| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 301 |
|
KIFS TRADE CAPITAL PVT.LTD.
(PAN:AAACK6128Q)
(Member : NSE/BSE/MCX/NCDEX)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
|
IMPOSED PENALTY RS.3,00,000
31-OCT-2022
|
SAT: SAT VIDE ITS ORDER DATED 13/08/2024 GRANTED RESPONDENT TWO WEEKS TO FILE REPLY
SAT: SAT VIDE ITS ORDER DATED 17/04/2025 GRANTED APPELLANTS THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 30/07/2025 GRANTED THREE WEEKS TO FILE REJOINDER
|
| 302 |
|
|
KIRIT SHAH SECURITIES PVT.LTD.
(Member : ASE)
|
|
|
DEFICIENCIES IN CLIENT DATABASE
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-OCT-1999 TO 10-JAN-2000
05-OCT-1999
|
|
| 303 |
|
|
KORP SECURITIES LTD.
(PAN:AACCK1771D)
(Member : NSE)
|
|
|
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DIFFERENCES BETWEEN CLIENT LEDGER AND TRADE REPORT AS TRANSACTIONS CARRIED ON IN NAME OF A DIFFERENT CLIENT AND RECORDED IN BACK-OFFICE IN NAME OF ANOTHER CLIENTS
SAUDAS BEING PUNCHED IN THE BACK-OFFICE WITHOUT ACTUAL TRANSACTIONS BEING CARRIED OUT AT THE TERMINAL
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN SHAREHOLDING OF THE COMPANY
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JAN-2006 TO 16-JUL-2006
27-DEC-2005
|
|
| 304 |
|
|
KRIPA SECURITIES PVT.LTD.
(PAN:AACCK2399D)
(Member : BSE/NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DELAY IN SETTLING OF RUNNING ACCOUNTS OF CLIENTS
MISMATCHED CLIENTS EMAIL IDS AND/OR MOBILE NUMBERS
DID NOT ISSUE CONTRACT NOTES
DID NOT CO-OPERATE WITH SEBI IN INSPECTION
|
IMPOSED PENALTY RS.7,00,000
28-FEB-2023
|
SEBI VIDE ITS NOTICE DATED 19/07/2023 DIRECTED TO PAY RS.10,61,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SAT: SAT VIDE ITS ORDER DATED 18/05/2023 ALLOWED RESPONDENT FURTHER TWO WEEKS TO FILE REPLY AND REJOINDER TO BE FILED ON 21/06/2023. INTERIM RELIEF TO CONTINUE TILL FURTHER ORDERS
SAT: SAT VIDE ITS ORDER DATED 10/08/2023 CONDONED THE DELAY IN FILING OF APPEAL. DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. DIRECTED APPELLANT TO DEPOSIT RS.10 LAC WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. IF AMOUNT IS DEPOSITED, BALANCE AMOUNT NOT TO BE RECOVERED DURING PENDENCY OF THE APPEAL
SEBI VIDE ITS ORDER DATED 23/08/2023 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
SAT: SAT VIDE ITS ORDER DATED 29/08/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE. DIRECTED APPELLANT TO DEPOSIT RS.10 LAC AND STAYED EFFECT AND OPERATION OF IMPUGNED ORDER
SAT: SAT VIDE ITS ORDER DATED 06/09/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER TO BE FILED THREE WEEKS THEREAFTER. IN THE MEANWHILE, APPELLANT TO DEPOSIT PENALTY AMOUNT WHICH TO BE SUBJECT RESULT OF APPEAL
SEBI VIDE ITS NOTICE DATED 29/09/2023 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.10,61,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
SEBI VIDE ITS NOTICE DATED 06/10/2023 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 23/08/2023
SAT: SAT VIDE ITS ORDER DATED 06/10/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 30/09/2024 GRANTED RESPONDENT FOUR WEEKS AND REJOINDER,IF ANY, TO BE FILED WITHIN TWO WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 05/01/2024 ALLOWED APPELLANT TWO WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 14/03/2024 ALLOWED EXTENSION OF FOUR MONTHS W.E.F.11/03/2024 FOR COMING OUT WITH A SCHEME UNDER SEBI (SETTLEMENT PROCEEDINGS) REGULATIONS, 2018 AS DIRECTED BY THIS TRIBUNAL VIDE ORDER DATED 12/12/2023
SAT: SAT VIDE ITS ORDER DATED 25/11/2024 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 28/11/2025 PARTLY ALLOWED THE APPEAL BY REDUCING PENALTY TO RS.1 LAC FROM RS.3 LAC U/S 23D OF SCRA AND SET ASIDE PENALTY U/S 15A(B). NO COSTS
|
| 305 |
|
|
KRISHA INCAP SERVICES PVT.LTD.
(PAN:AAACK2230P)
(Member : NSE)
|
|
|
|
RUPESH KUMAR
PAN:AMYPK4943N
|
|
|
SANJAY KUMAR MISHRA
PAN:APNPM0684G
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DELAY IN SETTLING OF CLIENT’S FUNDS AND/OR SECURITIES
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
OPENED MULTIPLE UNIQUE CLIENT CODE (UCC) AGAINST SINGLE PAN
DID NOT PROVIDE CORRECT DATA TO STOCK EXCHANGE UNDER RISK-BASED SUPERVISION
MISSTATED CLIENT LEDGER
DID NOT MAINTAIN REGISTER OF SECURITIES, HOLDING STATEMENTS, BANK BOOKS AND CLIENT LEDGERS
DID NOT DISPLAY CORRECT INFORMATION ON WEBSITE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT HAVE VALID NCFM/NISM CERTIFICATE
DID NOT MAINTAIN RECORD OF CLIENT'S ORDER
DID NOT FULFIL NET WORTH CRITERIA
|
IMPOSED PENALTY RS.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
31-MAY-2024
|
SAT: SAT VIDE ITS ORDER DATED 20/08/2024 GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER TO BE FILED WITHIN TWO WEEKS THEREAFTER. REMAIN STAYED THE IMPUGNED ORDER SUBJECT TO DEPOSIT RS.5 LAC WITHIN SIX WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 17/10/2024 REJOINDER, IF ANY, TO BE FILED WITHIN THREE WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 14/01/2025 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 08/04/2025 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 24/06/2025 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER
|
| 306 |
|
|
KRISHA INCAP SERVICES PVT.LTD.
(PAN:AAACK2230P)
(Member : NSE)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
DID NOT MAINTAIN REGISTER OF SECURITIES, HOLDING STATEMENTS, BANK BOOKS AND CLIENT LEDGERS
DID NOT DISPLAY CORRECT DETAILS OF ADDRESS AND COMPLIANCE OFFICER ON ITS WEBSITE
DID NOT MAINTAIN RECORD OF CLIENT'S ORDER
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT HAVE NISM SERIES VII-SECURITIES OPERATIONS AND RISK MANAGEMENT CERTIFICATION
DID NOT FULFIL NET WORTH CRITERIA
|
PROHIBITED FROM TAKING ANY NEW ASSIGNMENT AS A STOCK BROKER FROM 02-DEC-2024 TO 01-FEB-2025
02-DEC-2024
|
|
| 307 |
|
|
KUNVARJI FINSTOCK PVT.LTD.
(PAN:AAACK8760E)
(Member : BSE/NSE/MSEI)
|
|
|
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DELAY IN SETTLING OF RUNNING ACCOUNTS OF CLIENTS
|
IMPOSED PENALTY RS.1,00,000
30-MAR-2021
|
|
| 308 |
|
|
KUSUM KOCHAR,M/S
(Member : GSE)
|
|
|
|
KUSUM KOCHAR
|
|
DID NOT PAY FEES TO SEBI
DID NOT ISSUE CONTRACT NOTES
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS AND/OR DOCUMENTS
TRANSACTED AT A RATE HIGHER THAN MARKET RATE
DID NOT MAINTAIN SEPARATE CLIENT ACCOUNT
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 03-AUG-1998 TILL PAYMENT OF PRESCRIBED FEES TO SEBI
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
27-JUL-1998
|
|
| 309 |
|
|
LALIT CO.
(Member : CSE)
|
|
|
|
KISHAN LAL PUGALIA
|
|
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-OCT-2002 TO 13-APR-2003
17-OCT-2002
|
|
| 310 |
|
|
LEO FINANCIAL SERVICES LTD.
(PAN:AAACL0430C)
(Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
|
IMPOSED PENALTY RS.3,00,000
18-DEC-2019
|
|
| 311 |
|
|
LIQUID INVESTMENTS & FINANCIAL SERVICES PVT.LTD.
(Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT FROM CLIENTS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT APPOINT COMPLIANCE OFFICER
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
13-JAN-2006
|
|
| 312 |
|
|
LKP SECURITIES LTD.
(PAN:AAACL0963A)
(Member : BSE/NSE)
|
|
|
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
|
IMPOSED PENALTY RS.5,00,000
12-FEB-2020
|
|
| 313 |
|
|
LKP SECURITIES LTD.
(PAN:AAACL0963A)
(Member : BSE/NSE/MCX)
|
|
|
DID NOT MAINTAIN EVIDENCE/PRE TRADE AUTHORIZATION/CONFIRMATION IN RESPECT OF ORDERS PLACED BY CLIENTS
|
IMPOSED PENALTY RS.4,00,000
22-AUG-2024
|
|
| 314 |
|
|
LOHIA SECURITIES PVT.LTD.
(Member : NSE)
|
|
|
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
30-DEC-2005
|
|
| 315 |
|
|
LOHIA SECURITIES PVT.LTD.
(Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT FILE FIRST INFORMATION REPORT IN RESPECT OF STOLEN/FAKE/FORGED SHARES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
06-JAN-2000
|
|
| 316 |
|
|
LRM SECURITIES LTD.
(Member : DSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
PROVIDED FALSE/MISLEADING INFORMATION TO SEBI DURING INVESTIGATIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 08-JUL-2004 TO 07-OCT-2004
17-JUN-2004
|
|
| 317 |
|
|
LSC SECURITIES LTD.
(PAN:AAACL6361J)
(Member : BSE/NSE/MSEI)
|
|
|
DID NOT PROVIDE INFORMATION TO SEBI
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
|
IMPOSED PENALTY RS.6,00,000
24-OCT-2019
|
|
| 318 |
|
|
LSE SECURITIES LTD.
(PAN:AAACL6361J)
(Member : NSE/BSE)
|
|
|
DIRECTOR OF STOCK BROKING FIRM ACTED AS SUB BROKER OF HIS OWN FIRM THROUGH HIS CORPORATE ENTITY
DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS
DEALT IN CASH WITH CLIENTS
ALLOWED TERMINALS TO UNREGISTERED SUB-BROKERS
DID NOT ACCEPT DEPOSIT FROM ITS SUB-BROKERS IN FORM AND MANNER AS STIPULATED BY SEBI
DID NOT MAKE CLOSE OUT FOR INTERNAL SHORTAGE BETWEEN ITS SUB-BROKERS AT SAME PERCENTAGE AS APPLICABLE FOR SHORTAGE AT BSE/NSE
DID NOT UPLOAD ITS ANNUAL ACCOUNTS ON ITS WEBSITE
|
IMPOSED PENALTY RS.1,00,000
29-JUL-2013
|
|
| 319 |
|
|
M.AGARWAL STOCK BROKERS PVT.LTD.
(Member : DSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-NOV-2003 TO 11-DEC-2003
24-OCT-2003
|
|
| 320 |
|
|
M.M.BROKERS PVT.LTD.
(Along with : RAJAN MAHESHWARI,M/S)
|
|
|
|
RAJAN MAHESHWARI
|
|
DID NOT PRODUCE BOOKS OF ACCOUNTS TO SEBI FOR INSPECTION
DEFAULTED IN MAINTENANCE OF SAUDA BOOK
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DID NOT ISSUE CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
USED EXCHANGE MECHANISM IN ORDER TO MEET FINANCIAL OBLIGATIONS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 02-JUL-1999 TO 01-AUG-1999
06-JUL-1999
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 16 of 30
|
