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 : 02-MAR-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: DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

261

SHIMONI S.SHAH

(PAN:BCNPS3115A)

INDULGED IN FRONT RUNNING TRADING ACTIVITIES OF DEALERS OF RELIANCE SECURITIES LTD. AND OTHER CONNECTED ENTITIES VIOLATING REGULATIONS 3(A) TO (D) AND 4(1) & 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003

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-AUG-2020 UNTIL FURTHER ORDERS

DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 07-AUG-2020 UNTIL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH A NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 07-AUG-2020 UNTIL FURTHER ORDERS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

07-AUG-2020

SAT: SAT VIDE ITS ORDER DATED 10/12/2020 DISPOSED OFF THE APPEAL AND DIRECTED APPELLANT TO FILE THEIR REPLY/OBJECTION ON OR BEFORE 15/12/2020

SEBI VIDE ITS ORDER DATED 30/12/2020 REVOKED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 07/08/2020

SAT: SAT VIDE ITS ORDER DATED 07/06/2023 CONDONED THE DELAY IN FILING OF APPEAL. IN THE MEANWHILE, RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED IMPUGNED ORDER AND DIRECTED APPELLANT TO DEPOSIT BALANCE DISGORGEMENT AMOUNT AND PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

262

SHINAL JAIN

(PAN:JANPS2088N)

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MONEY INCREASE

PAN:APAPC1516N

VENTURE REVENUE

PAN:APAPC1516N

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 02/12/2022 DIRECTED TO A) DEBARRED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR TWO YEARS FROM DATE OF THIS ORDER B) REVOKED ANY OTHER DIRECTION VIDE ITS INTERIM ORDER DATED 31/07/2020

263

SHRAWAN

(PAN:KVSPS2783B)

AIDED AND ABETTED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SUPERIOR FINLEASE LTD.

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SUPERIOR FINLEASE LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 22-MAY-2024 TO 21-MAY-2029

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED DEPOSITORIES THAT NO DEBIT TO BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 22-MAY-2024 TO 21-MAY-2029

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 22-MAY-2024 TO 21-MAY-2029

25-JAN-2023

SEBI VIDE ITS ORDER DATED 22/05/2024 DIRECTED TO A) 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 FIVE YEARS FROM DATE OF THIS ORDER

264

SHREYA GUPTA

(PAN:AIMPJ4419J)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 02-MAR-2023 UNTIL FURTHER ORDERS

DIRECTED TO OPEN INTEREST BEARING ESCROW ACCOUNT WITH A SCHEDULED COMMERCIAL BANK AND DEPOSIT THE IMPOUNDED AMOUNT THEREIN IN THE MATTER OF TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 02-MAR-2023 UNTIL FURTHER ORDERS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT NOT TRANSFERRED SECURITIES HELD JOINTLY OR SEVERALLY

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.2,18,18,920

02-MAR-2023

SAT: SAT VIDE ITS ORDER DATED 17/03/2023 ALLOWED THE APPLICATION FOR EXEMPTION OF CERTIFIED COPY

SEBI VIDE ITS ORDER DATED 31/10/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 20/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SADHNA BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) FUNDS TO BE DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN INTERIM ORDER WILL REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 08/01/2024 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 12/02/2024 ALLOWED APPELLANT FURTHER TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 16/04/2024 ALLOWED APPELLANTS ADDITIONAL AND FINAL THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/08/2024 GRANTED APPELLANT TWO MONTHS TO SETTLE THE CASE

SAT: SAT VIDE ITS ORDER DATED 31/07/2025 DIRECTED APPELLANT TO DEPOSIT TOTAL SUM OF RS.60 LAC AFTER ALLOWING CREDIT FOR THE AMOUNT WHICH IS ALREADY DEPOSITED

265

SHUBHAM SOMANI

(PAN:CMMPS0818L)

SS CORPORATE SECURITIES LTD.

