| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 341 |
|
MAXGROWTH CAPITAL PVT.LTD.
(PAN:AAGCM2507H)
(Depository Participants : CDSL,Member : BSE/NSE)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
MISUSED PLEDGING OF CLIENT’S SECURITIES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
DID NOT RECONCILE STOCK AND DIFFERENCE IN REGISTER OF SECURITIES
DID NOT MAINTAIN REGISTER OF SECURITIES, HOLDING STATEMENTS, BANK BOOKS AND CLIENT LEDGERS
DID NOT MATCH NET BALANCE ACROSS EXCHANGES WITH BACK OFFICE BOOKS
DID NOT PROVIDE CORRECT DETAILS OF EMAIL ID AND MOBILE NUMBERS OF CLIENTS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DID NOT PROVIDE VOICE RECORDING FOR TRADES
DID NOT MAINTAIN EXCLUSIVE EMAIL ID FOR REDRESSAL OF INVESTOR COMPLAINTS
OPERATED TERMINAL BY CORPORATE MANAGER WITHOUT VALID NCFM/NISM CERTIFICATION IN CM AND/OR FO & CD SEGMENT
|
IMPOSED PENALTY RS.15,00,000
29-APR-2022
|
SEBI VIDE ITS NOTICE DATED 20/07/2022 DIRECTED TO PAY RS.15,61,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS NOTICE DATED 10/08/2022 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 25/08/2022 DIRECTED ALL THE BANKS TO REMIT ENTIRE AMOUNT TO THE EXTENT LYING IN THE BANK AND TERM DEPOSIT ACCOUNTS OF MAXGROWTH CAPITAL PVT.LTD. TO SEBI BY WAY OF EFT/NEFT/RTGS
SAT: SAT VIDE ITS ORDER DATED 30/01/2025 GRANTED APPELLANTS THREE WEEKS TO FILE REJOINDER
|
| 342 |
|
|
MAXPRO ASIA
(PAN:AAVFM7397P)
(Member : MCX)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT FOLLOW NORMS FOR NOMENCLATURE OF ACCOUNTS
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
DID NOT MENTION NAME OF COMPLIANCE OFFICER, PHONE NUMBER AND E-MAIL ID
IN CONTRACT NOTES
DID NOT HAVE SURPLUS FUND TO MEET ITS CLIENT’S OBLIGATION
DID NOT HAVE VALID NCFM/NISM CERTIFICATE
|
IMPOSED PENALTY RS.15,00,000
25-APR-2024
|
|
| 343 |
|
|
MEFCOM SECURITIES & STOCK BROKERS
(Member : DSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT ADHERE TO BASE MINIMUM CAPITAL REQUIREMENT
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
18-JUN-1998
|
|
| 344 |
|
|
MEFCOM SECURITIES LTD.
(PAN:AAACM1079Q)
(Member : NSE/OTC/DSE/BSE)
|
|
|
|
VIJAY MEHTA
|
|
DID NOT MAINTAIN SEPARATE BOOKS OF ACCOUNTS FOR TRANSACTIONS ON DIFFERENT STOCK EXCHANGES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT RECORD TIME OF PLACEMENT OF ORDERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT ON COUNTERFOILS OF CONTRACT NOTES
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT MAINTAIN DESPATCH RECORDS
CONTRACT NOTES NOT SIGNED BY AUTHORISED REPRESENTATIVES
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
ENTERED IN AGREEMENTS WITH CLIENTS ON STAMP PAPERS OF INADEQUATE VALUE
DEFICIENCIES IN CLIENT DATABASE
DID NOT DISCLOSE DETAILS OF PROPRIETARY TRADING TO CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT COLLECT MARGINS FROM CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
DID NOT RECONCILE DIVIDEND ACCOUNTS OF CLIENTS
|
IMPOSED PENALTY RS.10,00,000
21-DEC-2005
|
SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS
|
| 345 |
|
|
MERFIN (INDIA) LTD.
(CIN:U65910AP1994PLC018942)
(Member : NSE)
|
|
|
|
P.S.R.NAGABHUSHANA RAO
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
USED CLIENTS' ACCOUNT FOR PAYMENT OF OWN OBLIGATIONS
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT EXERCISE DUE CARE AND DILIGENCE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
|
IMPOSED PENALTY RS.1,50,000
03-OCT-2006
|
|
| 346 |
|
|
MERIDIAN SHARES & SERVICES PVT.LTD.
