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.

PERSONS: VIOLATED SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

241

B.RAMALINGA RAJU

(PAN:ACVPB8311J)

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SATYAM COMPUTER SERVICES LTD.

MISLED INVESTORS THROUGH ISSUANCE OF BONUS SHARES AND AMERICAN DEPOSITORY SHARES (ADS) AND BY GIVING MISLEADING ANNOUNCEMENTS OF BUY BACK OF SHARES IN MATTER OF SATYAM COMPUTER SERVICES LTD.

SOLD AND PLEDGED SHARES WHILE IN POSSESSION OF UNPUBLISHED PRICE SENSITIVE INFORMATION VIOLATING REGULATIONS 3 AND 4 OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 AND SECTION 12A (D) & (E) OF SEBI ACT, 1992 IN MATTER OF SATYAM COMPUTER SERVICES LTD.

DID NOT ADHERE TO PRINCIPLES OF CORPORATE GOVERNANCE IN GENERAL AND OBLIGATION OF CEO/CFO CERTIFICATION STIPULATED IN CLAUSE 49 OF THE LISTING AGREEMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-JUL-2014 TO 14-JUL-2028

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-JUL-2014 TO 14-JUL-2028

DIRECTED TO DISGORGE UNLAWFUL GAINS ALONGWITH INTEREST @12% PER ANNUM FROM JANUARY 07, 2009 TILL THE DATE OF PAYMENT

15-JUL-2014

SAT: SAT VIDE ITS ORDER DATED 12/05/2017 SET ASIDED IMPUGNED ORDER DATED 15/07/2014 TO THE EXTENT IT RELATED TO THE PERIOD FOR WHICH THE APPELALANTS WERE RESTRAINED FROM ACCESSING THE SECURITIES MARKET AND THE ILLEGAL GAIN DIRECTED TO BE DISGORGED BY THE APPLLANTS AND REMANDED THE MATTER TO FILE OF WTM OF SEBI TO PASS FRESH ORDER ON MERITS AND IN ACCORDANCE WITH LAW. FURTHER, DIRECTED THAT THE APPELLANTS SHALL NOT ACCESS THE SECURITIES MARKET AND SHALL NOT BUY, SELL OR OTHERWISE DEAL IN SECURITIES, DIRECTLY OR INDIRECTLY TILL FRESH ORDER IS PASSED BY WTM OF SEBI ON MERITS AND IN ACCORDANCE WITH LAW. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 21/08/2017 TIME TO PASS THE ORDER BY SEBI IS EXTENDED BY FOUR MONTHS FROM 11/08/2017. MISC.APPLICATION DISPOSED OFF ACCORDINGLY

242

B.SURYANARAYANA RAJU

(PAN:ACEPB2811N)

SATYAM COMPUTER SERVICES LTD.

SOLD AND PLEDGED SHARES WHILE IN POSSESSION OF UNPUBLISHED PRICE SENSITIVE INFORMATION VIOLATING REGULATIONS 3 AND 4 OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 AND SECTION 12A (D) & (E) OF SEBI ACT, 1992 IN MATTER OF SATYAM COMPUTER SERVICES LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 10-SEP-2015 TO 09-SEP-2029

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 10-SEP-2015 TO 09-SEP-2029

RESTRAINED FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC FROM 10-SEP-2015 TO 09-SEP-2029

10-SEP-2015

DIRECTED TO DISGORGE RS.81,84,35,650

02-NOV-2018

SAT: SAT VIDE ITS ORDER DATED 11/08/2017 DISMISSED THE APPEAL. NO COSTS

SEBI VIDE ITS ORDER DATED 02/11/2018 DIRECTED TO 1) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER, WHATSOEVER FOR FOURTEEN (14) YEARS, TO BE CALCULATED SINCE 10/09/2015 AND TO 2) DISGORGE RS.81,84,35,650.00 WITH SIMPLE INTEREST @ 12% P.A. FROM 07/01/2009 TILL DATE OF PAYMENT WITHIN 45 DAYS FROM DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 20/04/2021 LISTED THE APPEALS FOR FINAL HEARING ON 19/05/2021. IN THE MEANWHILE, PARTIES TO FILE THE LIST OF DATES, WRITTEN SUBMISSIONS AND THE CASE LAWS

SAT: SAT VIDE ITS ORDER DATED 19/05/2021 ALLOWED APPELLANTS TO FILE WRITTEN SUBMISSION WITHIN FOUR WEEKS FROM DATE OF THIS ORDER AND GRANTED RESPONDENT ANOTHER THREE WEEKS TO FILE WRITTEN SUBMISSION THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 02/02/2023 ALLOWED THE APPEALS AND SET ASIDE IMPUGNED ORDERS DATED 16/10/2018 AND 02/11/2018. MATTER REMITTED TO WTM TO PASS A FRESH ORDER WITHIN FOUR MONTHS

SAT: SAT VIDE ITS ORDER DATED 13/06/2023 DISPOSE OF THE MATTER AND DIRECTED WTM TO DECIDE THE MATTER AS PER DIRECTIONS GIVEN IN PARAGRAPH 120 OF ORDER DATED 02/02/2023 ON OR BEFORE 30/11/2023

SEBI VIDE ITS NOTICE DATED 14/11/2025 DIRECTED TO PAY RS.1,55,87,57,321.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

243

B.TEJA RAJU

(PAN:AFSPB9531Q)

(Along with : B.APPALANARASAMMA,

B.JHANSI RANI,

B.RAMA RAJU JR.,

B.RAMALINGA RAJU,

B.RAMA RAJU)

CHINTALAPATI HOLDINGS PVT.LTD.

