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 : 10-SEP-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.

PERSONS: VIOLATED SEBI (PFUTP) REGULATIONS, 2003

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

221

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

DEVISED AND IMPLEMENTED SCHEME WHICH FACILITATED SUBSCRIPTION OF GDRS BY VINTAGE FZE, UAE THROUGH FINANCE OBTAINED FROM EURAM BANK, AUSTRIA BY PLEDGING GDR VIOLATING SECTIONS 12A(A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D) AND 4(1) OF PFUTP REGULATIONS, 2003 IN MATTER OF ZENITH BIRLA (INDIA) LTD.

DIRECTED TO DISGORGE RS.59,06,12,484 ALONG WITH OTHER ENTITIES/PERSONS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-MAR-2021 TO 29-MAR-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 30-MAR-2021 TO 29-MAR-2024

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

30-MAR-2021

SAT: SAT VIDE ITS ORDER DATED 22/10/2021 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 22/12/2021 ALLOWED APPELLANT TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 09/03/2022 ALLOWED APPELLANTS FURTHER THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 08/04/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 30/08/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 28/11/2023 REJECTED STAY APPLICATION AND ALLOWED EXEMPTION APPLICATION

SAT: SAT VIDE ITS ORDER DATED 29/01/2024 CONDONED THE DELAY IN FILING OF APPEAL AND REPLY TAKEN ON RECORD WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/03/2024 ALLOWED APPELLANTS ADDITIONAL THREE WEEKS TO FILE REJOINDER

SEBI VIDE ITS NOTICE DATED 11/06/2024 DIRECTED TO PAY RS.1,12,34,88,190.33 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SAT: SAT VIDE ITS ORDER DATED 31/07/2024 GRANTED APPELLANT A WEEK TO FILE REJOINDER

SEBI VIDE ITS ORDER DATED 19/08/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

222

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

Click here to view complete history of this specific entity/person

ALKA INDIA LTD.

PAN:AABCA6702F

PAN ASIA ADVISORS LTD.

INDULGED IN FACILITATING SUBSCRIPTION OF GDRS BY VINTAGE FZE, UAE THROUGH FINANCE OBTAINED FROM EURAM BANK, AUSTRIA FOR SUBSCRIPTION OF GDR AND ISSUER COMPANIES (ASAHI), (AVON), CAT), (IKF), (K SERA) AND (MAARS) PLEDGED GDR WITH EURAM BANK VIOLATING SECTIONS 12A(A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(C), 3(D), 4(1), 4(2)(C), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF ASAHI INFRASTRUCTURE & PROJECTS LTD., AVON CORP.LTD., CAT TECHNOLOGIES LTD., IKF TECHNOLOGIES LTD., K SERA SERA LTD. AND MAARS SOFTWARE INTERNATIONAL LTD.

IMPOSED PENALTY RS.25,00,00,000

08-JUN-2021

SEBI VIDE ITS NOTICE DATED 05/08/2022 DIRECTED TO PAY RS.28,47,68,123.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SAT: SAT VIDE ITS ORDER DATED 18/10/2022 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY

SAT: SAT VIDE ITS ORDER DATED 17/11/2022 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 20/02/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 25/04/2023 DISMISSED THE APPEAL FOR WANT OF PROSECUTION

SEBI VIDE ITS NOTICE DATED 18/03/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.33,50,01,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG

223

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF WINSOME VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF WINSOME YARNS LTD.

IMPOSED PENALTY RS.20,00,000

29-OCT-2020

224

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF HIRAN VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF HIRAN ORGOCHEM LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 06-OCT-2021 TO 05-OCT-2031

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 06-OCT-2021 TO 05-OCT-2031

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 06-OCT-2021 TO 05-OCT-2031

06-OCT-2021

225

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

HIGHBLUE SKY EMERGING MARKET FUND

PAN:AADCK9460G

INDIA FOCUS CARDINAL FUND

PAN:AABCI9518D

VINTAGE FZE

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF FARMAX VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF FARMAX INDIA LTD.

DIRECTED TO DISGORGE RS.2,57,674 ALONG WITH OTHER ENTITIES/PERSONS

14-JUL-2020

SAT: SAT VIDE ITS ORDER DATED 21/10/2021 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SEBI VIDE ITS NOTICE DATED 19/01/2024 DIRECTED TO PAY RS.82,82,31,863.10 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 11/03/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

226

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF RAINBOW PAPERS LTD. VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF RAINBOW PAPERS LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 26-OCT-2021 TO 25-OCT-2031

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 26-OCT-2021 TO 25-OCT-2031

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 26-OCT-2021 TO 25-OCT-2031

26-OCT-2021

SAT: SAT VIDE ITS ORDER DATED 23/01/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 20/02/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 25/04/2023 DISMISSED THE APPEAL FOR WANT OF PROSECUTION

SEBI VIDE ITS NOTICE DATED 06/06/2024 DIRECTED TO PAY RS.1,46,22,857.18 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

227

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF EDSERV VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF GDR ISSUE OF EDSERV SOFTSYSTEMS LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 14-OCT-2021 TO 13-OCT-2031

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 14-OCT-2021 TO 13-OCT-2031

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 14-OCT-2021 TO 13-OCT-2031

14-OCT-2021

228

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

IMPOSED PENALTY RS.20,00,000

31-MAY-2022

SAT: SAT VIDE ITS ORDER DATED 28/03/2023 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 16/06/2022 AND MATTER REMITTED TO AO TO PASS FRESH ORDER

SEBI VIDE ITS ORDER DATED 26/07/2023 MODIFIED ITS ORDER DATED 31/05/2022 PENALTY AMOUNT ENHANCED TO RS.20 LAC FROM RS.10 LAC U/S 15HA OF SEBI ACT, 1992

SEBI VIDE ITS NOTICE DATED 06/12/2023 DIRECTED TO PAY RS.21,21,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 07/02/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

SEBI VIDE ITS ORDER DATED 21/08/2024 DIRECTED TO A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CREATING CHARGE IN RESPECT OF ALL THE IMMOVABLE AND MOVABLE PROPERTIES LISTED IN ORDER B) PROHIBITED FROM TAKING ANY BENEFIT UNDER ANY DISPOSAL, TRANSFER, ALIENATION OR CREATING CHARGE IN RESPECT OF THE PROPERTIES LISTED IN ORDER C) DIRECTED TO FURNISH COMPLETE DETAILS OF ALL MOVABLE AND IMMOVABLE PROPERTIES HELD BY DEFAULTERS AND CHARGES, IF ANY, WITHIN ONE WEEK FROM DATE OF THIS ORDER DULY CERTIFIED COPIES OF ALL THE TITLE DEEDS, VALUATION REPORTS OF ALL THE PROPERTIES HLED BY DEFAULTER WITHIN TWO WEEKS FROM DATE OF THIS ORDER D) DIRECTED INSPECTORS GENERAL OF REGISTRATION OF MAHARASHTRA AND THE CONCERNED SUB-REGISTRARS OF THE RESPECTIVE AREAS WHERE THE PROPERTIES ARE LOCATED E) NOT TO ACT UPON ANY DOCUMENTS PURPORTING TO BE DEALING WITH TRANSFER, MORTGAGE, CHARGE, LEASE OR CREATION OR ALTERATION OF ANY INTEREST IN ANY OF THE PROPERTIES OWNED/HELD BY THE DEFAULTERS, IF PRESENTED FOR REGISTRATION

SAT: SAT VIDE ITS ORDER DATED 27/01/2025 DISMISSED THE APPEAL AS INFRUCTUOUS. GRANTED APPELLANT EIGHT WEEKS TO DEPOSIT PENALTY AMOUNT WITH SEBI

229

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

RAINBOW PAPERS LTD.

CIN:L21010GJ1986PLC008772
PAN:AAACR5415K

IMPOSED PENALTY RS.20,00,000

27-MAY-2022

230

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

TELEDATA TECHNOLOGY SOLUTIONS LTD.

PAN:AACCT5488Q

INDULGED IN FRAUDULENT SCHEME WITHOUT PAYING REAL CONSIDERATION TO TRANSFERRED AND RECEIVED GDRS VIOLATING SECTIONS 12A(A) OF SEBI ACT. 1992 AND REGULATIONS 3(B) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF TELEDATA TECHNOLOGY SOLUTIONS LTD.

IMPOSED PENALTY RS.20,00,000

31-MAY-2022

SAT: SAT VIDE ITS ORDER DATED 28/03/2023 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 16/06/2022 AND MATTER REMITTED TO AO TO PASS FRESH ORDER

SEBI VIDE ITS ORDER DATED 31/07/2023 RE-IMPOSED PENALTY OF RS.20 LAC U/S 15HA OF SEBI ACT, 1992

SEBI VIDE ITS NOTICE DATED 05/12/2023 DIRECTED TO PAY RS.21,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 07/02/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

SEBI VIDE ITS ORDER DATED 21/08/2024 DIRECTED TO A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CREATING CHARGE IN RESPECT OF ALL THE IMMOVABLE AND MOVABLE PROPERTIES LISTED IN ORDER B) PROHIBITED FROM TAKING ANY BENEFIT UNDER ANY DISPOSAL, TRANSFER, ALIENATION OR CREATING CHARGE IN RESPECT OF THE PROPERTIES LISTED IN ORDER C) DIRECTED TO FURNISH COMPLETE DETAILS OF ALL MOVABLE AND IMMOVABLE PROPERTIES HELD BY DEFAULTERS AND CHARGES, IF ANY, WITHIN ONE WEEK FROM DATE OF THIS ORDER DULY CERTIFIED COPIES OF ALL THE TITLE DEEDS, VALUATION REPORTS OF ALL THE PROPERTIES HLED BY DEFAULTER WITHIN TWO WEEKS FROM DATE OF THIS ORDER D) DIRECTED INSPECTORS GENERAL OF REGISTRATION OF MAHARASHTRA AND THE CONCERNED SUB-REGISTRARS OF THE RESPECTIVE AREAS WHERE THE PROPERTIES ARE LOCATED E) NOT TO ACT UPON ANY DOCUMENTS PURPORTING TO BE DEALING WITH TRANSFER, MORTGAGE, CHARGE, LEASE OR CREATION OR ALTERATION OF ANY INTEREST IN ANY OF THE PROPERTIES OWNED/HELD BY THE DEFAULTERS, IF PRESENTED FOR REGISTRATION

SAT: SAT VIDE ITS ORDER DATED 27/01/2025 DISMISSED THE APPEAL AS INFRUCTUOUS. GRANTED APPELLANT EIGHT WEEKS TO DEPOSIT PENALTY AMOUNT WITH SEBI

231

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN FRAUDULENT ARRANGEMENT TO SUBSCRIPTION OF GDR ISSUE VIOLATING SECTION 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF GDR ISSUE OF ZENITH STEEL PIPES & INDUSTRIES LTD. (ERSTWHILE ZENITH BIRLA (INDIA) LTD.)

IMPOSED PENALTY RS.20,00,000

16-JUN-2022

SAT: SAT VIDE ITS ORDER DATED 28/03/2023 CONDONED THE DELAY OF 139 DAYS IN FILING OF APPEAL. ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 16/06/2022 AND MATTER REMITTED TO AO TO PASS FRESH ORDER

SEBI VIDE ITS ORDER DATED 26/07/2023 RE-IMPOSED PENALTY OF RS.20 LAC U/S 15HA OF SEBI ACT, 1992

SEBI VIDE ITS NOTICE DATED 06/12/2023 DIRECTED TO PAY RS.21,21,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 07/02/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

