| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
AHMEDABAD STOCK EXCHANGE
|
|
|
DID NOT TAKE STEPS TO STOP UNOFFICIAL MARKET DESPITE INSTRUCTIONS FROM SEBI
SUBMITTED FALSE REPORT TO SEBI THAT UNOFFICIAL MARKET WAS NOT CONDUCTED WITHIN THE OFFICIAL PREMISES OF THE EXCHANGE AND MEMBERS WERE NOT PARTICIPATING IN SUCH UNOFFICIAL MARKET
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT FROM 25-MAR-2003 TO 24-MAR-2004
25-MAR-2003
|
RESTORED GOVERNING BOARD OF AHMEDABAD STOCK EXCHANGE
|
| 2 |
|
|
AHMEDABAD STOCK EXCHANGE LTD.
|
|
|
|
HEMANT SINGH JHALA
PAN:AAQPJ7906E
|
|
|
KEYUR B.MEHTA
|
|
|
KUSH BHARAT SHAH
|
|
DID NOT MAINTAIN STATUTORY FUNDS SEPARATELY FOR INVESTOR SERVICE FUND (ISF) AND SETTLEMENT GUARANTEE FUND (SGF)
|
WARNED TO BE MORE CAUTIOUS AND PERCEPTIVE IN DISCHARGE OF ITS REGULATORY DUTIES
DIRECTED GOVERNING BOARD OF STOCK EXCHANGE TO SUBMIT A COMPLIANCE REPORT WITH RESPECT TO OBSERVATIONS WHICH STILL HAVE NOT BEEN COMPLIED WITH
DIRECTED STOCK EXCHANGE NOT TO USE ANY FUNDS FROM INVESTOR PROTECTION FUND (IPF) AND INVESTOR SERVICE FUND (ISF) TILL EXCHANGE PUTS IN PLACE ADEQUATE CHECKS AND BALANCES FOR UTILISATION OF FUNDS FROM THIS ACCOUNT TO THE SATISFACTION OF SEBI
DIRECTED STOCK EXCHANGE TO APPOINT AN INDEPENDENT AUDITOR TO ASSESS INTERNAL CONTROL SYSTEMS OF EXCHANGE AND IMPLEMENT ITS SUGGESTIONS AFTER DISCUSSIONS IN BOARD MEETING WITHIN TWO MONTS FROM DATE OF ORDER
DIRECTED STOCK EXCHANGE NOT TO APPOINT MR.KEYUR B.MEHTA & MR KUSH B. SHAH ON BOARD FOR A PERIOD OF FIVE YEARS
RESTRAINED MR.HEMENT SINGH JHALA FROM HOLDING ANY POSITION AS DIRECTOR WITH ANY SEBI REGISTERED INTERMEDIARY OR ENTITY FROM 25-APR-2014
25-APR-2014
|
|
| 3 |
|
|
ASHISH PARIKH
|
|
|
|
MANGALORE STOCK EXCHANGE LTD.
|
|
DID NOT ADHERE TO STATED INVESTMENT POLICY/DIRECTIVES/INSTRUCTIONS/GUIDELINES OF THE EXCHANGE
DRAIN ON EXCHANGE'S RESOURCES
DID NOT RECTIFY LACUNAE IN TRADING SOFTWARE
FAILED TO APPOINT EXECUTIVE DIRECTOR AT THE EXCHANGE
HUGE GAP BETWEEN RESOURCES CURRENTLY AVAILABLE AND REQUIREMENTS IN TERMS OF MANPOWER, MATERIAL ETC, TO FUNCTION AS STOCK EXCHANGE
LAPSES IN BASIC FUNCTIONS AND INSTANCES OF NON-INITIATION OF EFFECTIVE STEPS FOR THE GENERAL FUNCTIONING AND ADMINISTRATION OF THE EXCHANGE IN TERMS OF THE PROVISIONS OF SEBI DIRECTIVES, CIRCULARS, SC(R)A AND THE SC(R)R
WEAK OPERATIONAL MANAGEMENT
MISUSE OF POSITION BY ELECTED DIRECTORS
|
REJECTED APPLICATION FOR RENEWAL OF RECOGNITION AS STOCK EXCHANGE
31-AUG-2004
|
SAT: APPEAL MAINTAINABLE
SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS
SEBI VIDE ITS ORDER DATED 03/03/2014 ALLOWED THE EXIT OF MANGALORE STOCK EXCHANGE AS A STOCK EXCHANGE SUBJECT TO FULLFILMENT OF CERTAIN DIRECTIONS AS PER ORDER
|
| 4 |
|
|
BANGALORE STOCK EXCHANGE LTD.
|
|
|
|
KAMALA K.
|
|
DID NOT FURNISH CORRECT INFORMATION WITH RESPECT TO THE ADHOC MARGINS IMPOSED BY THE EXCHANGE IN THE SCRIP OF HOME TRADE LTD.
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
27-AUG-2003
|
|
| 5 |
|
|
BHUBANESWAR STOCK EXCHANGE ASSOCIATION LTD.
|
|
|
SIPHONED FUNDS OUT OF BHUBANESWAR STOCK EXCHANGE TO THE TUNE OF RS. 1.30 CRORE INCLUDING INTEREST THROUGH THE EXCHANGE'S MEMBERS WELFARE TRUST
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT FROM 03-JAN-2003 TO 02-JAN-2004
04-JAN-2003
|
RESTORED ADMINISTRATION OF THE EXCHANGE TO THE BOARD OF THE EXCHANGE, RECONSTITUED IN ACCORDANCE WITH THE COMPOSITION PRESCRIBED BY SEBI
|
| 6 |
|
|
BINOD JHUNJHUNWALA
|
|
|
|
MAGADH STOCK EXCHANGE ASSOCIATION LTD.
|
|
VIOLATED SECTION 11 (C) 6 OF SEBI ACT, 1992
|
PROSECUTION LAUNCHED
31-MAR-2010
|
DISMISSED
|
| 7 |
|
|
BOMBAY STOCK EXCHANGE LTD.
(PAN:AACCB6672L)
|
|
|
DID NOT ENSURE EQUAL, UNRESTRICTED, TRANSPARENT AND FAIR ACCESS TO INFORMATION/DATA WITH REGARD TO CORPORATE ANNOUNCEMENTS OF LISTED COMPANIES TO ALL PERSONS AS REQUIRED UNDER REGULATION 39(3) OF SEBI (SECC) REGULATIONS, 2018
LAPSES IN PROCESS AND MONITORING MECHANISM REGARDING CLIENT CODE MODIFICATION VIOLATING SEBI CIRCULAR DATED 05/07/2011, MASTER CIRCULAR DATED 05/07/2021 AND CIRCULAR DATED 26/10/2004
|
IMPOSED PENALTY RS.25,00,000
25-JUN-2025
|
|
| 8 |
|
|
BOMBAY STOCK EXCHANGE LTD.
(PAN:AACCB6672L)
|
|
|
FACILITATED IN MANIPULATING IPO OF INFRASTRUCTURE DEVELOPMENT FINANCE CO.LTD. BY PROVIDING FUNDS TO PURCHASE SHARES MEANT FOR RETAIL APPLICANTS AND LATER ON SELL THEM IN MARKET AT HIGHER PRICE FOR UNJUST ENRICHMENT
|
ADVISED TO EXAMINE ROLE AND INVOLVEMENT OF BROKERS/SUB-BROKERS BY WAY OF PARTICIPATION IN IPOS EITHER DIRECTLY OR INDIRECTLY AND THEIR DEALINGS IN THE SHARES SUBSEQUENT TO LISTING
12-JAN-2006
|
|
| 9 |
|
|
BOMBAY STOCK EXCHANGE LTD.
(PAN:AACCB6672L)
|
|
|
DID NOT SEND CORRECT INFORMATION TO SEBI IN RELATION TO SUBSCRIPTION FIGURE OF OFS OF NMDC LTD. VIOLATING CLAUSE 5(D) (II) AND (III) OF OPERATIONAL DIRECTIVES/INSTRUCTIONS/GUIDELINES ON OFS ISSUED VIDE SEBI CIRCULAR NO.CIR/MRD/DP/18/2012 DATED JULY 18, 2012
|
CENSURED TO BE CAREFUL AND CAUTIOUS IN DEALINGS IN SECURITIES MARKET AND COMPLY WITH ALL LEGAL REQUIREMENTS THAT GOVERN ITS FUNCTIONS AS STOCK EXCHANGE
DIRECTED TO ENGAGE ONE OR MORE INDEPENDENT CONSULTANTS TO REVIEW ENTIRE SEQUENCE OF EVENTS IN THE MATTER, PROCESS FOLLOWED, CHECKS IN PLACE AND SYSTEMS EMPLOYED WHILE ACCEPTING OFS BIDS BY BSE
DIRECTED TO REPORT TO ITS BOARD, UNDER INTIMATION TO SEBI WITHIN A PERIOD OF THREE (3) MONTHS AS TO HOW RECOMMENDATIONS OF CONSULTANTS HAVE BEEN IMPLEMENTED INCLUDING ACTION AS DIRECTED IN THE ORDER
11-SEP-2014
|
|
| 10 |
|
|
BOMBAY STOCK EXCHANGE LTD.
(PAN:AACCB6672L)
|
|
|
INTRODUCED MARKET MAKING SCHEME IN DERIVATIVES SEGMENT WITHOUT PERMISSION OF SEBI
|
ADVISED BSE TO BRING SUCH SCHEMES WHICH HAVE WIDE AND FAR REACHING IMPLICATIONS FOR SECURITIES MARKET, TO ATTENTION OF SEBI AND SEEK GUIDANCE OF APPROVAL WHEREVER REQUIRED
20-APR-2010
|
|
| 11 |
|
|
BSE LTD.
(PAN:AACCB6672L)
|
|
|
ENGAGED IN UNRELATED/NON-INCIDENTAL ACTIVITIES WITHOUT OBTAINING APPROVAL FROM SEBI VIOLATING REGULATIONS 38(2) OF SEBI (SECC) REGULATIONS 2018 READ WITH 41(3) OF SEBI (SECC) REGULATIONS, 2012
|
IMPOSED PENALTY RS.3,00,000
29-JUL-2022
|
SAT: SAT VIDE ITS ORDER DATED 16/09/2022 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. EFFECT AND OPERATION OF IMPUGNED ORDER TO REMAIN STAYED
SAT: SAT VIDE ITS ORDER DATED 21/11/2022 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 30/01/2023 CONDONED THE DELAY IN FILING OF APPEAL
SAT: SAT VIDE ITS ORDER DATED 06/12/2023 CONDONED THE DELAY IN FILING OF REPLY AND REPLY TAKEN ON RECORD
SAT: SAT VIDE ITS ORDER DATED 26/03/2025 GRANTED RESPONDENT ONE WEEK TO FILE WRITTEN SUBMISSIONS, IF ANY
SAT: SAT VIDE ITS ORDER DATED 02/05/2025 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 29/07/2022. NO COSTS
|
| 12 |
|
|
BSE LTD.
(PAN:AACCB6672L)
|
|
|
DID NOT VERIFY CLIENT SECURITIES (INCLUDING PLEDGED SECURITIES) WITH DP ACCOUNT DETAILS AVAILABLE WITH DEPOSITORIES VIOLATING PARA 4(A) OF SEBI MASTER CIRCULAR SEBI/MIRSD/MASTER CIR-04/2010 DATED 17/03/2010 READ WITH PARA 2 OF CIRCULAR SMD/SED/CIR/93/23321 DATED 18/11/1993
DID NOT MONITOR TIMELY REPORTING OF IMPUGNED DEMAT ACCOUNT BY MEMBER WITH APPROPRIATE NOMENCLATURE BASED TAGGING AND VERIFY SAME FROM DP ACCOUNT DETAILS AVAILABLE WITH DEPOSITORIES VIOLATING PARA 2.3 TO ANNEXURE OF SEBI CIRCULAR SEBI/HO/MIRSD/ MIRSD2/CIR/P/2016/95 DATED 26/09/2016 READ WITH PARA 1.1 AND 1.2 OF ANNEXURE TO SEBI CIRCULAR SEBI/HO/MIRSD/MIRSD2/ CIR/P/2016/95 DATED 26/09/2016
DID NOT TAKE ANY ACTION AGAINST KARVY STOCK BROKING LTD. DESPITE VARIOUS ALERTS PERTAINING TO OFF-MARKET TRANSFERS, MULTIPLE PROPRIETARY DEMAT ACCOUNTS, SUDDEN ACTIVATION OF DEMAT ACCOUNTS ETC. PROVIDED BY NSDL VIOLATING PARA 5 READ WITH PARAS 8.1 AND 2 OF EARLY WARNING MECHANISM CIRCULAR DATED 17/12/2018
|
IMPOSED PENALTY RS.3,00,00,000
12-APR-2022
|
SEBI VIDE ITS NOTICE DATED 15/06/2022 DIRECTED TO PAY RS.3,09,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SAT: SAT VIDE ITS ORDER DATED 16/06/2022 DIRECTED THAT NO RECOVERY TO BE MADE FROM THE APPELLANTS TILL THE DATE OF LISTING AND STAYED THE DEMAND NOTICE DATED 15/06/2022
SAT: SAT VIDE ITS ORDER DATED 24/06/2022 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER AND DIRECTED THAT THE EFFECT AND OPERATION OF IMPUGNED ORDER DATED 12/04/2022 SHALL REMAIN STAYED TILL THE NEXT DATE OF LISTING
SAT: SAT VIDE ITS ORDER DATED 12/08/2022 ALLOWED REPONDENT FURTHER THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 29/09/2022 ALLOWED APPELLANTS FURTHER THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 29/04/2025 DISMISSED THE APPEAL
|
| 13 |
|
|
CALCUTTA STOCK EXCHANGE ASSOCIATION LTD.