PAN:AABCC5085D

IL&FS ENGINEERING & CONSTRUCTION CO.LTD.

DIRECTED TO DISGORGE RS.2,53,48,54,421 ALONG WITH OTHER ENTITIES/PERSONS

10-SEP-2015

SAT: SAT VIDE ITS ORDER DATED 11/08/2017 DISMISSED THE APPEAL. NO COSTS

244

B.V.APPA RAO

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AS REQUIRED UNDER REGULATION 13(1) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF ACQUISITION OF SHARES OF EXELON INFRASTRUCTURE LTD.

DID NOT MAKE PUBLIC ANNOUNCEMENT AS REQUIRED UNDER REGULATION 10 OF SEBI TAKEOVER CODE, 1997 IN MATTER OF ACQUISITION OF SHARES OF EXELON INFRASTRUCTURE LTD.

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AND STOCK EXCHANGES AS REQUIRED UNDER REGULATION 7(1) OF SEBI TAKEOVER CODE, 1997 IN MATTER OF EXELON INFRASTRUCTURE LTD.

IMPOSED PENALTY RS.75,000

21-SEP-2010

INCLUDED IN SEBI LIST DATED 31/12/2010, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

245

B.V.RAMA RAO

ALLEGED FAILURE IN COMPLIANCE OF REGULATION 12(3) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF KNR CONSTRUCTIONS LTD.

ALLEGED FAILURE IN COMPLIANCE OF REGULATION 12(1) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 AND VIOLATED CLAUSES 1.2, 3.2 AND 3.3 OF MODEL CODE OF CONDUCT IN MATTER OF KNR CONSTRUCTIONS LTD.

ALLEGED FAILURE IN COMPLIANCE OF REGULATION 12(2) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 AND VIOLATED CLAUSE 2.1 OF SCHEDULE II (CODE OF CORPORATE DISCLOSURE PRACTICES) IN MATTER OF KNR CONSTRUCTIONS LTD.

ALLEGED VIOLATION OF CLAUSE 3.3-3 AND CLAUSE 4.2 OF MODEL CODE OF CONDUCT FOR PREVENTION OF INSIDER TRADING FOR LISTED COMPANIES AS PRESCRIBED IN SCHEDULE I OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF KNR CONSTRUCTIONS LTD.

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)

27-SEP-2012

246

BABU PARSU BASAN

SOUNDCRAFT INDUSTRIES LTD.

PAN:AABCS3556M

ISSUED MISLEADING ANNOUNCEMENT OF BONUS ISSUE OF SHARES AND OFF-LOADED HOLDINGS IN SCRIP OF SOUNDCRAFT INDUSTRIES LTD

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO STOCK EXCHANGES AND COMPANY AS REQUIRED UNDER REGULATION 7(1A) OF SEBI TAKEOVER CODE, 1997 IN MATTER OF SOUNDCRAFT INDUSTRIES LTD.

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AS REQUIRED UNDER REGULATION 13(4) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF SOUNDCRAFT INDUSTRIES LTD

ISSUED MISLEADING ANNOUNCEMENT OF BONUS ISSUE OF SHARES AND OFF-LOADED HOLDINGS VIOLATING CLAUSE 15.1.6 OF SEBI (DISCLOSURE AND INVESTOR PROTECTION) DIRECTIVES/INSTRUCTIONS/GUIDELINES, 2000 IN MATTER OF SOUNDCRAFT INDUSTRIES LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-OCT-2009 TO 15-OCT-2010

16-OCT-2009

247

BABUBHAI AMRUTLAL PATEL

ALLEGED INDULGENCE IN IRREGULAR TRANSACTIONS IN SCRIP OF PROMACT PLASTICS LTD.

ALLEGED INDULGENCE IN IRREGULAR TRANSACTIONS VIOLATING REGULATION 12(1) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 AND VIOLATED CLAUSE 3.2-3 OF PART A OF MODEL CODE OF CONDUCT IN MATTER OF PROMACT PLASTICS LTD.

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,00,000 VIDE CONSENT ORDER)

REACHED SETTLEMENT (CONSENT ORDER) (AGREED VOLUNTARILY NOT TO BUY/SELL/ DEAL IN SECURITIES/ SPECIFIED SCRIPS DIRECTLY/INDIRECTLY) FROM 23-NOV-2010 TO 22-NOV-2015

REACHED SETTLEMENT (CONSENT ORDER) (AGREED VOLUNTARILY NOT TO HOLD DIRECTORSHIP IN ANY LISTED COMPANY) FROM 23-NOV-2010 TO 22-NOV-2015

23-NOV-2010

248

BABULAL BHANSALI

(PAN:ABMPB6776F)

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO BOMBAY STOCK EXCHANGES AS REQUIRED UNDER SEBI TAKEOVER CODE, 1997 IN MATTER OF ALKA SECURITES LTD.

DID NOT MAKE DISCLOSURE OF DILUTION OF SHAREHOLDING AS REQUIRED UNDER SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF ALKA SECURITES LTD.

INDULGED IN CREATION OF ARTIFICIAL MARKET THROUGH OFF-MARKET TRANSACTIONS IN SCRIP OF ALKA SECURITIES LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 28-JUL-2009 TILL FURTHERS ORDERS

DIRECTED NSDL AND CDSL TO FREEZE BENEFICIAL OWNER ACCOUNTS OF PERSONS/ENTITIES

28-JUL-2009

EX-PARTE INTERIM ORDER DATED 28/07/2009 CONFIRMED

SEBI VIDE ITS ORDER DATED 10/09/2012 REVOKED DIRECTIONS ISSUED VIDE ITS AD INTERIM EX-PARTE ORDER DATED 28/07/2009 AND CONFIRMATORY ORDER DATED 30/10/2009 WITH IMMEDIATE EFFECT

249

BABULAL JAIN

(PAN:ABUPJ5018N)

(Along with : JAYESH VINODRAI VALIA,

AJAY NAUTAMLAL JANI)

VAS INFRASTRUCTURE LTD.

PAN:AAACV3537A

DELAY IN INTIMATING AND PUBLISHING UNAUDITED FINANCIAL RESULTS VIOLATING CLAUSES 1.1 READ WITH 2.1 OF CODE OF CORPORATE DISCLOSURE AND REGULATION 12(1) READ WITH PART A OF SCHEDULE I OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF VAS INFRASTRUCTURE LTD.

IMPOSED PENALTY RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS

09-JAN-2018

250

BABULAL MISHRIMAL SANGHVI

(PAN:ADRPS3261K)

251

BACHUBHAI BHURALAL PATEL

(PAN:AKAPP1879N)

252

BAKUL RAMNIKLAL PAREKH

(PAN:AACPP5587D)

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AND STOCK EXCHANGES AS REQUIRED UNDER REGULATION 13(4) READ WITH 13(5) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF ACTION FINANCIAL SERVICES (INDIA) LTD.

IMPOSED PENALTY RS.10,00,000

15-MAY-2019

253

BAKUL RAMNIKLAL PAREKH

(PAN:AACPP5587D)

DID NOT CLOSE TRADING WINDOW AS REQUIRED UNDER CLAUSE 3.2-5 OF MODEL CODE OF CONDUCT AS PRESCRIBED UNDER REGULATION 12(1) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF ACTION FINANCIAL SERVICES (INDIA) LTD.

IMPOSED PENALTY RS.25,000

31-MAY-2011

254

BAL KISHAN GUPTA

(PAN:AADPG2123K)

ALLEGED DELAY IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AND/OR STOCK EXCHANGES AS REQUIRED UNDER REGULATION 7(1A) OF SEBI TAKEOVER CODE, 1997

ALLEGED DELAY IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AND/OR STOCK EXCHANGES AS REQUIRED UNDER REGULATIONS 3(1) AND 29(2) OF SAST REGULATIONS, 2011

ALLEGED DELAY IN MAKING DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AND/OR STOCK EXCHANGES AS REQUIRED UNDER REGULATION 13(3) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.40,14,844 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

26-NOV-2018

255

BALA KAUL

(PAN:AAAPR5532H)

TRADED WHILE IN POSSESSION OF UNPUBLISHED PRICE SENSITIVE INFORMATION IN MATTER OF ORCHID CHEMICALS & PHARMACEUTICALS LTD.

IMPOSED PENALTY RS.10,00,000

04-JAN-2012

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

INCLUDED IN SEBI LIST DATED 31/03/2014, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

SEBI VIDE ITS NOTICE DATED 25/06/2014 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS 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 17/07/2014 DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK ACCOUNTS/LOCKERS AND DEMAT ACCOUNTS OF THE DEFAULTERS WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 25/06/2014

256

BALBIR SINGH UPPAL

ALLEGED INDULGENCE IN COMMUNICATING COUNSEL OR PROCURE DIRECTLY OR INDIRECTLY ANY UNPUBLISHED PRICE SENSITIVE INFORMATION AS REQUIRED UNDER REGULATION 3(II) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN SCRIP OF LAKSHMI ENERGY & FOODS LTD.

REACHED SETTLEMENT (SETTLEMENT CHARGES RS.13,32,000, ADMINISTRATION CHARGES RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

17-APR-2009

257

BALKISHAN AGRAWAL

(PAN:AAEHB9070P)