SEBI VIDE ITS ORDER DATED 21/08/2024 DIRECTED TO A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CREATING CHARGE IN RESPECT OF ALL THE IMMOVABLE AND MOVABLE PROPERTIES LISTED IN ORDER B) PROHIBITED FROM TAKING ANY BENEFIT UNDER ANY DISPOSAL, TRANSFER, ALIENATION OR CREATING CHARGE IN RESPECT OF THE PROPERTIES LISTED IN ORDER C) DIRECTED TO FURNISH COMPLETE DETAILS OF ALL MOVABLE AND IMMOVABLE PROPERTIES HELD BY DEFAULTERS AND CHARGES, IF ANY, WITHIN ONE WEEK FROM DATE OF THIS ORDER DULY CERTIFIED COPIES OF ALL THE TITLE DEEDS, VALUATION REPORTS OF ALL THE PROPERTIES HLED BY DEFAULTER WITHIN TWO WEEKS FROM DATE OF THIS ORDER D) DIRECTED INSPECTORS GENERAL OF REGISTRATION OF MAHARASHTRA AND THE CONCERNED SUB-REGISTRARS OF THE RESPECTIVE AREAS WHERE THE PROPERTIES ARE LOCATED E) NOT TO ACT UPON ANY DOCUMENTS PURPORTING TO BE DEALING WITH TRANSFER, MORTGAGE, CHARGE, LEASE OR CREATION OR ALTERATION OF ANY INTEREST IN ANY OF THE PROPERTIES OWNED/HELD BY THE DEFAULTERS, IF PRESENTED FOR REGISTRATION

232

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN FACILITATING SUBSCRIPTION OF GDRS AMOUNTING TO USD 9.99 MN.BY VINTAGE FZE, UAE THROUGH FINANCE OBTAINED FROM EURAM BANK, AUSTRIA FOR SUBSCRIPTION OF GDR AND ISSUER COMPANY (WINSOME) PLEDGED GDR WITH EURAM BANK VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B), 4(1), 4(2)(F), (K) AND (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF WINSOME TEXTILE INDUSTRIES LTD.

IMPOSED PENALTY RS.20,00,000

15-DEC-2021

SEBI VIDE ITS NOTICE DATED 10/06/2024 DIRECTED TO PAY RS.87,77,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 01/07/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

SEBI VIDE ITS NOTICE DATED 02/08/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.89,11,01,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG

SAT: SAT VIDE ITS ORDER DATED 15/10/2025 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER TO PAY DISGORGE AMOUNT AND PENALTY OF RS 67 CRORES. MATTER REMITTED TO SEBI TO RE-EXAMINE QUANTUM OF FINE IMPOSED AND PASS A FRESH ORDER ACCORDANCE WITH LAW. NO COSTS

SEBI VIDE ITS ORDER DATED 05/02/2026 REDUCED PENALTY TO RS.20 LAC FROM RS.67 CRORE U/S 15HA OF SEBI ACT,1992

SEBI VIDE ITS NOTICE DATED 05/05/2026 ALLOWED THE APPEAL AND DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK ACCOUNTS INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUND FOLIOS OF THE DEFAULTERS WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 01/07/2024

233

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

HIGHBLUE SKY EMERGING MARKET FUND

PAN:AADCK9460G

INDIA FOCUS CARDINAL FUND

PAN:AABCI9518D

VINTAGE FZE

DIRECTED TO DISGORGE RS.51,74,09,104 ALONG WITH OTHER ENTITIES/PERSONS

14-JUL-2020

SAT: SAT VIDE ITS ORDER DATED 21/10/2021 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SEBI VIDE ITS NOTICE DATED 19/01/2024 DIRECTED TO PAY RS.73,61,94,071.36 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 11/03/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

234

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF SOUTHERN ISPAT & ENERGY LTD. VIOLATING SECTIONS 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF GDR ISSUE OF SOUTHERN ISPAT & ENERGY LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 22-OCT-2021 TO 21-OCT-2031

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 22-OCT-2021 TO 21-OCT-2031

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 22-OCT-2021 TO 21-OCT-2031

DIRECTED TO DISGORGE RS.23,06,00,000 ALONG WITH OTHER ENTITIES/PERSONS

22-OCT-2021

235

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN FACILITATING SALE OF ILLEGALLY ACQUIRED SECURITIES IN INDIAN SECURITIES MARKET VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF GDR ISSUE OF RASOYA PROTEINS LTD.

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 22-OCT-2021 TO 21-OCT-2031

24-SEP-2014

SEBI VIDE ITS ORDER DATED 21/10/2021 RESTRAINED FROM HOLDING ANY POSITION OF DIRECTOR OR KEY MANAGERIAL PERSONNEL IN ANY LISTED COMPANY OR ANY INTERMEDIARY REGISTERED WITH SEBI, OR ASSOCIATING THEMSELVES WITH ANY LISTED PUBLIC COMPANY OR A PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FOR TEN YEARS

236

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN APPROVAL OF BOARD RESOLUTION OF GDR ISSUE VIOLATING SECTION 12A (A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF AQUA LOGISTICS LTD.

