| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 121 |
|
DSP MERRILL LYNCH LTD.
(PAN:AAACD0535G)
|
|
|
ALLEGED INDULGENCE IN SEBI (MERCHANT BANKER) REGULATIONS, 1992
ALLEGED VIOLATION OF VARIOUS PROVISIONS OF SEBI (DISCLOSURE & INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.30,50,000 VIDE CONSENT ORDER)
12-JAN-2010
|
|
| 122 |
|
|
EDELWEISS CAPITAL LTD.
|
|
|
ALLEGED INDULGENCE IN VIOLATION OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000
ALLEGED FAILURE IN EXERCISING DUE DILIGENCE WHILE CONDUCTING BUSINESS AS A MERCHANT BANKER I.E.DID NOT ADOPT INDEPENDENT PROFESSIONAL JUDGEMENTS IN VERIFYING RECORDS/VISITING PLACES OF ISSUER COMPANIES, DID NOT PROVIDE CORRECT INFORMATION AND/OR PROVIDE MISLEADING INFORMATION IN DRHP, DID NOT ENSURE ADEQUATE DISCLOSURES IN DRHP, DID NOT SUPERVISE ACTIVITIES OF SUB-SYNDICATE MEMBER, DID NOT FOLLOW PROPERLY DUE DILIGENCE IN RESPECT OF POST ISSUE ACTIVITIES OF SEVERAL ISSUER COMPANIES, DID NOT SUPERVISE ACTIVITIES OF BANKERS AND REGISTRAR TO ISSUE ETC.
ALLEGED FAILURE IN ADHERING TO SEBI DIRECTIVES IN MATTER OF PUBLIC OFFER/ANNOUNCEMENT AS SPECIFIED UNDER SEBI TAKEOVER CODE, 1997
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
11-MAY-2011
|
|
| 123 |
|
|
EDELWEISS FINANCIAL SERVICES LTD.
(PAN:AAACE1461E)
|
|
|
DID NOT MAKE DISCLOSURE IN RHP REGARDING REJECTION OF PROPOSAL OF FOREST DIVERSION OF ITS IRON ORE MINE BY MINISTRY OF ENVIRONMENT AND FOREST (MOEF) VIOLATING REGULATION 57(1), 57(2) (A) (II) AND 64 (1) OF SEBI (ICDR REGULATIONS), 2009 AND REGULATION 13 OF THE MERCHANT BANKERS REGULATIONS, 1992 IN MATTER OF IPO OF ELECTROCSTEEL CASTINGS LTD.
|
IMPOSED PENALTY RS.50,00,000 ALONG WITH OTHER ENTITIES/PERSONS
31-MAR-2016
|
SAT: SAT VIDE ITS ORDER DATED 14/11/2019 PARTLY ALLOWED THE APPEAL BY REDUCING PENALTY AMOUNT TO RS.50 LACS FROM RS.1.0 CRORE TO BE PAID JOINTLY AND SEVERALLY BY THE APPELLANTS
|
| 124 |
|
|
EDELWEISS FINANCIAL SERVICES LTD.
(PAN:AAACE1461E)
|
|
|
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATING CLAUSE 1 OF FORM C OF SCHEDULE VI OF REGULATIONS 8(2)(B), 57(1), 57(2)(A)(II) AND 64(1) OF SEBI ICDR REGULATIONS, 2009 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
DELIBERATELY SUPPRESSED CRUCIAL MATERIAL FACTS CONCERINING ENTRY DIRECTIVES/INSTRUCTIONS/GUIDELINES FOR PARTICIPATION BY NON-RESIDENT INVESTORS IN AN INDIAN COMPANY VIOLATIING CLAUSES 1, 4, 6, 7 AND 20 OF CODE OF CONDUCT FOR MERCHANT BANKERS AS SPECIFIED IN SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF INITIAL PUBLIC OFFER OF CREDIT ANALYSIS & RESEARCH LTD.
|
IMPOSED PENALTY RS.1,00,00,000 ALONG WITH OTHER ENTITIES/PERSONS
28-NOV-2014
|
SAT: SAT VIDE ITS ORDER DATED 04/10/2016 MODIFIED ITS EARLIER ORDER DATED 30/09/2016 AS “PER MAJORITY: AS PER MAJORITY DECISION, THE APPEAL IS ALLOWED AND THE IMPUGNED ORDER IS SET ASIDE WITH NO ORDER AS TO COSTS. “PER MINORITY: AS PER MINORITY DECISION, THE APPEAL IS DISMISSED AND THE IMPUGNED ORDER IS UPHELD WITH NO OTDER AS TO COTS.”
|
| 125 |
|
|
EFCON SECURITIES LTD.
|
|
|
DID NOT FURNISH REQUISITE INFORMATION TO SEBI IN TIME
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 19-NOV-1997
28-DEC-1997
|
|
| 126 |
|
|
EIDER FINANCIAL SERVICES LTD.