PAN:AABCS3726M

TRADED WHILE IN POSSESSION OF UPSI AND COMMUNICATED UPSI TO OTHERS VIOLATING SECTION 12A(D) AND 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 3 AND 4 OF SEBI (PIT) REGULATIONS, 2015 IN MATTER OF LUX INDUSTRIES LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 24-JAN-2022 UNTIL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 24-JAN-2022 UNTIL FURTHER ORDERS

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED TO FREEZE BANK ACCOUNTS

DIRECTED BANKS NOT TO ALLOW ANY DEBITS/WITHDRAWLS WITHOUT PERMISSION OF SEBI

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED TO IMPOUND BANK ACCOUNTS

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.20,50,796 ALONG WITH OTHER ENTITIES/PERSONS

24-JAN-2022

SEBI VIDE ITS ORDER DATED 27/05/2022 DIRECTED TO A) RESTRAINED FROM BUYING, SELLING OR DEALING IN SECURITIES OF LUX INDUSTRIES LTD., EITHER DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER UNTIL FURTHER ORDERS B) RESTRAINT RELATED TO BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES IN RESPECT OF LUX INDUSTRIES LTD. NOT TO PROHIBIT THE CREDIT OF SHARES TO BE RECEIVED ON ACCOUNT OF STOCK OPTION, BONUS ETC. ISSUED BY THE COMPANY C) FUNDS DEPOSITED BY ENTITIES IN INTEREST BEARING ESCROW ACCOUNT/FDR TO REMAIN IN SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

SEBI VIDE ITS ORDER DATED 06/11/2023 A) REVOKED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 24/01/2022 WHICH WERE CONFIRMED WITH MODIFICATIONS VIDE ORDER DATED 27/05/2022 B) RELEASED AMOUNT IMPOUNDED PURSUANT TO INTERIM ORDER DATED 24/01/2022 READ WITH ORDER DATED 27/05/2022 ALONG WITH INTEREST IF ANY, ACCRUED ON THE SAID AMOUNT

266

SHUBHAM SOMANI

(PAN:CMMPS0818L)

(Along with : ANJU SOMANI)

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 24-JAN-2022 UNTIL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 24-JAN-2022 UNTIL FURTHER ORDERS

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED TO FREEZE BANK ACCOUNTS

DIRECTED BANKS NOT TO ALLOW ANY DEBITS/WITHDRAWLS WITHOUT PERMISSION OF SEBI

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED TO IMPOUND BANK ACCOUNTS

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.21,86,168 ALONG WITH OTHER ENTITIES/PERSONS

24-JAN-2022

267

SHYAM MOHINI GHAI

(PAN:AHSPG1017G)

INDULGED IN MISUTILISING POSITION AS A HOST/CO-HOST OF THE SHOW OTHER SHOW/CHANNELS/MEDIA GIVING RECOMMENDATIONS/CONTRIBUTING TO ANY ACTIVITIES RELATED TO SECURITIES MARKET VIOLATING SECTIONS 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CNBC AWAAZ �STOCK 20-20� SHOW

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 19-MAR-2025 TO 18-MAR-2030

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 19-MAR-2025 TO 18-MAR-2030

DIRECTED TO CEASE & DESIST FROM UNDERTAKING, DIRECTLY OR INDIRECTLY ANY ACTIVITY RELATED TO GIVING INVESTMENT ADVICE, SELL OR BUY RECOMMENDATIONS, PUBLISHING OF RESEARCH REPORTS ETC. RELATED TO SECURITIES MARKET FROM 19-MAR-2025 TO 18-MAR-2030

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED TO FREEZE BANK ACCOUNTS

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 19-MAR-2025 TO 18-MAR-2030

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

DIRECTED BANKS AND DEPOSITORIES NOT TO DEBIT AND/OR CREDIT, WITHOUT PERMISSION OF SEBI IN RESPECT OF BANK/DEMAT ACCOUNTS, HELD JOINTLY AND SEVERALLY

DIRECTED BANKS AND/OR DEPOSITORIES AND/OR CUSTODIANS TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS

13-JAN-2021

SEBI VIDE ITS ORDER DATED 02/09/2021 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 13/01/2021

SEBI VIDE ITS ORDER DATED 03/02/2022 DIRECTED TO A) IMPOUND RS.3,90,67,921.00 BEING UNLAWFUL GAINS ALONG WITH INTEREST, IMPOUNDED JOINTLY AND SEVERALLY B) IMPOUNDED THE AMOUNT TILL DISPOSAL OF SCN BEING ISSUED AND SUBJECT TO DIRECTIONS ISSUED IN FINAL ORDER WHILE DISPOSING OF SUCH SCN. AMOUNT TO BE KEPT IN ESCROW ACCOUNT, A LIEN TO BE MARKED IN ESCROW ACCOUNT/S IN FAVOUR OF SEBI AND MONIES KEPT THEREIN SHALL NOT BE RELEASED WITHOUT PERMISSION OF SEBI C) BANK AND DEPOSITORIES NOT TO MAKE DEBITS WITHOUT PERMISSION OF SEBI, IN RESPECT OF BANK ACCOUNTS AND DEMAT ACCOUNTS, AND ENSURE THAT ALL DIRECTIONS ARE STRICTLY ENFORCED D) REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT TILL FURTHER DIRECTION NOT TRANSFER/REDEEMED, JOINTLY OR SEVERALLY E) NOT TO DISPOSE OFF OR ALIENATE ANY OF THEIR ASSETS/PROPERTIES/ SECURITIES

SAT: SAT VIDE ITS ORDER DATED 11/03/2022 CONDONED THE DELAY IN FILING OF APPEAL. DIRECTED TO FILE REPLY IN BOTH APPEALS WITHIN A WEEK FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE. STAYED THE ORDER DATED 03/02/2022 DIRECTING APPELLANT TO DEPOSIT A FURTHER AMOUNT TOWARDS ALLEGED UNLAWFUL GAINS OF RS.3,90,67,921.00 TILL NEXT DATE OF LISTING

SAT: SAT VIDE ITS ORDER DATED 30/03/2022 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 03/02/2022 AND DIRECTED THAT WTM SHALL HEAR THE MATTER WITHIN SIX WEEKS FROM DATE OF FILING OF REPLY BY THE APPELLANT AND ORDER TO BE PASSED WITHIN TWO MONTHS THEREAFTER

SEBI VIDE ITS ORDER DATED 22/07/2022 DIRECTED SEBI TO RE-INVESTIGATE THE MATTER WITHIN SIX MONTHS FROM THE DATE OF THIS ORDER TO CONCLUDE THE MATTER EXPEDITIOUSLY

SAT: SAT VIDE ITS ORDER DATED 25/08/2022 PARTLY ALLOWED THE APPEALS AND DIRECTED A) AMOUNT OF RS.2,95,18,680.00 REMAIN IN THE ESCROW ACCOUNT DURING PENDENCY OF INVESTIGATION B) SET ASIDE INTERIM DIRECTIONS OF RESTRAINING THE APPELLANTS FROM BUYING, SELLING OR DEALING IN SECURITIES EITHER DIRECTLY OR INDIRECTLY C) ALSO SET ASIDE DIRECTIONS ISSUED AGAINST APPELLANTS TO CEASE AND DESIST, DIRECTLY OR INDIRECTLY, ANY ACTIVITY RELATED TO GIVING INVESTMENT ADVICE, SELL OR BUY RECOMMENDATIONS, PUBLISHING OF RESEARCH REPORTS ETC., RELATED TO SECURITIES MARKET D) RESTRICTIONS PLACED BY RESPONDENT ON ANY BANK ACCOUNT AND/OR DEMAT ACCOUNT OF THE APPELLANTS SHALL BE LIFTED FORTHWITH.

