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

301

MUKTA FINVEST PVT.LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 04-MAY-1998

08-MAY-1998

302

NAFCON FINANCIAL SERVICES LTD.

(CIN:U65993DL1992PLC049693)

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-OCT-1998

08-OCT-1998

303

NAREN V.SHETH

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NAREN V.SHETH,M/S

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 22-SEP-1998 TILL THE REMAINING PERIOD OF REGISTRATION

29-SEP-1998

304

NAREN V.SHETH

NAREN V.SHETH,M/S

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 31-DEC-1998

26-FEB-1999

305

NAREN V.SHETH,M/S

NAREN V.SHETH

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 31-DEC-1998

26-FEB-1999

306

NAREN V.SHETH,M/S

NAREN V.SHETH

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 22-SEP-1998 TILL THE REMAINING PERIOD OF REGISTRATION

29-SEP-1998

307

NATH CAPITAL & FINANCIAL SERVICES LTD.

DID NOT SUBMIT EMPLOYEE DATABASE

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 04-AUG-1998

10-AUG-1998

308

NATIONAL CAPITAL MANAGEMENT PVT.LTD.

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-FEB-1999

26-MAR-1999

309

NAVEEN CHANDRA PANDEY

HOFFLAND FINANCE LTD.

(Member : BGSE/JSE)

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

PARTLY COMPOUNDED FOR RS.10000

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

310

NAVIN PANDEY

HOFFLAND FINANCE LTD.

(Member : BGSE/JSE)

VIOLATED SECTION 26 OF 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.

311

NAVINCHANDRA NARBHERAM PAREKH

(DIN:00009547)

NH SECURITIES LTD.

PAN:AAACS7140Q

(Member : NSE)

PANTHER FINCAP & MANAGEMENT SERVICES LTD.

PAN:AAACP3045P

INDULGED IN PRICE MANIPULATION IN SCRIP OF GLOBAL TRUST BANK LTD.

INDULGED IN CREATION OF ARTIFICIAL MARKET IN SCRIP OF GLOBAL TRUST BANK LTD.

PARKED SHARES TO CIRCUMVENT SEBI TAKEOVER CODE, 1997

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 06-JUN-2003 TILL INVESTIGATIONS COMPLETED

06-JUN-2003

312

NAVINCHANDRA NARBHERAM PAREKH

(DIN:00009547)

NH SECURITIES LTD.

PAN:AAACS7140Q

(Member : BSE/NSE)

PANTHER FINCAP & MANAGEMENT SERVICES LTD.

PAN:AAACP3045P

VIOLATED SEBI ACT, 1992

VIOLATED SEBI (PFUTP) REGULATIONS, 1995

PROSECUTION LAUNCHED

15-MAY-2006

DISMISSED

ACCUSED NO.2 KARTIK KIRTIKUMAR PAREKH AND ACCUSED NO.5 KETAN VINAYCHANDRA PAREKH RESPECTIVELY ARE HEREBY HELD GUILTY ARE HEREBY SENTENCED TO UNDERGO RIGOROUS IMPRISONMENT FOR THREE YEARS AND SHALL FURTHER PAY A FINE OF RS.5,00,000.00 EACH ACCUSED NO.3 NAVINCHANDRA NARBHERAM PAREKH AND ACCUSED NO.4 KIRTIKUMAR NARBHERAM PAREKH ARE HEREBY ACQUITTED

313

NCJ INTERNATIONAL LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUE OF BSM KNIT FAB INDIA LTD.

DID NOT FULFILL UNDERWRITING OBLIGATION IN PUBLIC ISSUE OF ELQUE POLYSTERS LTD.

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 24-APR-1998

05-MAY-1998

314

NICHE FINANCIALS LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-JUN-1998

27-JUL-1998

315

NINAD B.KARPE & CO.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-DEC-1997

08-JAN-1998

316

NOUVEAU FINANCE LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION