| S.No. |
PERSON |
ENTITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 221 |
|
GURUMURTHI JAYARAMAN
(PAN:AADPJ1767C)
|
|
|
|
SECUREKLOUD TECHNOLOGIES LTD.
PAN:AABCP6266D
|
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INDULGED IN MANIPULATION OF BOOKS OF ACCOUNTS OR FINANCIAL STATEMENTS AND SIPHONING OF FUNDS RS.3.83 CRORE VIOLATING SECTIONS 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(D), 4(1), 4(2)(F, 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATION, 2003 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT FURNISH NECESSARY INFORMATION/DOCUMENTS SOUGHT BY FORENSIC AUDITOR IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
INDULGED IN PREPARING AND SUBMITTING AND PUBLISHING FALSE & MANIPULATED CONSOLIDATED AND STANDALONE FINANCIAL RESULTS TO STOCK EXCHANGES VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), (G), (H), (J), 4(2)(F)(I)(2), 4(2)(F)(II)(2), (6),(7), 4(2)(F)(III) (1)(3), (6) AND (12) READ WITH REGULATION 33(1)(A), (C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT EXERCISE DUE DILIGENCE AS MEMBER OF AUDIT COMMITTEE VIOLATING REGULATION 18(3) READ WITH PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-DEC-2022 TO 15-DEC-2023
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-DEC-2022 TO 15-DEC-2023
IMPOSED PENALTY RS.1,00,00,000
16-DEC-2022
|
SAT: SAT VIDE ITS ORDER DATED 28/02/2023 DISPOSED OF URGENCY APPLICATION. RESPONDENT TO FILE REPLY
SAT: SAT VIDE ITS ORDER DATED 23/03/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 03/05/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 28/06/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 04/08/2023 CONDONED THE DELAY IN FILING OF APPEAL
SEBI VIDE ITS NOTICE DATED 23/04/2025 DIRECTED TO PAY RS.1,29,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SAT: SAT VIDE ITS ORDER DATED 29/04/2025 STAYED RECOVERY PROCEEDINGS SUBJECT TO DEPOSIT 50% PENALTY AMOUNT WITHIN SIX WEEKS FROM DATE OF THIS ORDER
SEBI VIDE ITS ORDER DATED 10/03/2026 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS, MUTUAL FUNDS FOLIOS AND/OR POST OFFICE ACCOUNT 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
SAT: SAT VIDE ITS ORDER DATED 06/03/2026 DISMISSED THE APPEAL. NO COSTS
SEBI VIDE ITS NOTICE DATED 21/04/2026 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.66,41,566.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
SEBI VIDE ITS NOTICE DATED 08/06/2026 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 10/03/2026
SEBI VIDE ITS ORDER DATED 08/06/2026 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.8708 OF 2025 DATED 23/04/2025
|
| 222 |
|
|
GURUMURTHI JAYARAMAN
(PAN:AADPJ1767C)
|
|
|
|
SECUREKLOUD TECHNOLOGIES LTD.
PAN:AABCP6266D
|
|
APPOINTMENT OF RELATIVE OF INDEPENDENT DIRECTORS IN COMPANY/SUBSIDIARY VIOLATING REGULATIONS 16(1)(B) (VI) READ WITH REGULATION 4(2)(F)(III) (6) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
PECUNIARY TRANSACTIONS WITH RELATED PARTY EXCEEDED LIMITS PRESCRIBED VIOLATING REGULATIONS 16(1)(B) (VI) READ WITH REGULATION 4(2)(F)(III) (6) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT ADHERE TO CODE OF CONDUCT OF BOARD OF DIRECTORS AND SENIOR MANAGEMENT VIOLATING REGULATIONS 26(3) READ WITH 17(5) OF SEBI (LODR) REGULATIONS, 2015 AND CLAUSES 7 AND 8 OF PARA I OF SCHEDULE IV OF COMPANIES ACT, 2013 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
|
IMPOSED PENALTY RS.5,00,000
14-SEP-2022
|
SAT: SAT VIDE ITS ORDER DATED 22/11/2022 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. DIRECTED APPELLANT TO DEPOSIT PENALTY OF RS.10 LAC WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. IF AMOUNT DEPOSITED, BALANCE AMOUNT NOT TO BE RECOVERED DURING PENDENCY OF APPEAL
SAT: SAT VIDE ITS ORDER DATED 20/01/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 10/04/2023 DIRECTED TO FILE WRITTEN SUBMISSION WITHIN THREE WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 12/06/2023 PARTLY ALLOWED THE APPEAL BY REDUCING PENALTY AMOUNT TO RS.5 LAC FROM RS.10 LAC
SAT: SAT VIDE ITS ORDER DATED 07/06/2023 CONDONED THE DELAY IN FILING OF APPEAL