(CIN:U74140HP1989PLC009243)
|
|
|
DID NOT PAY FEES TO SEBI
|
SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 08-SEP-1998 TILL THE REMAINING PERIOD OF REGISTRATION
17-SEP-1998
|
|
| 127 |
|
|
ENAM SECURITIES PVT.LTD.
|
|
|
DID NOT MAKE DISCLOSURE OF RABOBANK AS PROMOTER IN PROSPECTUS OF YES BANK LTD.
DID NOT MAKE DISCLOSURE PERTAINING TO ALLOCATION OF SHARES TO QIBS AND DID NOT MAINTAIN CONSISTENCY IN ALLOTMENT OF SHARES WITHIN SAME CATEGORY IN MATTER OF PUBLIC ISSUE OF YES BANK LTD.
DID NOT MONITOR FLOW OF APPLICATIONS & OTHER MATTERS PURSUANT TO CLOSURE OF PUBLIC ISSUES, ALLOTTED SHARES TO NON EXISTING DP IDS AND INDULGED IN OTHER IRREGULARITIES IN MATTER OF PUBLIC ISSUE OF YES BANK LTD.
|
IMPOSED PENALTY RS.25,00,000
31-DEC-2010
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER DATED 31/12/2010 SET ASIDE. NO ORDER AS TO COSTS
|
| 128 |
|
|
EXPERT GLOBAL CONSULTANTS PVT.LTD.
(PAN:AABCF5715E)
|
|
|
DID NOT EXERCISE PROPER DUE DILIGENCE WHILE SUBMITTING CAPITAL BUILD-UP OF PROMOTER AND PROMOTER GROUP
MADE MISLEADING DISCLOSURES/STATEMENT ON WEBSITE
DID NOT DISPLAY INVESTOR CHARTER ON ITS WEBSITE
DID NOT HAVE VALID NCFM/NISM CERTIFICATE
DID NOT INTIMATE CHANGES IN DIRECTORS AND KEY MANAGERIAL PERSONNEL TO SEBI
DELAY IN FILING OF PERIODIC REPORTS TO SEBI
DID NOT ADOPT CODE OF CONDUCT, MAINTENANCE OF STRUCTURAL DIGITAL DATABASE (SDD) AND DESIGNATING ANY COMPLIANCE OFFICER TO MONITOR COMPLIANCES AS REQUIRED UNDER SEBI (PIT) REGULATIONS, 2015
|
PROHIBITED FROM TAKING ANY NEW ASSIGNMENT I.E.NEW CLIENTS AS A MERCHANT BANKER FROM 25-APR-2025 TO 24-OCT-2025
25-APR-2025
|
|
| 129 |
|
|
EXX-ON FINANCIAL SERVICES LTD.
|
|
|
DID NOT FURNISH REQUISITE INFORMATION TO SEBI IN TIME
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 21-NOV-1997
28-NOV-1997
|
|
| 130 |
|
|
FARSIGHT CONSULTANTS PVT.LTD.
|
|
|
REGISTRATION EXPIRED
DID NOT APPLY FOR RENEWAL OF REGISTRATION
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 15-FEB-1998
20-AUG-1998
|
|
| 131 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
DELAY IN CREATION OF ESCROW ACCOUNT AND DEPOSIT OF ESCROW MONEY VIOLATING REGULATION 17(1) OF SAST REGULATIONS, 2011 IN MATTER OF SPACEAGE PRODUCTS LTD. AND SPECULAR MARKETING FINANCE LTD.
