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

481

VIDARBHA HOLDINGS LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-DEC-1997

08-JAN-1998

482

VINAY MEHTA

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ALMONDZ GLOBAL SECURITIES LTD.

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

DID NOT EXERCISE DUE DILIGENCE IN IPO OF BHARTIYA GLOBAL INFOMEDIA LTD.

DID NOT EXERCISE DUE DILIGENCE IN IPO OF PG ELECTROPLAST 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

SAT: APPEAL DISPOSED OFF WITH A DIRECTION TO SEBI TO PASS APPROPRIATE ORDER WITHIN A PERIOD OF TWO WEEKS FROM THE DATE OF THIS ORDER. IN CASE NO SUCH ORDER IS PASSED EX-PARTE INTERIM ORDER SHALL STAND VACATED. NO COSTS

SEBI VIDE ITS ORDER DATE 11/09/2012 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS AD INTERIM EX-PARTE ORDER DATED 28/12/2011

SEBI VIDE ITS ORDER DATED 03/03/2014 PROHIBITED NOTICEES FROM TAKING UP ANY NEW ASSIGNMENT OR INVOLVEMENT IN ANY NEW ISSUE OF CAPITAL INCLUDING IPOS, FOLLOW-ON ISSUES ETC. IN SECURITIES MARKET IN ANY MANNER WHATSOEVER FOR A PERIOD OF SIX MONTHS FROM THE DATE OF THIS ORDER. FURTHER DURING THIS PERIOD NOTICEES SHALL NOT TAKE ANY ASSIGNMENT OR INVOLVEMENT IN BUY-BACKS, OPEN OFFERS OR DELISTING OF SECURITIES

SEBI VIDE ITS ORDER DATED 21/03/2014 PROHIBITED NOTICEES FROM TAKING UP ANY NEW ASSIGNMENT OR INVOLVEMENT IN ANY NEW ISSUE OF CAPITAL INCLUDING IPOS, FOLLOW-ON ISSUES ETC. IN SECURITIES MARKET IN ANY MANNER WHATSOEVER FOR A PERIOD OF FIVE YEARS FROM THE DATE OF THIS ORDER. FURTHER DURING THIS PERIOD NOTICEES SHALL NOT TAKE ANY ASSIGNMENT OR INVOLVEMENT IN BUY-BACKS, OPEN OFFERS OR DELISTING OF SECURITIES. PERIOD OF PROHIBITION ALREADY UNDERGONE SHALL BE TAKEN INTO ACCOUNT FOR THE PURPOSE OF COMPUTING THE PERIOD OF PROHIBITION

SEBI VIDE ITS ORDER DATE 21/09/2012 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS AD INTERIM EX-PARTE ORDER DATED 28/12/2011

SEBI VIDE ITS ORDER DATED 11/04/2014 SUSPENDED CERTIFICATE OF REGISTRATION FOR A PERIOD OF SIX MONTHS, WHICH SHALL RUN CONCURRENTLY WITH, THE DIRECTIONS ISSUED VIDE ITS ORDER DATED 03/03/2014

SAT: APPEAL DISMISSED AS INFRUCTUOUS

SAT: SAT VIDE ITS ORDER DATED 13/05/2016 QUASHED REMNANT PUNISHMENT IMPOSED VIDE IMPUGNED ORDER DATED 03/03/2014. APPEAL PARTLY ALLOWED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 13/05/2016 QUASHED REMNANT PUNISHMENT IMPOSED VIDE IMPUGNED ORDER DATED 21/03/2014. THUS, APPEAL NOS.275, 276, 301 OF 2014 AND 207 OF 2015 ARE PARTLY ALLOWED. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 07/10/2016 QUASHED THE REMAINING PUNISHMENT IMPOSED IN IMPUGNED ORDER DATED 13/05/2016 AND APPEAL PARTLY ALLOWED. DIRECTED REGISTRY TO INCORPORATE PARAGRAPHS 1A, 22A AND 64A, 64B AND 64C AFTER PARAGRAPHS 1, 22, 64 RESPECTIVELY, AND ISSUE A FRESH COPY OF THE ORDER DATED 13/05/2016 TO ALL THE PARTIES ACCORDINGLY. DISPOSED OFF REVIEW APPLICATION

483

VIPUL DINESH PAREKH

PANTHER FINCAP & MANAGEMENT SERVICES LTD.

PAN:AAACP3045P

TRIUMPH INTERNATIONAL FINANCE INDIA LTD.

PAN:AAACE0308A

VIOLATED SEBI ACT, 1992

PROSECUTION LAUNCHED

15-MAY-2006

484

VIPUL SECURITIES LTD.

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-DEC-1998

26-FEB-1999

485

VITAL LINK INVESTMENTS PVT.LTD.

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 28-FEB-1999

26-MAR-1999

486

VIVRO FINANCIAL SERVICES PVT.LTD.

(PAN:AAACV5002E)

DID NOT EXERCISE DUE DILIGENCE WITH REGARD TO CONTENT OF ADVERTISEMENT RELATING TO DISPATCH OF COMPOSITE APPLICATION FORMS AND ABRIDGED LETTERS OF OFFER IN MATTER OF RIGHTS ISSUE OF RAM KAASHYAP INVESTMENT LTD.

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

20-DEC-2013

487

VLS SECURITIES LTD.

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 28-FEB-1999

26-MAR-1999

488

WELSPUN FINANCE LTD.

REGISTRATION EXPIRED

DID NOT APPLY FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-APR-1998

09-JUN-1998

489

WESTERN FINCAP LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-OCT-1998

08-OCT-1998

490

WINDSOR CAPITAL MARKET LTD.

DID NOT FURNISH REQUISITE INFORMATION TO SEBI IN TIME

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 09-MAR-1998

19-DEC-1998

491

WORLDLINK FINANCE LTD.

DID NOT EXERCISE DUE CARE AND DILIGENCE IN ASCERTAINING STATUS OF SHARES ISSUED AND OFFERED IN "LOCK IN" UNDER PROMOTERS' QUOTA IN CASE OF BARODA AGRO INDUSTRIES LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 02-NOV-2006 TO 01-NOV-2009

02-NOV-2006

SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF DEBARMENT FROM 3 YEARS TO SIX MONTHS

492

XS FINANCIAL SERVICES LTD.

DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION

CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-JAN-1999

26-FEB-1999

493

XS FINANCIAL SERVICES LTD.

DID NOT PAY FEES TO SEBI

SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-OCT-1998

08-OCT-1998

494

YASH MANAGEMENT & FINANCIAL SERVICES LTD.