|
|
|
INDULGED IN UNAUTHORISED ACTIVITIES AND MARKET MANIPULATION
|
SHOW CAUSE NOTICE ISSUED
02-SEP-1997
|
|
| 14 |
|
|
CALCUTTA STOCK EXCHANGE ASSOCIATION LTD.
|
|
|
SEVERAL DEFICIENCIES IN RISK MANAGEMENT SYSTEM
SERIOUS SHORTCOMINGS IN COMPUTER SYSTEMS
DID NOT INITIATE PROCESS OF ENQUIRY, FIX RESPONSIBILITY AND TAKE APPROPRIATE ACTION FOR REMOVAL OF DEFICIENCIES
DID NOT INITIATE SYSTEMS AUDIT EXERCISE FOR ITS SURVEILLANCE SYSTEMS
|
SUPERSEDED BOARD OF DIRECTORS/GOVERNING BOARD/COMMITTEE/COUNCIL OF MANAGEMENT FROM 04-DEC-2003 TO 31-MAR-2006
04-DEC-2003
|
ON SUCESSFULLY COMPETION OF DEMUTUALISATION PROCESS,RESTORE ADMINISTRATION OF EXCHANGE TO THE BOARD OF THE EXCHANGE,RECONSTITUTED IN ACCORDANCE WITH THE COMPOSITION PRESCRIBED BY SEBI
|
| 15 |
|
|
CHINTA MANI PANDEY
|
|
|
|
MAGADH STOCK EXCHANGE ASSOCIATION LTD.
|
|
ALLOWED TRADING WITHOUT OBTAINING APPROVAL OF MAGADH STOCK EXCHANGE ASSOCIATION LTD.
|
SUSPENDED FROM ACTING IN ANY CAPACITY IN STOCK EXCHANGE OR IN ANY OTHER INSTITUTION RELATED WITH THE SECURITIES MARKET FROM 19-AUG-2005 TILL FURTHER ORDER
19-AUG-2005
|
DIRECTED MAGADH STOCK EXCHANGE ASSOCIATION TO INITIATE DISCIPLINARY PROCEEDINGS AGAINST ACCUSED FOR IMPOSING MAJOR PENALTY
SAT: APPEAL DISPOSED OFF, WITH DIRECTION TO SEBI TO PASS FINAL ORDER AND RESTRAINED MAGADH STOCK EXCHANGE FROM CONTINUING WITH DISCIPLINARY PROCEEDINGS AGAINST APPLICNAT TILL SEBI PASSES FINAL ORDER
|
| 16 |
|
|
COCHIN STOCK EXCHANGE LTD.
|
|
|
INADEQUATE INFRASTRUCTURE FACILITIES AVAILABLE WITH THE EXCHANGE
DID NOT MAINTAIN STIPULATED MINIMUM BMC
DID NOT RECOVER DUES FROM MEMBERS
|
DIRECTED GOVERNING BOARD OF STOCK EXCHANGE TO SUBMIT A COMPLIANCE REPORT WITH RESPECT TO OBSERVATIONS WHICH STILL HAVE NOT BEEN COMPLIED WITH
DIRECTED THE GOVERNING BOARD OF STOCK EXCHANGE TO BE MORE VIGILANT, CAUTIOUS AND CAREFUL IN FUTURE IN DISCHARGE OF ITS FUNCTIONS AS A SELF REGULATORY ORGANISATION
02-FEB-2006
|
|
| 17 |
|
|
COIMBATORE STOCK EXCHANGE LTD.