SEBI VIDE ITS NOTICE DATED 13/12/2023 DIRECTED TO PAY RS.5,36,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 20/12/2023 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7472 OF 2023 DATED 14/09/2022
SAT: SAT VIDE ITS ORDER DATED 06/03/2026 DISMISSED THE APPEAL. NO COSTS
|
| 223 |
|
|
GURUMURTHI JAYARAMAN
(PAN:AADPJ1767C)
|
|
|
AIDED AND ABETTED MANIPULATION OF BOOKS OF ACCOUNTS AND FINANCIAL STATEMENTS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATION 3(B) TO 3(D), 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
INDULGED IN PREPARING AND SUBMITTING AND PUBLISHING FALSE & MANIPULATED CONSOLIDATED AND STANDALONE FINANCIAL RESULTS TO STOCK EXCHANGES VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), (G), (H), (J), 4(2)(F)(I)(2), 4(2)(F)(II)(2), (6),(7), 4(2)(F)(III) (1)(3), (6) AND (12) READ WITH REGULATION 33(1)(A), (C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT DISCLOSE INCORPORATION OF FOREIGN SUBSIDIARIES VIOLATING REGULATION 48 OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT EXERCISE DUE DILIGENCE AS MEMBER OF AUDIT COMMITTEE VIOLATING REGULATION 18(3) READ WITH PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015
MADE FALSE STATEMENTS TO SEBI VIOLATING SECTIONS 11C(3) AND 11C(5) OF SEBI ACT, 1992 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
|
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-AUG-2022 UNTIL FURTHER ORDERS
RESTRAINED FROM ASSOCIATED WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY AS DIRECTORS/PROMOTERS WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC AND/OR ANY INTERMEDIARY WITH SEBI FROM 04-AUG-2022 UNTIL FURTHER ORDERS
04-AUG-2022
|
|
| 224 |
|
|
GURUMURTHI JAYARAMAN
(PAN:AADPJ1767C)
|
|
|
|
SECUREKLOUD TECHNOLOGIES LTD.
PAN:AABCP6266D
|
|
INDULGED IN MANIPULATION OF BOOKS OF ACCOUNTS OR FINANCIAL STATEMENTS AND SIPHONING OF FUNDS RS.3.83 CRORE VIOLATING SECTIONS 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(D), 4(1), 4(2)(F, 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATION, 2003 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT FURNISH NECESSARY INFORMATION/DOCUMENTS SOUGHT BY FORENSIC AUDITOR IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
INDULGED IN PREPARING AND SUBMITTING AND PUBLISHING FALSE & MANIPULATED CONSOLIDATED AND STANDALONE FINANCIAL RESULTS TO STOCK EXCHANGES VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), (G), (H), (J), 4(2)(F)(I)(2), 4(2)(F)(II)(2), (6),(7), 4(2)(F)(III) (1)(3), (6) AND (12) READ WITH REGULATION 33(1)(A), (C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES LTD.)
DID NOT EXERCISE DUE DILIGENCE AS MEMBER OF AUDIT COMMITTEE VIOLATING REGULATION 18(3) READ WITH PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SECUREKLOUD TECHNOLOGIES LTD. (FORMERLY KNOWN AS 8K MILES SOFTWARE SERVICES 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 16-DEC-2022 TO 15-JUN-2023
16-DEC-2022
|
SAT: SAT VIDE ITS ORDER DATED 28/02/2023 DISPOSED OF URGENCY APPLICATION. RESPONDENT TO FILE REPLY
SAT: SAT VIDE ITS ORDER DATED 23/03/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 03/05/2023 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 28/06/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 04/08/2023 CONDONED THE DELAY IN FILING OF APPEAL
SAT: SAT VIDE ITS ORDER DATED 29/04/2025 STAYED RECOVERY PROCEEDINGS SUBJECT TO DEPOSIT 50% PENALTY AMOUNT WITHIN SIX WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 06/03/2026 DISMISSED THE APPEAL. NO COSTS
|
| 225 |
|
|
GURUNATH MUDLAPUR
(PAN:AEGPM9121C)
|
|
|
|
ONELIFE CAPITAL ADVISORS LTD.
PAN:AAACO9540L
|
|
DID NOT EXERCISE DUE DILIGENCE AS A MEMBER OF AUDIT COMMITTEE VIOLATING REGULATION 18(3) READ WITH CLAUSES A(1) AND A(4) UNDER PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF ONELIFE CAPITAL ADVISORS LTD.
|
IMPOSED PENALTY RS.3,00,000
28-MAR-2025
|
SAT: SAT VIDE ITS ORDER DATED 13/06/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER IF ANY, TO BE FILED WITHIN THREE WEEKS THEREAFTER
|
| 226 |
|
|
H.S.VENKATESH
(PAN:AAHPV2269D)
|
|
|
|
CEREBRA INTEGRATED TECHNOLOGIES LTD.
PAN:AAACC5941K
|
|
INDULGED IN MISUTILISATION/ DIVERSION/ MISAPPROPRIATION OF FUNDS AND PUBLISED OF MANIPULATED/ MISREPRESENTED/MISSTATED FINANCIAL STATEMENTS VIOLATING SECTION 27(1) OF SEBI ACT. 1992 AND REGULATIONS 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI(PFUTP) REGULATIONS, 2003IN MATTER OF CEREBRA INTEGRATED TECHNOLOGY LTD.
CERTIFIED FALSE AND MISLEADING FINANCIAL STATEMENTS VIOLATING REGULATION 17(8) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF CEREBRA INTEGRATED TECHNOLOGY 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 30-JAN-2025 TO 29-JAN-2026
IMPOSED PENALTY RS.6,00,000
30-JAN-2025
|
SAT: SAT VIDE ITS ORDER DATED 16/04/2025 GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER. STAYED RECOVERY PROCEEDINGS SUBJECT TO DEPOSIT 50% OF PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 08/08/2025 GRANTED RESPONDENT TWO WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 13/10/2025 GRANTED THREE WEEKS TO FILE REJOINDER AND FOUR MORE WEEKS TO DEPOSIT 50% OF PENALTY AMOUNT
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| 227 |
|
|
HAMID AHMED
|
|
|
|
RELIGARE ENTERPRISES LTD.
PAN:AAACV5888N
|
|
DID NOT MAINTAIN HIGH ETHICAL STANDARDS AND TAKE INTO ACCOUNT THE INTEREST OF STAKEHOLDERS VIOLATING REGULATION 4(2)(F) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RELIGARE ENTERPRISES LTD.
|
DIRECTED TO FURNISH UNDERTAKING THAT RELIGARE ENTERPRISES LTD. SHALL APPLY TO REGULATORY AUTHORITIES INCLUDING RBI ON OR BEFORE 12/07/2024 FOR ALL THE REQUISITE STATUTORY APPROVALS THAT ARE NECESSARY FOR PROCEEDING WITH OPEN OFFER BY ACQUIRERS
DIRECTED TO TAKE ALL THE NECESSARY STEPS TO FACILITATE THE ACQUIRERS TO FULFIL THEIR OBLIGATIONS UNDER SAST REGULATIONS, 2011
DIRECTED TO CONSTITUTE COMMITTEE OF INDEPENDENT DIRECTORS IN TERMS OF REGULATIONS 26(6) OF SAST REGULATIONS, 2011
19-JUN-2024
|
SAT: SAT VIDE ITS ORDER DATED 10/07/2024 GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, TO BE FILED WITHIN FOUR WEEKS THEREAFTER. IN THE MEANWHILE, DIRECTION IN PARAGRAPH 35 OF IMPUGNED ORDER TO REMAIN STAYED
SAT: SAT VIDE ITS ORDER DATED 29/08/2024 CONDONED THE DELAY IN FILING OF REPLY. APPELLANTS SEEK TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 18/10/2024 GRANTED TEN DAYS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 05/01/2026 DISMISSED THE APPEAL AS WITHDRAWN ON 25/07/2025
SEBI VIDE ITS ORDER DATED 31/07/2026 DISPOSE OF INTERIM ORDER CUM SCN DATED 19/06/2024 WITHOUT ANY DIRECTIONS
|
| 228 |
|
|
HANS KUMAR VERMA
(PAN:ACZPV9909Q)
|
|
|
DID NOT INDEPENDENTLY EVALUATE THE ACCURACY OF FINANCIAL STATEMENTS VIOLATING REGULATIONS 18(3) READ WITH PARA A OF PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SANWARIA CONSUMER LTD.
|
IMPOSED PENALTY RS.1,00,000
20-SEP-2023
|
|
| 229 |
|
|
HARDAYAL PRASAD
(PAN:ABEPP9257D)
|
|
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PNB HOUSING FINANCE LTD.
PAN:AAACP3682N
|
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ALLEGED FAILURE IN OBTAINING REGISTERED VALUER’S REPORT IN ACCORDANCE WITH ARTICLE 19(2) OF ARTICLES OF ASSOCIATION (AOA) OF COMPANY VIOLATING REGULATIONS 4(2)(F)(III)(3), (6) AND (7) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF PNB HOUSING FINANCE LTD.
ALLEGED FAILURE TO TAKE INTO ACCOUNT THE INTERESTS OF ALL STAKEHOLDER BY NOT ACCOUNTING FOR CONTROL PREMIUM IN PRICING OF THE PREFERENTIAL ISSUE VIOLATING REGULATIONS 4(2)(F)(III)(3), (6) AND (7) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF PNB HOUSING FINANCE LTD.
ALLEGED FAILURE IN MAKING ADEQUATE AND TIMELY DISCLOSURE OF MATERIAL INFORMATION TO STOCK EXCHANGES VIOLATING REGULATIONS 4(1)(D), 4(1)(H), 4(2)(B), 4(2)(E)(I), 4(2)(E)(II) AND 30(12) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF PNB HOUSING FINANCE LTD.
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REACHED SETTLEMENT (SETTLEMENT CHARGES RS.28,50,000, INTEREST RS.44,26,533 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
18-JUL-2022
|
|
| 230 |
|
|
HARISH CHAND JAIN
(PAN:ABFPJ7588Q)
(Along with : RAJSHREE JAIN,
PRADEEP JAIN)
|
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MISREPRESENTED/ MANIPULATED FINANCIAL STATEMENTS VIOLATING SECTIONS 12(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF RAJASTHAN TUBE MANUFACTURING CO.LTD.
MISREPRESENTED/ MANIPULATED FINANCIAL STATEMENTS VIOLATING REGULATIONS 4(1)(A) TO 4(1)(E), 4(1)(G) TO 4(1)(J), 4(2)(E)(I), 33(1)(C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH IND AS-1, SECTIONS 27(1) AND 27(2) AND SECTION 21 OF SCRA, 1956 IN MATTER OF RAJASTHAN TUBE MANUFACTURING CO.LTD.
INDULGED IN MISUTILISATION/ DIVERSION/ MISAPPROPRIATION OF FUNDS VIOLATING REGULATIONS 4(2)(E)(I), 4(2)(F)(I)(2), 4(2)(F)(II)(1)(2)(6)(7)(8), 4(2)(F)(III) (1),(3),(6),(7), (12) AND (13) OF SEBI (LODR) REGULATIONS, 2015 1956 IN MATTER OF RAJASTHAN TUBE MANUFACTURING CO.LTD.
CERTIFIED FALSE AND MISLEADING FINANCIAL STATEMENTS VIOLATING REGULATIONS 17(8) READ WITH PART B OF SCHEDULE II AND 33(2)(A) OF SEBI (LODR) REGULATION, 2015 IN MATTER OF RAJASTHAN TUBE MANUFACTURING CO.LTD.
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IMPOSED PENALTY RS.30,00,000 ALONG WITH OTHER ENTITIES/PERSONS
04-SEP-2025
|
SAT: SAT VIDE ITS ORDER DATED 05/12/2025 CONDONED THE DELAY OF 28 DAYS IN FILING OF APPEAL. GRANTED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. NO COERCIVE ACTION TO RECOVER PENALTY AMOUNT SUBJECT TO DEPOSIT 50% PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
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| 231 |
|
|
HARISH GANGARAM AGARWAL
(PAN:ABUPA3505F)
|
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PRABHU STEEL INDUSTRIES LTD.
PAN:AABCP0025E
|
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MISPRESENTED FINANCIAL STATEMENTS VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), 4(1)(G), 4(1)(H), 4(2)(F)(I)(2), 4(2)(F)(II)(2), 4(2)(F)(II)(7), 4(2)(F)(II)(8), 4(2)(F)(III)(1), 4(2)(F)(III)(3), 4(2)(F)(III)(6), 4(2)(F)(III)(12) AND 33(1)(A)(C) OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTIONS 21 AND 24 OF SCRA, 1956 AND SECTION 27 OF SEBI ACT, 1992 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT ADHERE TO ACCOUNTING STANDARD VIOLATING REGULATION 48 OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
DID NOT MAKE DISCLOSURE OF RELATED PARTY TRANSACTIONS VIOLATING REGULATION 34(3) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF PRABHU STEEL INDUSTRIES LTD.
|
IMPOSED PENALTY RS.3,00,000
10-APR-2024
|
SEBI VIDE ITS NOTICE DATED 22/08/2021 DIRECTED TO PAY RS.3,16,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SAT: SAT VIDE ITS ORDER DATED 13/08/2024 GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER
SEBI VIDE ITS ORDER DATED 12/09/2024 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO7941 OF 2024 DATED 22/08/2024
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| 232 |
|
|
HARISH JOSHI
(PAN:ADYPJ1327J)
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DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT. 1992 AND REGULATIONS 3(B) TO 3(C), 4(1), 4(2)(F) AND (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING REGULATIONS 4(1)(C), (E) & (G), 4(2)(F)(I)(2), 4(2)(F)(II)(6), 7, 4(2)(F)(III)(1), (3), (6) AND (12) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT PROVIDE INFORMATION/DOCUMENTS SOUGHT VIDE SUMMON IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING SECTION 21 OF SCRA, 1956 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
|
IMPOSED PENALTY RS.8,00,000
15-JUN-2022
|
SAT: SAT VIDE ITS ORDER DATED 04/01/2023 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 15/06/2022
|
| 233 |
|
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HARISH JOSHI
(PAN:ADYPJ1327J)
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INDIAN INFOTECH & SOFTWARE LTD.
CIN:L70100MH1982PLC027198
PAN:AAACI0350E
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DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING REGULATIONS 4(1)(C), (E) & (G), 4(2)(F)(I)(2), 4(2)(F)(II)(6), 7, 4(2)(F)(III)(1), (3), (6) AND (12) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING REGULATIONS 4(1), 4(2)(F) AND (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT PRESENT TRUE AND FAIR FINANCIAL STATEMENTS AND EXECUTED TRANSACTIONS WHICH WERE NON-GENUINE IN NATURE AND MISUSE OF ACCOUNT/FUNDS VIOLATING SECTION 21 OF SCRA, 1956 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
DID NOT COOPEARATE WITH FORENSIC AUDITOR APPOINTED BY BSE AND DID NOT PROVIDE ANY EVIDENCE TO SUBSTANTIATE FINANCIAL TRANSACTIONS AND STATEMENTS OF COMPANY VIOLATED SECTION 24 (2) READ WITH 27 OF SEBI ACT, 1992 IN MATTER OF INDIAN INFOTECH & SOFTWARE LTD.
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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 12-NOV-2020 TO 11-MAY-2021
DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS
12-NOV-2020
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| 234 |
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HARISH KIRITBHAI SHETH
(PAN:AAJPS0670D)
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SETCO AUTO SYSTEMS PVT.LTD.
PAN:AADCT6512A
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SETCO AUTOMOTIVE LTD.
PAN:AAACG7777K
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INDULGED IN DIVERSION OF FUNDS/ASSETS TO PROMOTER ENTITIES THROUGH A SCHEME OF MARKETING/ LIAISONING SERVICE COMMISSION VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SETCO AUTOMOTIVE LTD.
MISREPRESENTED FINANCIAL STATEMENTS VIOLATING 4(2)(F)(I)(2), 4(2)(F)(II)(2), 4(2)(F)(II)(6), 4(2)(F)(II)(7), 4(2)(F)(III)(1), 4(2)(F)(III)(3), 4(2)(F)(III)(5), 4(2)(F)(III)(6), 4(2)(F)(III)(7), 17(8) AND REGULATIONS 4(1), 4(2)(E), 33(1)(A), 33(1)(C), 34(3) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH SECTION 27 OF SEBI ACT, 1992 IN MATTER OF SETCO AUTOMOTIVE LTD.
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DIRECTED TO ACT IN BONA FIDE MANNER WITHOUT HARMING INTERESTS OF INVESTORS
DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTOMOTIVE LTD. RS.81.96 CRORE INVESTED IN SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 12% P.A. FROM DATE OF INVESTMENT
DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.107.76 CRORE RECEIVED AS MARKETING COMMISSION BY SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF PAYMENT OF COMMISSION
DIRECTED TO PAY JOINTLY AND SEVERALLY TO SETCO AUTO SYSTEMS PVT.LTD. RS.13.07 CRORE INVESTED IN NCCRPS OF SETCO ENGINEERING PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT
DIRECTED TO PAY JOINTLY AND SEVERALLY PAY TO SETCO AUTO SYSTEMS PVT.LTD. RS.5.98 CRORE INVESTED IN NCCRPS OF TRANSSTADIA TECHNOLOGIES PVT.LTD. ALONG WITH INTEREST@ 23% P.A. FROM DATE OF INVESTMENT
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 05-FEB-2026 TO 04-FEB-2028
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 05-FEB-2026 TO 04-FEB-2028
IMPOSED PENALTY RS.11,00,000
05-FEB-2026
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SAT: SAT VIDE ITS ORDER DATED 08/05/2026 I) ALLOWED INTERIM PRAYER AND STAYED IMPUGNED ORDER DATED 05/02/2026 SUBJECT TO DEPOSIT OF FULL PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER II) DIRECTED APPELLANT TO FILE UNDERTAKING BY WAY OF AFFIDAVIT AND APPELLANTS TO FILE LIST OF IMMOVABLE ASSETS WITH SEBI WITHIN FOUR WEEKS
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| 235 |
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HARPAL SINGH
(PAN:ABEPS1662H)
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INDULGED IN DIVERSION OF FUNDS OF RS.2,473.66 CRORE (APPROX) OF RELIGARE FINVEST LTD. THROUGH SUBSIDIARY OF REL FOR BENEFIT OF PROMOTERS/PROMOTER GROUP ENTITIES VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF RELIGARE ENTERPRISES LTD.
DID NOT ABIDE BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING CLAUSES 49(I)(D)(1)(B), 49(I)(D)(2)(F), 49(I)(D)(3)(C),(F),(G),(I),(L) AND 49(II)(E)(2) OF LISTING AGREEMENT (POST CIRCULAR DATED 17/04/2014) READ WITH REGULATION 103 OF SEBI (LODR) REGULATIONS, 2015 AND REGULATIONS 4(2)(F)(I)(2), 4(2)(F)(II)(6), 4(2)(F)(III)(1)(3), (6), (7), (9), (12) AND 26(3) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF RELIGARE ENTERPRISES LTD.
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IMPOSED PENALTY RS.36,00,000
31-OCT-2022
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SEBI VIDE ITS NOTICE DATED 11/07/2023 DIRECTED TO PAY RS.39,61,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 04/08/2023 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 24/08/2023 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 27/06/2022
SEBI VIDE ITS ORDER DATED 24/08/2023 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.6830 OF 2023 DATED 11/07/2023
SAT: SAT VIDE ITS ORDER DATED 29/08/2023 CONDONED DELAY IN FILING OF APPEAL. DISMISSED STAY APPLICATION AS INFRUCTUOUS
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| 236 |
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HARPAL SINGH
(PAN:ABEPS1662H)
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DID NOT ABIDE BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING CLAUSES 49(I)(D), 49(I)(D)(1)(B), 49(I)(D)(2)(F), 49(I)(D)(3)(C),(F),(G),(I),(L), 49(II)(D)(1),(4),(5), 49(II)(E)(1)(2), 49((III)(D)(1),(4),(5), (9), 49(III)(E)(1)(2), 49(V)(B) OF LISTING AGREEMENT {POST AMENDMENT DATED 17/04/2014} READ WITH REGULATION 103 OF THE SEBI (LODR) REGULATIONS, 2015 AND REGULATIONS 4(2)(F)(I)(2), 4(2)(F)(II)(6), 4(2)(F)(III)(1)(3), (6), (7), (9), (12) AND 26(3) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF FORTIS HEALTHCARE LTD.
DID NOT ABIDE BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING REGULATION 18(3) READ WITH CLAUSES A(1), A(4), A(5), A(9), B(1) AND B(2) UNDER PART C OF SCHEDULE II AND REGULATION 24(2) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF FORTIS HEALTHCARE LTD.
DID NOT ABIDE BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING SECTION 21 OF THE SCRA, 1956 IN MATTER OF FORTIS HEALTHCARE LTD.
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IMPOSED PENALTY RS.25,00,000
18-MAY-2022
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SAT: SAT VIDE ITS ORDER DATED 25/08/2022 CONDONED THE DELAY IN FILING OF APPEAL AND REPLY BE FILE WITHIN THREE WEEKS
SAT: SAT VIDE ITS ORDER DATED 29/09/2022 ALLOWED RESPONDENT FURTHER THREE WEEKS TO FILE REPLY AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 17/11/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 05/01/2023 ADJOURNED THE APPEAL AND REJOINDER IF ANY, TO BE FILED WITHIN THREE WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 12/04/2023 ALLOWED FURTHER THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 24/07/2023 CONDONED THE DELAY IN FILING OF APPEAL AND DIRECTED REJOINDER TO BE FILED WITHIN A WEEK
SAT: SAT VIDE ITS ORDER DATED 27/08/2024 DIRECTED TO DEPOSIT 50% OF PENALTY AMOUNT WHICH COMES TO RS.12.50 LAC TO SEBI WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
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| 237 |
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HARSHA RAMDAS BHATKAL
(PAN:AACPB3100C)
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TALWALKARS HEALTHCLUBS LTD.
CIN:U93090MH2016PLC280127
PAN:AAFCT7279N
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DISCLOSED INFLATED BANK BALANCE IN FINANCIAL STATEMENTS
PROFITS INFLATED BY MIS-UTILISATION OF CAPITAL WORK IN PROGRESS ACCOUNT
INAPPROPRIATE RECOGNITION OF REVENUE AND EXPENSES
INAPPROPRIATE REVALUATION OF INVESTMENTS FOR INFLATION OF REVENUE
UNJUSTIFIED INVESTMENTS IN ENTITIES WITH LOW NET WORTH AND NON-PROVISION
OF IMPAIRMENT LOSSES
MISREPRESENTED FINANCIAL STATEMENTS VIOLATING REGULATIONS 4(1)(A) TO4 (1)(C), (E), (G) & (H), 4(2)(F)(II)(6), (7) & (8), 4(2)(F)(III)(3), (6) AND (12) OF SEBI (LODR) REGULATION, 2015 IN MATTER OF TALWALKARS HEALTHCARE LTD.
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DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-SEP-2023 TO 14-MAR-2025
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-SEP-2023 TO 14-MAR-2025
RESTRAINED FROM ASSOCIATED WITH ANY OTHER LISTED COMPANY OR SEBI REGISTERED INTERMEDIARY IN ANY CAPACITY INCLUDING DIRECTOR OR KEY MANAGERIAL PERSON DIRECTLY OR INDIRECTLY FROM 15-SEP-2023 TO 14-MAR-2025
IMPOSED PENALTY RS.12,00,000
15-SEP-2023
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SEBI VIDE ITS NOTICE DATED 04/03/2024 DIRECTED TO PAY RS.12,85,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 15/03/2024 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7723 OF 2024 DATED 04/03/2024
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| 238 |
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HARSHA RAMDAS BHATKAL
(PAN:AACPB3100C)
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TALWALKARS BETTER VALUE FITNESS LTD.
CIN:L92411MH2003PLC140134
PAN:AABCT8207A
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DISCLOSED INFLATED BANK BALANCE IN FINANCIAL STATEMENTS
PROFITS INFLATED BY MIS-UTILISATION OF CAPITAL WORK IN PROGRESS ACCOUNT
ASSETS, LIABILITIES AND REVENUE INFLATED THROUGH ROUND-TRIPPING OF FUNDS AND RECOGNITION OF FICTITIOUS ASSETS, LIABILITY AND REVENUE
DID NOT MAKE DISCLOSURE OF CORPORATE GUARANTEE GIVEN TO ZORBA RENAISSANCEPVT.LTD.AS CONTINGENT LIABILITY
REVENUE INFLATED BY REVALUATION OF INVESTMENTS
INAPPROPRIATE RECOGNITION OF REVENUE AND EXPENSES
INVESTMENTS INFLATED THROUGH BOOK ENTRIES NOT BACKED BY MONEY
TRANSFERS AND INVESTMENTS IN ENTITIES WITH LOW NET WORTH
ADVANCES GIVEN TO CONNECTED COMPANIES WITHOUT RATIONALE
MISREPRESENTED FINANCIAL STATEMENTS VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), (E), (G) & (H), 4(2)(F)(II)(6), (7) & (8), 4(2)(F)(III)(3), (6) AND (12) OF SEBI (LODR) REGULATION, 2015 IN MATTER OF TALWALKARS BETTER VALUE FITNESS LTD.
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DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-SEP-2023 TO 14-MAR-2025
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-SEP-2023 TO 14-MAR-2025
RESTRAINED FROM ASSOCIATED WITH ANY OTHER LISTED COMPANY OR SEBI REGISTERED INTERMEDIARY IN ANY CAPACITY INCLUDING DIRECTOR OR KEY MANAGERIAL PERSON DIRECTLY OR INDIRECTLY FROM 15-SEP-2023 TO 14-MAR-2025
IMPOSED PENALTY RS.24,00,000
15-SEP-2023
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SEBI VIDE ITS NOTICE DATED 21/02/2024 DIRECTED TO PAY RS.25,45,000.00 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
SEBI VIDE ITS NOTICE DATED 15/03/2024 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 11/03/2024
SEBI VIDE ITS ORDER DATED 15/03/2024 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7681 OF 2024 DATED 21/02/2024
SAT: SAT VIDE ITS ORDER DATED 07/03/2024 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED RESPONDENT TO FILE REPLY AND REJOINDER THREE WEEKS THEREAFTER. STAYED EFFECT AND OPERATION OF IMPUGNED ORDER, AS FAR AS DEPOSIT OF PENALTY IS CONCERNED, SUBJECT TO PAYMENT OF 25% PENALTY WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 30/07/2024 GRANTED APPELLANT FOUR WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 29/01/2025 GRANTED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 06/05/2025 CONDONED THE DELAY IN FILING OF REPLY
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| 239 |
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HARSHAWARDHAN HANMANT SABALE
(PAN:BMMPS9407G)
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VARANIUM CLOUD LTD.
PAN:AAZCS6264J
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MISREPRESENTED FINANCIAL STATEMENTS IN PROSPECTUS AND SHOWED FICTITIOUS SALES AND PURCHASES VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D) AND 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF VARANIUM CLOUD LTD.
MIS-UTILIZED IPO AND RIGHTS ISSUE PROCEEDS AND DIVERTED FUNDS TO PROMOTER GROUP ENTITIES VIOLATING REGULATIONS 3(A) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF VARANIUM CLOUD LTD.
PROVIDED MISLEADING INFORMATION TO INVESTORS AND STOCK EXCHANGES REGARDING BUSINESS ACQUISITIONS VIOLATING REGULATIONS 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF VARANIUM CLOUD LTD.
MISREPRESENTED FINANCIAL STATEMENTS IN PROSPECTUS AND SHOWED FICTITIOUS SALES AND PURCHASES VIOLATING REGULATION 24(1) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF VARANIUM CLOUD LTD.
DISCLOSED MISLEADING QUOTATION UNDER OBJECTS OF THE ISSUE AND DID NOT MAKE DISCLOSURE OF LITIGATION IN THE PROSPECTUS AND LETTER OF OFFER VIOLATING REGULATION 24(1) OF SEBI (ICDR) REGULATIONS, 2018 IN MATTER OF VARANIUM CLOUD LTD.
MISREPRESENTED FINANCIAL STATEMENTS IN PROSPECTUS AND SHOWED FICTITIOUS SALES AND PURCHASES VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), 4(1)(E),4(1)(G) AND 4(1)(J) AND 33(1)(A), 33(1)(C) AND 48 OF SEBI (LODR) REGULATIONS, 2015 READ WITH IND AS-1 IN MATTER OF VARANIUM CLOUD LTD.
FILED INCORRECT STATEMENT OF DEVIATION PERTAINING TO UTILIZATION OF IPO PROCEEDS VIOLATING REGULATIONS 32(1), (4) AND (5) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF VARANIUM CLOUD LTD.