DID NOT CARRY OUT PROPER DUE DILIGENCE TO ENSURE COMPLIANCE WITH SAST REGULATIONS VIOLATING REGULATION 27(5) OF SAST REGULATIONS, 2011 IN MATTER OF SPACEAGE PRODUCTS LTD. AND SPECULAR MARKETING FINANCE LTD.
|
IMPOSED PENALTY RS.6,00,000
28-MAR-2022
|
SEBI VIDE ITS NOTICE DATED 16/06/2022 DIRECTED TO PAY RS.6,25,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
|
| 132 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
DID NOT CARRY OUT NECESSARY DUE DILIGENCE AND INDEPENDENT VERIFICATION OF THE FACTS STATED IN THE PROSPECTUS REGARDING THE PROJECTS OF THE COMPANY IN MATTER OF SBL INFRATECH LTD.
|
IMPOSED PENALTY RS.5,00,000
16-MAY-2025
|
|
| 133 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
INDULGED IN DIVERSION/SIPHONING OFF FUNDS OF IPO PROCEEDS OF TREKKINGTOES.COM VIOLATING REGULATIONS 27(2) AND (5) OF SEBI TAKEOVER REGULATIONS AND CODE OF CONDUCT SPECIFIED UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKER) REGULATIONS, 1992
|
PROHIBITED FROM TAKING UP ANY NEW CLIENTS OR ASSIGNMENTS AS A MERCHANT BANKER FROM 24-JAN-2022
24-JAN-2022
|
SEBI VIDE ITS ORDER DATED 30/01/2023 REVOKED THE DIRECTIONS ISSUED VIDE EX-PARTE AD INTERIM ORDER CUM SHOW CAUSE NOTICE DATED 24/01/2022 AND DISPOSED OF SCN WITHOUT ANY FURTHER DIRECTIONS
|
| 134 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
DID NOT EXERCISE DUE DILIGENCE, CARE AND PROFESSIONAL JUDGEMENT IN ENSURING 25% OF CONSIDERATION AMOUNT OF OPEN OFFER DEPOSITED IN ESCROW ACCOUNT AT THE TIME OF MAKING PUBLIC ANNOUNCEMENT VIOLATING REGULATION 27(5) OF SAST REGULATIONS, 2011 IN MATTER OF ORIENT TRADELINK LTD.
|
IMPOSED PENALTY RS.2,00,000
27-JAN-2022
|
|
| 135 |
|
|
FAST TRACK FINSEC PVT.LTD.
(PAN:AABCF4818P)
|
|
|
DID NOT OBTAIN ANY DOCUMENTS/ OR CARRIED OUT NECESSARY DUE DILIGENCE TO VERIFY QUALIFICATIONS AND EXPERIENCE OF DIRECTORS IN MATTER OF IPO OF TREKKINGTOES.COM LTD.
COMMITTED IRREGULARITIES WITH RESPECT TO TAKEOVER THROUGH OPEN OFFER IN MATTER OF KD LEISURE LTD., AKM LACE & EMBROTEX LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD. AND ORACLE CREDIT LTD.
DID NOT FILE DRAFT LETTER OF OFFER WITHIN FIVE DAYS FROM DATE OF DETAILED PUBLIC STATEMENT IN MATTER OF KD LEISURE LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD.
DELAY IN MAKING PUBLIC ANNOUNCEMENT ON DATE OF AGREEING TO ACQUIRE SHARES OR VOTING RIGHTS IN MATTER OF AKM LACE & EMBROTEX LTD., ORACLE CREDIT LTD.
DID NOT TENDER SHARES IN OPEN OFFER DURING TENDER PERIOD AND THE REMAINING AMOUNT WAS WITHDRAWN AND PAID TO ACQUIRER, WHICH WAS LESS THAN 30 DAYS FROM THE CLOSURE OF TENDER PERIOD IN MATTER OF AKM LACE & EMBROTEX LTD., SPACEAGE PRODUCTS LTD., SPECULAR MARKETING & FINANCE LTD.
DID NOT MAKE DISCLOSURE OF SALIENT FEATURES OF SHARE PURCHASE AGREEMENT AND SHARE SUBSCRIPTION AGREEMENT IN THE LETTER OF OFFER
- DID NOT MAKE DISCLOSURE OF NET WORTH, FINANCIALS OF PERSONS ACTING IN CONCERT, THEIR DIRECTORSHIPS IN COMPANIES AND CONTINGENT LIABILITIES
DISCREPANCIES IN PERIODIC REPORTS
DID NOT MAKE DISCLOSURE OF TRACK RECORD ON ITS WEBSITE
DELAY IN DISPLAYING OF TRACK RECORD ON ITS WEBSITE
COMMITTED IRREGULARITIES WITH RESPECT TO INTERNAL CODE OF CONDUCT
DID NOT HAVE MINUTES OF BOARD MEETING MAINTAIN FOR APPROVAL OF CODE OF CONDUCT AND ETHICS
COMMITTED IRREGULARITIES W.R.T. MERCHANT BANKER CERTIFICATION
|
IMPOSED PENALTY RS.6,00,000
10-DEC-2025
|
|
| 136 |
|
|
FICOM PROJECT TECHNOLOGIST PVT.LTD.