SEBI VIDE ITS ORDER DATED 19/03/2025 DIRECTED TO A) 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 FOR FIVE (5) YEARS FROM DATE OF THIS ORDER

268

SUBHASH AGARWAL

(PAN:AAEPA6699R)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SHARPLINE BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

SEBI VIDE ITS ORDER DATED 01/11/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 11/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SHARPLINE BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) LIABILITY FOR THE ILLEGAL GAIN MADE BY EACH NOTICEE TO THIS ORDER TO BE BORNE BY THEM INDIVIDUALLY C) REVOKED THE DIRECTIONS IN PARAGRAPH NOS.37.5, 37.6, 37.7 AND 37.8 OF INTERIM ORDER DATED 03/03/2023 D) REVOKED THE REASONS RECORDED IN PARA NO.37.7.1 E) FUNDS DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN THE INTERIM ORDER TO REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

269

SUBHASH AGARWAL

(PAN:AAEPA6699R)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

SAT: SAT VIDE ITS ORDER DATED 17/03/2023 ALLOWED THE APPLICATION FOR EXEMPTION OF CERTIFIED COPY

SEBI VIDE ITS ORDER DATED 31/10/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 20/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SADHNA BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) FUNDS TO BE DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN THE INTERIM ORDER TO REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS C) REVOKED THE DIRECTIONS IN PARAGRAPH NOS.38.5, 38.6, 38.7 AND 38.8 OF INTERIM ORDER DATED 03/03/2023 D) REVOKED THE DIRECTIONS OF IMPOUNDING ISSUED FOR ILLEGAL GAINS MADE THROUGH TRADES DIRECTLY

SAT: SAT VIDE ITS ORDER DATED 16/04/2024 ALLOWED APPELLANTS ADDITIONAL AND FINAL THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/08/2024 GRANTED APPELLANT TWO MONTHS TO SETTLE THE CASE

SAT: SAT VIDE ITS ORDER DATED 31/07/2025 DIRECTED APPELLANT TO DEPOSIT TOTAL SUM OF RS.60 LAC AFTER ALLOWING CREDIT FOR THE AMOUNT WHICH IS ALREADY DEPOSITED

270

SUKHWINDER LAL GUPTA

(PAN:AAEPG4790M)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SHARPLINE BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

271

SULABH DIKSHIT

(PAN:ANEPD9669B)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

272

SUMAN LATA

(PAN:AEOPL7774E)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SHARPLINE BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

273

SUMIT KUMAR

(PAN:CSIPK7343G
DIN:08357686)

FINGRAVY WEALTH CREATION SERVICES PVT.LTD.

PAN:AADCF2427Q
CIN:U73200MH2017PTC301697

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 29/11/2022 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM ANY INVESTORS/CLIENTS, AS FEES OR CONSIDERATION OR IN ANY OTHER FORM, IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES WITHIN THREE MONTHS FROM DATE OF THIS ORDER B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING INTO FORCE OF THIS ORDER C) REPAYMENTS TO INVESTORS/CLIENTS TO BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED. FURTHER, DIRECTED BANK TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS, WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES E) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANT F) DEBARRED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR ONE YEAR FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS/CLIENTS G) NOT TO UNDERTAKE, EITHER DURING OR AFTER THE EXPIRY OF THE PERIOD OF DEBARMENT/RESTRAINT EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING A CERTIFICATE OF REGISTRATION FROM SEBI

SAT: SAT VIDE ITS ORDER DATED 16/12/2024 GRANTED APPELLANTS TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 26/06/2025 DIRECTED APPELLANTS TO DEPOSIT OF RS.60 LAC IN FIXED DEPOSIT IN NATIONALIZED BANK WITH A LIEN MARKED IN FAVOUR OF SEBI WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. NO COSTS

274

SUNDER SOMANI

(PAN:AAWPS1022L)

275

SUNEEL KUMAR PATEL

(PAN:DFQPP5370N)

