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.

COMPANIES: FAILED TO REDRESS INVESTOR/CREDITORS COMPLAINTS

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

341

H-LON HOSIERY LTD.

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT REGISTER FOR SEBI COMPLAINTS REDRESSAL SYSTEM (SCORES)

IMPOSED PENALTY RS.2,00,000

29-OCT-2014

INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

342

HMP CEMENT LTD.

(PAN:AAACH7410E)

DELAY IN REGISTRATION FOR SEBI COMPLAINTS REDRESSAL SYSTEM (SCORES)

IMPOSED PENALTY RS.1,00,000

30-SEP-2019

343

HNI RESEARCH

(PAN:AKDPG6338G)

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DWARKA PRASAD GUPTA

PAN:AKDPG6338G

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

DID NOT INTIMATE SEBI ABOUT CHANGE OF ADDRESS VIOLATING REGULATIONS 9(1)(C) AND 13(1) OF SEBI (INTERMEDIARIES) REGULATIONS, 2008

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

23-FEB-2022

344

HNI RESEARCH

(PAN:AKDPG6338G)

DWARKA PRASAD GUPTA

PAN:AKDPG6338G

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

DID NOT PROVIDE INFORMATION TO SEBI

DID NOT INFORM SEBI PRIOR TO CHANGING ITS REGISTERED OFFICE ADDRESS

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 27-APR-2023

27-APR-2023

345

HUHTAMAKI PPL LTD.

DID NOT REDRESS INVESTOR COMPLAINTS

IMPOSED PENALTY RS.5,00,000

18-JUN-2018

346

I360 STAFFING & TRAINING SOLUTIONS PVT.LTD.

(PAN:AAACI8851P)

MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

FRAUDULENTLY TRANSFERRED CLIENTS� SECURITIES TO GROUP ENTITIES

DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS

DIVERTED FUNDS FOR UTILIZATION BY ITSELF AND ITS GROUP COMPANIES/ASSOCIATE COMPANIES

EXTENDED MARGIN TRADING FACILITY TO ITS CLIENTS WITHOUT OBTAINING REQUISITE APPROVAL FROM STOCK EXCHANGES

DID NOT CARRY OUT ACTUAL PERIODIC SETTLEMENT OF FUNDS AND SECURITIES OF ITS CLIENTS

DID NOT ENSURE DELIVERY OF SECURITIES AND MAKING PAYMENT OF AMOUNTS DUE TO ITS CLIENTS

DID NOT PROVIDE STATEMENTS OF ACCOUNTS IN RESPECT OF FUNDS OF ITS CLIENTS

DID NOT PROVIDE PERIODIC STATEMENT OF TRANSACTIONS IN SECURITIES AND RESULTANT SHAREHOLDING TO THE BENEFICIAL OWNERS OF SUCH SECURITIES

DID NOT HAVE PERIODIC INTERNAL AUDIT CONDUCTED OF ITS STOCK BROKING AND DEPOSITORY PARTICIPANT OPERATIONS

DID NOT OBTAIN PRIOR APPROVAL FROM SEBI FOR THE CHANGE IN MANAGEMENT AND CONTROL

DID NOT MAKE PAYMENTS TO CLIENTS IN TIME

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-MAR-2016 TO 24-MAR-2026

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-MAR-2016 TO 24-MAR-2026

15-MAR-2016

SAT: SAT VIDE ITS ORDER DATED 26/04/2021 DISMISSED THE APPEAL

347

ICES SOFTWARE LTD.

SUHAS GUNPULE

DID NOT REDRESS INVESTOR COMPLAINTS

IMPOSED PENALTY RS.50,000

31-MAR-2005

348

ICES SOFTWARE LTD.

DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR�S GRIEVANCES

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

IMPOSED PENALTY RS.30,000

09-MAR-2012

INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

349

IDEAL HOTELS & INDUSTRIES LTD.

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT REGISTER FOR SEBI COMPLAINTS REDRESSAL SYSTEM (SCORES)

IMPOSED PENALTY RS.1,20,000

29-OCT-2014

SAT: APPEAL DISMISSED. NO COSTS

INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

350

IFL PROMOTERS LTD.