IMPOSED PENALTY RS.10,00,00,000

29-SEP-2020

SEBI VIDE ITS NOTICE DATED 10/06/2024 DIRECTED TO PAY RS.14,60,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 21/08/2024 DIRECTED TO A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CREATING CHARGE IN RESPECT OF ALL THE IMMOVABLE AND MOVABLE PROPERTIES LISTED IN ORDER B) PROHIBITED FROM TAKING ANY BENEFIT UNDER ANY DISPOSAL, TRANSFER, ALIENATION OR CREATING CHARGE IN RESPECT OF THE PROPERTIES LISTED IN ORDER C) DIRECTED TO FURNISH COMPLETE DETAILS OF ALL MOVABLE AND IMMOVABLE PROPERTIES HELD BY DEFAULTERS AND CHARGES, IF ANY, WITHIN ONE WEEK FROM DATE OF THIS ORDER DULY CERTIFIED COPIES OF ALL THE TITLE DEEDS, VALUATION REPORTS OF ALL THE PROPERTIES HLED BY DEFAULTER WITHIN TWO WEEKS FROM DATE OF THIS ORDER D) DIRECTED INSPECTORS GENERAL OF REGISTRATION OF MAHARASHTRA AND THE CONCERNED SUB-REGISTRARS OF THE RESPECTIVE AREAS WHERE THE PROPERTIES ARE LOCATED E) NOT TO ACT UPON ANY DOCUMENTS PURPORTING TO BE DEALING WITH TRANSFER, MORTGAGE, CHARGE, LEASE OR CREATION OR ALTERATION OF ANY INTEREST IN ANY OF THE PROPERTIES OWNED/HELD BY THE DEFAULTERS, IF PRESENTED FOR REGISTRATION

SEBI VIDE ITS ORDER DATED 28/08/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

237

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 14-JUL-2020 TO 13-JUL-2025

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

14-JUL-2020

SAT: SAT VIDE ITS ORDER DATED 21/10/2021 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

238

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

INDULGED IN ISSUANCE OF GDRS FRAUDULENTLY AND EXECUTED PLEDGE AGREEMENT ON BEHALF OF VIKASH VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF VIKASH METAL & POWER LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 29-SEP-2021 TO 28-SEP-2031

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-SEP-2021 TO 28-SEP-2031

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 29-SEP-2021 TO 28-SEP-2031

DIRECTED TO DISGORGE RS.4,93,85,831 ALONG WITH OTHER ENTITIES/PERSONS

29-SEP-2021

SEBI VIDE ITS NOTICE DATED 11/06/2024 DIRECTED TO PAY RS.12,39,60,789.33 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 09/08/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

239

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

DEVISED MANIPULATIVE AND FRAUDULENT SCHEME RECEIVED ALLOTMENT OF GDRS WITHOUT PAYING CONSIDERATION/SUBSCRIPTION MONEY VIOLATING SECTION 12A(A) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(B) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF AQUA LOGISTICS LTD.

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 22-JUL-2021 TO 21-JUL-2024

DIRECTED TO DISGORGE RS.88,15,000 ALONG WITH OTHER ENTITIES/PERSONS

DIRECTED TO REMIT DISGORGED AMOUNT TO INVESTOR PROTECTION & EDUCATION FUND (IPEF)

22-JUL-2021

SAT: SAT VIDE ITS ORDER DATED 07/10/2021 DIRECTED CONDONED THE DELAY OF 371 DAYS IN FILING OF APPEAL AND ALLOWED THE APPLICATION

SEBI VIDE ITS NOTICE DATED 12/06/2024 DIRECTED TO PAY RS.2,28,06,629.04 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 09/08/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED

240

ARUN RAMSWAROOP PANCHARIYA

(PAN:AEVPP6125N)

SOUTHERN ISPAT & ENERGY LTD.

CIN:L45309KL1995PLC009171
PAN:AAECS6476P

IMPOSED PENALTY RS.20,00,000

26-MAY-2022