PROVIDED MISLEADING INFORMATION TO INVESTORS AND STOCK EXCHANGES REGARDING BUSINESS ACQUISITIONS VIOLATING REGULATIONS 4(1)(C) AND 4(1)(E) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF VARANIUM CLOUD LTD.
DID NOT MAKE DISCLOSURE FACT OF DISPOSAL OF SHARES OF COMPANY BY PROMOTERS VIOLATING REGULATIONS 29(2) AND 29(3) OF SAST REGULATIONS, 2011 IN MATTER OF VARANIUM CLOUD LTD.
DID NOT ADHERE TO SUMMONS ISSUED BY SEBI
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DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 25-AUG-2026 TO 24-AUG-2033
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 25-AUG-2026 TO 24-AUG-2033
RESTRAINED FROM ACTING AS DIRECTOR/KEY MANAGERIAL PERSONNEL OF ANY LISTED COMPANY OR SUBSIDIARY OR ANY COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY SEBI REGISTERED INTERMEDIARY FROM 25-AUG-2026 TO 24-AUG-2033
10-MAY-2024
DIRECTED TO DISGORGE RS.1,28,77,11,275
DIRECTED TO REMIT DISGORGED AMOUNT TO INVESTOR PROTECTION & EDUCATION FUND (IPEF)
IMPOSED PENALTY RS.20,40,00,000
25-AUG-2026
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SEBI VIDE ITS ORDER DATED 21/10/2024 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 10/05/2024
SEBI VIDE ITS ORDER DATED 25/08/2026 DIRECTED TO A) DEBARRED FROM ACCESSING SECURITIES MARKET AND PROHIBITED FROM BUYING, SELLING AND OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR SEVEN YEARS FROM DATE OF THIS ORDER B) RESTRAINED FROM BEING ASSOCIATED WITH ANY LISTED COMPANY OR A SEBI REGISTERED INTERMEDIARY AS A DIRECTOR OR A KEY MANAGERIAL PERSON, DIRECTLY OR INDIRECTLY FOR SEVEN YEARS FROM DATE OF THIS ORDER C) DISGORGE UNLAWFUL GAINS OF RS.1,28,77,11,275.00 ALONG WITH SIMPLE INTEREST @12% P.A.FROM DATE OF SELLING OF RESPECTIVE SHARES TILL THE ACTUAL DATE OF DEPOSIT AND AMOUNT TO BE REMITTED TO INVESTOR PROTECTION AND EDUCATION FUND (IPEF) WITHIN FORTY FIVE DAYS FROM DATE OF RECEIPT OF THIS ORDER C) IMPOSED PENALTY OF RS.10 LAC U/S 15A(A), RS.10 LAC U/S 15A(B), RS.20 CRORE U/S 15HA AND RS.20 LAC U/S 15HB OF SEBI ACT.
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| 240 |
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HARSHWARDHAN KOSHAL
(PAN:AAVPK1615L)
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SVAM SOFTWARE LTD.
CIN:L72200DL1992PLC047327
PAN:AAACS0292B
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INDULGED IN MISREPRESENTATION OF FINANCIALS AND/OR BUSINESS AND MISUSE OF FUNDS/BOOKS OF ACCOUNTS OF SVAM VIOLATING SECTIONS 12A (A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1) AND 4(2)(F) & (R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SVAM SOFTWARE LTD.
INDULGED IN MISREPRESENTATION OF FINANCIALS AND/OR BUSINESS AND MISUSE OF FUNDS/BOOKS OF ACCOUNTS OF SVAM VIOLATING REGULATIONS 4(2)(F)(II)(6), (7), 4(2)(F)(III)(1) (3), (6) AND (12) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SVAM SOFTWARE LTD.
ISSUED UNTRUE CERTIFICATES WITH RESPECT TO FINANCIAL STATEMENTS VIOLATING REGULATION 17(8) READ WITH PART B OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SVAM SOFTWARE LTD.
DID NOT ADHERE TO REGULATIONS 33(2)(A) FOR CERTIFICATION AND APPROVAL OF FINANCIAL RESULTS IN MATTER OF SVAM SOFTWARE LTD.
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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 07-OCT-2021 TO 06-OCT-2022
IMPOSED PENALTY RS.4,00,000
07-OCT-2021
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SAT: SAT VIDE ITS ORDER DATED 11/01/2022 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. IN THE MEANWHILE, DEBARMENT OF THE APPELLANTS TO REMAIN STAYED PROVIDED THEY DEPOSIT FIFTY PERCENT OF THE PENALTY AMOUNT WITHIN THREE WEEKS FROM TODAY
SAT: SAT VIDE ITS ORDER DATED 13/10/2022 PARTLY ALLOWED THE APPEAL BY REDUCING DEBARMENT PERIOD FROM ONE YEAR TO PERIOD UNDERGONE
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| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
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