(CIN:L65910DL1992PLC049014
PAN:AAACI5322C)

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES

MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS

DID NOT SETTLE CLIENT�S FUNDS AND/OR SECURITIES

TRANSFERRED CLIENTS SECURITIES TO ITS RELATED ENTITIES

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 25-SEP-2018 TO 24-SEP-2025

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 25-SEP-2018 TO 24-SEP-2025

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 TO UTILIZE ASSETS OF THE ENTITIES ONLY FOR THE PURPOSE OF PAYMENT OF MONEY AND/OR DELIVERY OF SECURITIES, AS THE CASE MAY BE, TO CLIENTS/INVESTORS UNDER THE SUPERVISION OF CONCERNED STOCK EXCHANGE(S)

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

25-SEP-2018

SEBI VIDE ITS ORDER DATED 25/10/2019 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 25/09/2018

SEBI VIDE ITS ORDER DATED 20/09/2023 DIRECTED TO A) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, EITHER DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER WHATSOEVER SEVEN YEARS B) DIRECTED TO DEPOSIT RS.2.77 CRORE AND RS.1.36 CRORE RESPECTIVELY IN INTEREST BEARING ESCROW ACCOUNT HELD WITH NATIONALIZED BANK WITHIN THIRTY DAYS FROM DATE OF RECEIPT OF THIS ORDER C) NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS, WHETHER MOVABLE OR IMMOVABLE (INCLUDING FUNDS IN THEIR BANK ACCOUNTS) OR CREATE ANY INTEREST OR CHARGE IN ANY SUCH ASSETS TILL SUCH TIME THE REFUNDS/REPAYMENTS AS DIRECTED ABOVE ARE COMPLETED D) BANK ENSURE THAT NO DEBITS ARE MADE IN THE BANK ACCOUNTS HELD BY NOTICEES EXCEPT FOR THE PURPOSE OF OPENING OF ESCROW ACCOUNT, TILL SUCH TIME REFUNDS/REPAYMENTS AS DIRECTED ABOVE ARE COMPLETED

351

IN HOUSE PRODUCTIONS LTD.

(PAN:AAACV1685K)

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR�S GRIEVANCES

IMPOSED PENALTY RS.2,00,000

18-JAN-2017

SEBI VIDE ITS ORDER DATED 07/06/2022 DIRECTED TO PAY RS.3,31,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS NOTICE DATED 28/07/2022 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 26/12/2022 DIRECTED ALL THE BANKS TO REMIT RS.3,45,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF IN HOUSE PRODUCTIONS LTD. TO SEBI BY WAY OF EFT/NEFT/RTGS

SEBI VIDE ITS NOTICE DATED 13/07/2026 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 28/07/2022

352

INCORPORATED ENGINEERS LTD.

(CIN:U17119GJ1987PLC009506)

DID NOT REDRESS INVESTOR COMPLAINTS

IMPOSED PENALTY RS.1,00,000

20-NOV-2019

353

INDAGE RESTAURANTS & LEISURE LTD.

(CIN:L15520MH1982PLC028415)

DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR�S GRIEVANCES IN STIPULATED TIME

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

IMPOSED PENALTY RS.3,50,000

22-FEB-2018

354

INDIA ASSET GROWTH FUND

(PAN:AADTA8272H)

ARPAN SARKAR

PAN:BLMPS9641B

JAYKISHAN KIKANI

PAN:CCDPK1654H

VISHNU PRAKASH RATHORE

PAN:AIIPR6196C

DID NOT WIND UP THE SCHEME EVEN AFTER COMPLETION OF EXTENDED TENURE AND CONTINUING THE SCHEME BEYOND PERMISSIBLE EXTENSIONS OF TWO YEARS

DID NOT MAKE DISCLOSURE OF PENDING MATTER WITH INCOME TAX DEPARTMENT

DID NOT MAKE DISCLOSURE OF DISCIPLINARY ACTION HISTORY AGAINST TRUSTEE OF THE FUND

PROVIDED VALUATION OF ASSETS INSTEAD OF SECURITIES HELD BY FUND

DID NOT OBTAIN REGISTRATION FROM FIU-IND

DID NOT COMMUNICATE DETAILS OF PRINCIPAL OFFICER AND DESIGNATED DIRECTOR

DID NOT MAKE DISCLOSURE OF INVESTOR CHARTER TO INVESTORS

DELAY IN FILING PRIVATE PLACEMENT MEMORANDUM (PPM) AUDIT REPORT

DID NOT ENSURE THAT PRIVATE PLACEMENT MEMORANDUM WAS IN SPECIFIED FORMAT

DID NOT MAKE DISCLOSURE OF DISTRIBUTION WATERFALL

DELAY IN APPOINTMENT OF BENCHMARKING AGENCY

DID NOT PROVIDE NECESSARY INFORMATION TO BENCHMARKING

DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME

IMPOSED PENALTY RS.11,00,000

20-JUN-2025

SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER.

SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED EXEMPTION APPLICATION

SAT: SAT VIDE ITS ORDER DATED 18/08/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER

355

INDIAN PRODUCTS LTD.

(PAN:AAACI6463L)

DID NOT REGISTER FOR SEBI COMPLAINTS REDRESSAL SYSTEM (SCORES)

IMPOSED PENALTY RS.1,00,000

31-JUL-2019

356

INDITALIA REFCON LTD.

(PAN:AAACI1128G)

SUJATA R.MITTAL

DID NOT REDRESS INVESTOR COMPLAINTS

IMPOSED PENALTY RS.1,00,000

29-MAR-2005

357