|
|
|
DID NOT PAY FEES TO SEBI
|
SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 05-JUN-1998
15-JUN-1998
|
|
| 137 |
|
|
FICOM PROJECT TECHNOLOGIST PVT.LTD.
|
|
|
DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 31-DEC-1998
26-FEB-1999
|
|
| 138 |
|
|
FINSHORE MANAGEMENT SERVICES LTD.
(PAN:AABCF8557F)
|
|
|
DID NOT UNDERTAKE DUE DILIGENCE WITH RESPECT TO VERACITY AND ADEQUACY OF DISCLOSURES IN THE OFFER DOCUMENT/PROSPECTUS VIOLATING REGULATION 245(3) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF PRESSTONIC ENGINEERING LTD.
DID NOT UNDERTAKE DUE DILIGENCE WITH RESPECT TO VERACITY AND ADEQUACY OF DISCLOSURES IN THE OFFER DOCUMENT/PROSPECTUS VIOLATING REGULATION 13 READ WITH CLAUSE 4 OF SCHEDULE III OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992 IN MATTER OF PRESSTONIC ENGINEERING LTD.
|
IMPOSED PENALTY RS.2,00,000
19-MAY-2025
|
|
| 139 |
|
|
FINSHORE MANAGEMENT SERVICES LTD.
(PAN:AABCF8557F)
|
|
|
DID NOT ADHERE TO SEBI OBSERVATION LETTER DATED 11/01/2022 WITH RESPECT TO OPEN OFFER OF MEHAI TECHNOLOGY LTD. VIOLATING REGULATIONS 16(4) AND 27(5) OF SAST REGULATIONS, 2011
DID NOT ADHERE TO SEBI OBSERVATION LETTER DATED 11/01/2022 WITH RESPECT TO OPEN OFFER OF MEHAI TECHNOLOGY LTD. VIOLATING CLAUSES 6 AND 7 OF CODE OF CONDUCT UNDER SCHEDULE III READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT CLASSIFY TWO ENTITIES UNDER PROMOTER GROUP OF THE ISSUER, INDONG TEA CO.LTD. VIOLATING CLAUSES 4 AND 6 OF SCHEDULE III CODE OF CONDUCT READ WITH REGULATION 13 OF SEBI (MERCHANT BANKERS) REGULATIONS, 1992
DID NOT CLASSIFY TWO ENTITIES UNDER PROMOTER GROUP OF THE ISSUER, INDONG TEA CO.LTD. VIOLATING REGULATION 245(3) READ WITH SCHEDULE VI OF SEBI (ICDR) REGULATIONS, 2018
DID NOT UPLOAD INVESTOR CHARTER ON ITS WEBSITE
DID NOT CREATE AND UTILISE DEDICATED EMAIL ID FOR INVESTOR GRIEVANCES
USED PERSON-CENTRIC EMAIL IDS INSTEAD OF GENERAL EMAIL IDS FOR REGULATORY COMMUNICATIONS
DID NOT MAINTAIN LIST OF DESIGNATED PERSONS, STRUCTURED DIGITAL DATABASE AND DEFICIENCIES IN THE INTERNAL CONTROLS PUT IN PLACE BY MERCHANT BANKER VIOLATING REGULATIONS 3, 9, 9A AND SCHEDULE C OF SEBI (PIT) REGULATIONS, 2015
DID NOT MAKE DISCLOSURE OF INFORMATION IN REPLY TO PIQ WITH RESPECT TO ADMINISTRATIVE WARNINGS AND DEFICIENCY LETTERS PREVIOUSLY ISSUED BY SEBI
|
IMPOSED PENALTY RS.5,00,000
30-MAY-2024
|
|
| 140 |
|
|
FINWIZ FINANCIAL SERVICES LTD.
|
|
|
DID NOT FILE APPLICATION FOR RENEWAL OF REGISTRATION
|
CANCELLED REGISTRATION AS MERCHANT BANKER FROM 14-FEB-1999
26-MAR-1999
|
|
| 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 7 of 25
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