| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
HB SECURITIES LTD.
(Along with : CREDITCAPITAL ASSET MANAGEMENT CO.LTD.)
|
|
|
MULTIPLE LEGAL PROCEEDINGS PENDING AGAINST THE COMPANY
DID NOT FULFIL NET WORTH CRITERIA
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
08-OCT-2004
|
SEBI GRANTED PORTFOLIO MANAGER LICENSE ON 01/11/2005
|
| 22 |
|
|
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
|
|
| 23 |
|
|
J.M.SHARE & STOCK BROKERS LTD.
|
|
|
REGISTRATION EXPIRED
DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION
|
CANCELLED REGISTRATION AS PORTFOLIO MANAGER
14-JUL-1999
|
|
| 24 |
|
|
J.P.KUNDRA
|
|
|
|
CREDITCAPITAL ASSET MANAGEMENT CO.LTD.
|
|
MULTIPLE LEGAL PROCEEDINGS PENDING AGAINST THE COMPANY
DID NOT FULFIL NET WORTH CRITERIA
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
08-OCT-2004
|
SEBI GRANTED PORTFOLIO MANAGER LICENSE ON 01/11/2005
|
| 25 |
|
|
JAI SINGH
|
|
|
|
CREDITCAPITAL ASSET MANAGEMENT CO.LTD.
|
|
MULTIPLE LEGAL PROCEEDINGS PENDING AGAINST THE COMPANY
DID NOT FULFIL NET WORTH CRITERIA
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
08-OCT-2004
|
SEBI GRANTED PORTFOLIO MANAGER LICENSE ON 01/11/2005
|
| 26 |
|
|
KARVY CAPITAL LTD.
(PAN:AAACG4544N)
|
|
|
INVESTED FUNDS OF ITS PMS CLIENTS IN NCDS STRUCTURED AND FACILITATED BY ITSELF AND WITHOUT DISCLOSING ABOUT THE SAME TO ITS CLIENTS VIOLATING REGULATIONS 13, 14 AND 15(4) READ WITH CLAUSES 1 AND 3 OF SCHEDULE III AND IV OF SEBI (PORTFOLIO MANAGER) REGULATIONS, 1993 IN MATTER OF NCD ISSUED BY UTKARSH SMALL FINANCE BANK LTD.
|
IMPOSED PENALTY RS.1,50,000
25-APR-2023
|
|
| 27 |
|
|
KARVY CAPITAL LTD.
(PAN:AAACG4544N)
|
|
|
|
KEDAR RAMESH DESHPANDE
PAN:AAMPD7153P
|
|
KEPT OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES OF SECURITIES AFFECTED IN A DAY
INVESTED CORPUS REDUCED BELOW RS.25 LAC
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
OUTSOURCED CORE ACTIVITIES
DID NOT OBTAIN REGISTRATION WITH CENTRAL KYC RECORDS REGISTRY (CKYCR) AND DID NOT UPLOAD KYC DATA OF CLIENTS WITH CKYCR
DID NOT MAKE DISCLOSURE OF DETAILS OF PENALTIES/PENDING LITIGATION OR PROCEEDINGS
|
IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-MAR-2023
|
|
| 28 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
|
|
|
|
COMANDUR PARTHASARATHY
PAN:AAFPC7617L
|
|
|
VIKAS RAJPAL
PAN:BDOPR9829J
|
|
DID NOT APPOINT QUALIFIED OR EXPERIENCED PRINCIPAL OFFICER
MADE CONTRARY PROVISIONS WITH REGARD TO PLACEMENT FEE IN DISCLOSURE DOCUMENT
DID NOT SUBMIT PORTFOLIO MANAGEMENT AGREEMENT WITH REGARD TO OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
DID NOT PROVIDE DETAILS OF PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTION OR INVESTIGATIONS FOR WHICH ACTION HAD BEEN TAKEN OR INITIATED BY ANY REGULATORY AUTHORITY
DID NOT KEEP OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES EFFECTED IN DAY
DID NOT RECTIFY DEFICIENCIES MENTIONED IN AUDITOR’S REPORT
DID NOT MAINTAIN AND PROVIDE PROPER INFORMATION OF REDRESSAL OF COMPLAINTS
|
IMPOSED PENALTY RS.8,00,000
15-NOV-2022
|
|
| 29 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
|
|
|
DID NOT APPOINT QUALIFIED OR EXPERIENCED PRINCIPAL OFFICER
MADE CONTRARY PROVISIONS WITH REGARD TO PLACEMENT FEE IN DISCLOSURE DOCUMENT
DID NOT SUBMIT PORTFOLIO MANAGEMENT AGREEMENT WITH REGARD TO OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
