULES & REGULATIONS

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 09-SEP-1998

09-SEP-1998

197

HSBC SECURITIES & CAPITAL MARKETS (INDIA) PVT.LTD.

JASMINE BATLIWALA

K.BALAKRISHNAN

VIOLATED SEBI TAKEOVER REGULATIONS IN CASE OF OPEN OFFER OF MODI RUBBER LTD.

NOT ACTED NEGLIGENTLY WARRANTING IMPOSITION OF PENALTY

09-DEC-2003