|
|
|
PASSED RESOLUTION ULTRA VIRES SCRA TO CEASE TO FUNCTION AS RECOGNIZED STOCK EXCHANGE
ADOPTED NEW SET OF MEMORANDUM AND ARTICLES OF ASSOCIATION EXCLUDING PUBLIC REPRESENTATIVE DIRECTOR AND SEBI NOMINEE DIRECTOR FROM BOARD OF DIRECTORS
CONDUCTED AFFAIRS OF EXCHANGE IN A MANNER DETRIMENTAL TO INTEREST OF INVESTORS
|
DIRECTED TO REFRAIN FROM TRANSFERRING OR ALIENATING ANY MOVABLE OR IMMOVABLE PROPERTY OF EXCHANGE
PROHIBITED FROM DOING ANYTHING HAVING EFFECT OF ALTERING BASIC CONTOURS AS WELL AS CHARACTER OF EXCHANGE FROM 17-APR-2006 TILL FURTHER ORDERS
17-APR-2006
|
|
| 18 |
|
|
DELHI STOCK EXCHANGE LTD.
|
|
|
CREATED NEW MEMBERSHIP RIGHTS WITHOUT FOLLOWING THE DUE PROCESS OF LAW
ISSUED FALSE CERTIFICATE OF COMPLETION OF DEMUTUALIZATION PROCESS
RELEASED RS.58.79 LACS TO MEFCOM CAPITAL MARKET LTD. AS COMMISSION WITHOUT RECEIPT OF APPLICATION MONEY
ALLOTTED SHARES TO MEDIA COMPANIES AND IN TURN AWARDED THEM MEDIA CONTRACTS WITHOUT ANY CORRESPONDING UTILIZATION OF MEDIA SPACE
|
RECOGNITION OF STOCK EXCHANGE WITHDRAWN
19-NOV-2014
|
SAT: SAT VIDE ITS ORDER DATED 24/06/2016 DIRECTED SEBI TO COMPLETE THE VOLUNTARY DE-RECOGNITION PROCESS WITHIN A PERIOD OF FIVE MONTHS FROM THE DATE OF THIS ORDER BY DETERMINING THE QUANTUM PAYABLE AND THE TIME WITHIN WHICH THE SAID PAYMENT IS TO BE MADE. FURHTER SEBI EXPUNGE THE REMEMRK MADE IN THE IMPUGNED ORDER THE EXTENT IT IS HELD THAT THE APPELLANT HAS FAILED TO TAKE ACTION AGAINST THE ERSTWHILE DIRECTORS OF THE APPELLANT. NO COSTS
|
| 19 |
|
|
GOPAL KUMAR
|
|
|
|
MAGADH STOCK EXCHANGE ASSOCIATION LTD.
|
|
VIOLATED SECTION 11 (C) 6 OF SEBI ACT, 1992
|
PROSECUTION LAUNCHED
31-MAR-2010
|
DISMISSED
|
| 20 |
|
|
HEMANT SINGH JHALA
(PAN:AAQPJ7906E)
|
|
|
|
AHMEDABAD STOCK EXCHANGE LTD.
|
|
PROPOSED PROMOTION OF EMPLOYEES OF AHMEDABAD STOCK EXCHANGE (ASE) WITHOUT RECOMMENDATIONS OF ASE
DID NOT OBJECT TO THE RESOLUTION IN THE MEETING HELD ON 25/08/2010
MISUSED PUBLIC FUNDS BY CLAIMING REIMBURSEMENTS FROM BOTH BSE AND ASE FOR SAME SEMINARS CONDUCTED BY AGIPT
|
WARNED TO BE MORE CAUTIOUS AND PERCEPTIVE IN DISCHARGE OF ITS REGULATORY DUTIES
DIRECTED GOVERNING BOARD OF STOCK EXCHANGE TO SUBMIT A COMPLIANCE REPORT WITH RESPECT TO OBSERVATIONS WHICH STILL HAVE NOT BEEN COMPLIED WITH
RESTRAINED MR.HEMENT SINGH JHALA FROM HOLDING ANY POSITION AS DIRECTOR WITH ANY SEBI REGISTERED INTERMEDIARY OR ENTITY FROM 25-APR-2014
25-APR-2014
|
SEBI VIDE ITS ORDER DATED 31/08/2017 RE-ITERATED THAT THE PERIOD OF RESTRAINT ALREADY UNDERGONE BY NOTICEE IS COMMENSURATE WITH THE VIOLATION COMMITTED HENCE NO FURTHER PERIOD OF RESTRAINT OR PROHIBITION IS REQUIRED IN THE PRESENT CASE. SCN DATED 05/01/2017 DISPOSED OFF ACCORDINGLY
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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