DID NOT PROVIDE DETAILS OF PENALTIES, PENDING LITIGATION OR PROCEEDINGS, FINDINGS OF INSPECTION OR INVESTIGATIONS FOR WHICH ACTION HAD BEEN TAKEN OR INITIATED BY ANY REGULATORY AUTHORITY
DID NOT KEEP OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES EFFECTED IN DAY
DID NOT RECTIFY DEFICIENCIES MENTIONED IN AUDITOR’S REPORT
|
SUSPENDED REGISTRATION AS PORTFOLIO MANAGER FROM 30-NOV-2022 TO 29-DEC-2022
30-NOV-2022
|
|
| 30 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
|
|
|
ALLEGED INDULGENCE IN MANAGEMENT OF FUNDS IN MANNER WHICH PARTAKES CHARACTER OF MUTUAL FUND
ALLEGED NOT TAKEN INTO ACCOUNT CLIENT NEEDS WHILE MANAGING CLIENT PORTFOLIO
ALLEGED USED TERM ‘SCHEME’ IN VARIOUS PLACES, INCLUDING IN AGREEMENT AND DISCLOSURE DOCUMENT
ALLEGED KYC OF CERTAIN CLIENTS FOUND TO BE INCOMPLETE
ALLEGED DID NOT PROVIDE ACTUAL AMOUNT OF FEES PAYABLE BY CLIENT AND FROZEN CLIENT’S ACCOUNTS AND NOT MANAGED FUNDS OF CLIENT
ALLEGED NOT ACT IN FIDUCIARY CAPACITY WITH REGARD TO CLIENT'S FUNDS, NOT OBSERVED HIGH STANDARDS OF INTEGRITY AND FAIRNESS IN CONDUCT OF BUSINESS AND NOT RENDERED HIGH STANDARDS OF SERVICE
ALLEGED NOT UPLOADED EXISTING KYC WITH KRA
ALLEGED IMPOSED A LOCK-IN ON CLIENT'S FUNDS AND DID ALLOW CLIENTS TO WITHDRAW THEIR ASSETS BY VOLUNTARILY TERMINATING THE AGREEMENT
ALLEGED NOT DISCLOSE VARIOUS ACTIONS INITIATED/TAKEN BY SEBI AGAINST KSBL AND ITS ASSOCIATES IN DISCLOSURE DOCUMENT AND DISCLOSED THOSE PRODUCTS WHICH WEE NOT BEING OFFERED TO CLIENT
ALLEGED MISLED CLIENTS ON PERFORMANCE OF PORTFOLIOS BY MAKING EXAGGERATED STATEMENTS
ALLEGED VIOLATION OF VARIOUS SEBI CIRCULARS/ORDERS
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.6,80,000 VIDE CONSENT ORDER)
11-SEP-2017
|
|
| 31 |
|
|
KAUSHIK PODDAR
|
|
|
|
KB CAPITAL MARKETS PVT.LTD.
PAN:AABCK1174F
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT GET AUDITED PORTFOLIO ACCOUNTS OF CLIENTS BY INDEPENDENT CHARTERED ACCOUNTANT AS REQUIRED UNDER REGULATION 20 (3) OF SEBI (PORTFOLIO MANAGER) REGULATIONS),1993
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
31-DEC-2008
|
|
| 32 |
|
|
KB CAPITAL MARKETS PVT.LTD.
(PAN:AABCK1174F)
|
|
|
|
KAUSHIK PODDAR
|
|
|
PRASHANT KHANDELWAL
|
|
|
RAKESH GUPTA
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DID NOT GET AUDITED PORTFOLIO ACCOUNTS OF CLIENTS BY INDEPENDENT CHARTERED ACCOUNTANT AS REQUIRED UNDER REGULATION 20 (3) OF SEBI (PORTFOLIO MANAGER) REGULATIONS),1993
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
31-DEC-2008
|
|
| 33 |
|
|
KEDAR RAMESH DESHPANDE
(PAN:AAMPD7153P)
|
|
|
|
LANDMARK CAPITAL ADVISORS PVT.LTD.
PAN:AACCL4482A
|
|
DID NOT MAINTAIN MINIMUM CORPUS OF CLIENTS TO MINIMUM REQUIREMENTS
HELD CLIENTS SECURITIES IN OWN NAME
DID NOT MAINTAIN RECORDS IN SUPPORT OF INVESTMENT TRANSACTIONS
DID NOT DEPLOY FUNDS RECEIVED FROM CLIENTS IN REASONABLE TIME
ALLOWED OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN ARM’S LENGTH RELATIONSHIP BETWEEN HANDLING ACTIVITIES AS A PORTFOLIO MANAGER AND MANAGER OF AIF
OUTSOURCED ACTIVITY OF CARRYING OUT KYC REQUIREMENTS AND DID NOT OBTAIN REGISTRATION WITH CKYC AND KRA
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
|
IMPOSED PENALTY RS.7,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-AUG-2022
|
|
| 34 |
|
|
KEDAR RAMESH DESHPANDE
(PAN:AAMPD7153P)
|
|
|
|
KARVY CAPITAL LTD.