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 28/10/2021 DIRECTED TO A) CEASE AND DESIST FROM HOLDING HIMSELF OUT AS INVESTMENT ADVISER, INCLUDING ACTIVITY OF ACTING AND REPRESENTING THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) AS INVESTMENT ADVISER, DIRECTLY OR INDIRECTLY, AND CEASE TO SOLICIT OR UNDERTAKE SUCH ACTIVITY OR ANY OTHER ACTIVITIES IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MATTER WHATSOEVER B) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY AND ASSOCIATING WITH SECURITIES MARKET IN ANY MANNER, WHATSOEVER FOR FOUR YEARS C) RESTRAINED FROM HOLDING ANY POSITION OF DIRECTOR OR KEY MANAGERIAL PERSONNEL IN ANY LISTED COMPANY OR ANY INTERMEDIARY REGISTERED WITH SEBI AND ALSO BE RESTRAINED FROM ASSOCIATING HIMSELF WITH ANY LISTED PUBLIC COMPANY OR A PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FOR FOUR YEARS D) REFUND THE MONEY RECEIVED FROM THE CLIENTS/INVESTORS AS FEES OR CONSIDERATION OR IN ANY OTHER FORM IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES CARRIED OUT IN NAME OF GOODWILL RESEARCH WITHIN THREE MONTHS FROM DATE OF THIS ORDER E) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING THE DETAILS OF CONTACT PERSON SUCH AS NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING INTO FORCE OF THIS ORDER F) REPAYMENTS TO CLIENTS/INVESTORS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER G) PREVENTED FROM SELLING THE ASSETS, PROPERTIES AND MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND/OR PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED H) BANKS NOT TO ALLOW DEBITS FROM THE BANK ACCOUNTS (JOINT OR OTHERWISE) EXCEPT FOR PURPOSES OF COMPLIANCE WITH DIRECTION AND I) DEPOSITORIES NOT TO ALLLOW DEBITS FROM ACCOUNTS (JOINT OR OTHERWISE) EXCEPT FOR THE PURPOSES OF COMPLIANCE WITH THE DIRECTION

276

SUNIL GOEL

(PAN:AAAPG2658J)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

277

SURABHI KISHORE SHAH

(PAN:APQPS7611L)

TRADED WHILE IN POSSESSION OF UNPUBLISHED PRICE SENSITIVE INFORMATION VIOLATING SECTION 12A(D) AND 12A(E) OF SEBI ACT, 1992 AND REGULATION 4(1) OF SEBI (PIT) REGULATIONS, 2015 IN MATTER OF MAGMA FINCORP LTD. (NOW KNOWN AS POONAWALLA FINCORP LTD.)

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-SEP-2021 UNTIL FURTHER ORDERS

DIRECTED TO IMPOUND BANK ACCOUNTS

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 15-SEP-2021 UNTIL FURTHER ORDERS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.1,76,03,579 ALONG WITH OTHER ENTITIES/PERSONS

15-SEP-2021

SEBI VIDE ITS ORDER DATED 28/03/2022 A) DIRECTED TO RESTRAINED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES DIRECTLY OR INDIRECTLY IN ANY MANNER, WHATSOEVER UNTIL FURTHER ORDERS AND DIRECTIONS ISSUED VIDE ITS INTERIM ORDER STAND MODIFIED TO THE EXTENT OF ALLOWING CREDIT AND DEBIT OF SECURITIES IN THE ACCOUNTSB) CLARIFIED THAT RESTRAINT RELATED TO BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES IN RESPECT OF PFL (MAGMA) WOULD NOT PROHIBIT THE CREDIT OF SHARES TO RECEIVED ON ACCOUNT OF STOCK OPTION, BONUS ETC. ISSUED BY THE COMPANYC) CLARIFIED THAT THE FUNDS DEPOSITED BY ENTITIES IN INTEREST BEARING ESCROW ACCOUNT WILL REMAIN IN SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

SEBI VIDE ITS ORDER DATED 22/06/2023 REVOKED THE DIRECTIONS ISSUED VIDE ITS EX-PARTE AD-INTERIM ORDER DATED 15/09/2021 AND CONFIRMATORY ORDER DATED 28/03/2022

278

SUSHMA NAGENDRA DUBEY

(PAN:AVUPD3218N)

(Along with : ASHISH S.PAREKH,

NAGENDRA S.DUBEY,

CHIRAG ATUL PITHADIA)

INDULGED IN FRONT RUNNING TRADING ACTIVITIES VIOLATING SECTIONS 12A(A) TO 12A(C) AND 12A(E) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D), 4(1) AND 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003