PAN:AAACG4544N
|
|
KEPT OPEN POSITION IN RESPECT OF ALLOCATION OF SALES OR PURCHASES OF SECURITIES AFFECTED IN A DAY
INVESTED CORPUS REDUCED BELOW RS.25 LAC
DID NOT MAINTAIN UNIFORMITY IN PROVISIONS FOR TERMINATION OF AGREEMENT WITH
CLIENTS
OUTSOURCED CORE ACTIVITIES
DID NOT OBTAIN REGISTRATION WITH CENTRAL KYC RECORDS REGISTRY (CKYCR) AND DID NOT UPLOAD KYC DATA OF CLIENTS WITH CKYCR
DID NOT MAKE DISCLOSURE OF DETAILS OF PENALTIES/PENDING LITIGATION OR PROCEEDINGS
|
IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-MAR-2023
|
|
| 35 |
|
|
KHANDWALA SECURITIES LTD.
(PAN:AAACK2214P)
(Member : BSE/NSE)
|
|
|
ALLEGED INDULGENCE IN IRREGULAR TRANSACTIONS VIOLATING REGULATIONS 4(B) (C) AND (D) OF SEBI (PFUTP) REGULATIONS, 2003 IN SCRIP OF DSQ SOFTWARE LTD.
ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE & DILIGENCE, INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 7 READ WITH CLAUSES A(2) TO A(4) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF DSQ SOFTWARE LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.40,00,000 VIDE CONSENT ORDER)
15-SEP-2009
|
|
| 36 |
|
|
KISHORE SHAH
|
|
|
|
WEALTH MANAGEMENT ADVISORY SERVICES LTD.
|
|
DISCIPLINARY ACTION TAKEN/PENDING AGAINST THE COMPANIES CONNECTED WITH THE APPLICANT
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
18-JUN-2004
|
|
| 37 |
|
|
LALIT BHASIN
|
|
|
|
CREDITCAPITAL ASSET MANAGEMENT CO.LTD.
|
|
MULTIPLE LEGAL PROCEEDINGS PENDING AGAINST THE COMPANY
DID NOT FULFIL NET WORTH CRITERIA
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
08-OCT-2004
|
SEBI GRANTED PORTFOLIO MANAGER LICENSE ON 01/11/2005
|
| 38 |
|
|
LAND LEASE CO.(INDIA) LTD.
(Along with : WEALTH MANAGEMENT ADVISORY SERVICES LTD.)
|
|
|
DISCIPLINARY ACTION TAKEN/PENDING AGAINST THE COMPANIES CONNECTED WITH THE APPLICANT
|
REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER
18-JUN-2004
|
|
| 39 |
|
|
LANDMARK CAPITAL ADVISORS PVT.LTD.
(PAN:AACCL4482A)
|
|
|
|
ASHISH KUMAR JOSHI
PAN:AAFPJ2088L
|
|
|
KEDAR RAMESH DESHPANDE
PAN:AAMPD7153P
|
|
DID NOT MAINTAIN MINIMUM CORPUS OF CLIENTS TO MINIMUM REQUIREMENTS
HELD CLIENTS SECURITIES IN OWN NAME
DID NOT MAINTAIN RECORDS IN SUPPORT OF INVESTMENT TRANSACTIONS
DID NOT DEPLOY FUNDS RECEIVED FROM CLIENTS IN REASONABLE TIME
ALLOWED OUTSOURCING OF CORE ACTIVITIES
DID NOT MAINTAIN ARM’S LENGTH RELATIONSHIP BETWEEN HANDLING ACTIVITIES AS A PORTFOLIO MANAGER AND MANAGER OF AIF
OUTSOURCED ACTIVITY OF CARRYING OUT KYC REQUIREMENTS AND DID NOT OBTAIN REGISTRATION WITH CKYC AND KRA
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
|
IMPOSED PENALTY RS.7,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-AUG-2022
|
|
| 40 |
|
|
LFS BROKING PVT.LTD.
(PAN:AACCL1007D)
(Member : NSE)
|
|
|
MISUSED REGISTRATION TO PROMOTE LFS BROKING AND PMS SERVICES AND ANOTHER UNREGISTERED ENTITY MOL COMMODITIES COLLECTED FUNDS FROM INVESTORS
|
CANCELLED REGISTRATION AS PORTFOLIO MANAGER FROM 28-JUN-2024
CANCELLED REGISTRATION AS STOCK BROKER FROM 28-JUN-2024
CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT FROM 28-JUN-2024
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 28-JUN-2024
28-JUN-2024
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
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| Page 2 of 4
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