(PAN:AABCM3154F)
(Along with : DINESH BABULAL JAIN,M/S)
|
|
|
|
DINESH BABULAL JAIN
|
|
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DEFAULTED IN MAINTENANCE OF BOOKS/DOCUMENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT ISSUE CONTRACT NOTES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 05-NOV-1999 TO 04-FEB-2000
28-OCT-1999
|
|
| 347 |
|
|
MERRY SHARE FIN LTD.
(Member : ASE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEFICIENCIES IN CLIENT DATABASE
EVADED CARRY FORWARD MARGIN
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 27-DEC-2002 TO 26-DEC-2003
24-DEC-2002
|
|
| 348 |
|
|
MG CAPITAL SERVICES LTD.
(PAN:AAACM6670R)
(Member : NSE)
|
|
|
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED FAILURE IN MAINTENANCE OF CLIENT DATABASE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED DELAY IN DELIVERY OF SECURITIES WITHIN STIPULATED TIME
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED DEFAULT IN MAINTENANCE OF BOOK OF ACCOUNTS AND RECORDS
ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS
ALLEGED INDULGENCE IN PRO ACCOUNT TRADING
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.3,35,000 VIDE CONSENT ORDER)
31-OCT-2008
|
|
| 349 |
|
|
MG CAPITAL SERVICES LTD.
(PAN:AAACM6670R)
(Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
ALLOWED DEALING TO SUB-BROKER THROUGH FMS SECURITIES LTD.
ALLOWED TRADE TO SUB-BROKER THROUGH FMS SECURITIES LTD.
|
IMPOSED PENALTY
31-MAR-2020
|
SEBI VIDE ITS NOTICE DATED 17/07/2023 DIRECTED TO PAY RS.7,06,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 03/04/2024 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
|
| 350 |
|
|
MG CAPITAL SERVICES LTD.
(PAN:AAACM6670R)
(Member : DSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS
DEALT WITH UN-REGISTERED SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
06-JAN-2000
|
|
| 351 |
|
|
MILLENNIUM STOCK BROKING PVT.LTD.
(PAN:AACCM2853Q)
(Member : NSE/BSE/MCX)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
DID NOT MAINTAIN EVIDENCE/PRE TRADE AUTHORIZATION/CONFIRMATION IN RESPECT OF ORDERS PLACED BY CLIENTS
OPERATED NEAT AND CTCL TERMINALS WITHOUT VALID NISM CERTIFICATION IN F&O SEGMENT
|
IMPOSED PENALTY RS.2,00,000
31-AUG-2023
|
|
| 352 |
|
|
MITRA OPTIONS & SHARE BROKERS LTD.
(Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF SAUDA BOOK
DEALT WITH UN-REGISTERED SUB-BROKERS
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT ISSUANCE OF CONTRACT NOTES IN TIME
DID NOT OBTAIN ACKNOWLEDGEMENT FROM CLIENTS
PAN NO. OF CLIENTS NOT APPEARING ON CONTRACT NOTES
DELIVERY MEMOS NOT SIGNED BY AUTHORISED SIGNATORY/BROKER
DEFAULTED IN MAINTENANCE OF SECURITIES REGISTER
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
TRANSFERRED FUNDS FROM ACCOUNT OF ONE EXCHANGE TO OTHER EXCHANGE
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
PAYMENTS MADE TO CLIENTS FROM BROKERS OWN ACCOUNTS
ACCEPTED/MADE PAYMENTS FROM/TO THIRD PARTIES ON CLIENT ACCOUNTS WITHOUT OBTAINING WRITTEN CONSENT OF CLIENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR MAINTAINING RUNNING ACCOUNT
RELEASED PLEDGED SHARES KEPT FOR MARGIN PURPOSE
OPENED SEVERAL PROPRIETARY ACCOUNTS TO FACILITATE TRANSACTION OF SECURITIES IN INTER-SE ACCOUNTS
TRANSFERRED SECURITIES FROM CLIENT'S ACCOUNT TO BENEFICIARY ACCOUNT OF OTHER BROKERS WITHOUT OBTAINING WRITTEN CONSENT OF CLIENTS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
INDULGED IN INDIRECT FUNDING TO CLIENTS
HELD SECURITIES IN POOL ACCOUNT DESPITE HAVING ANY DEBIT BALANCE OF CLIENTS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 23-NOV-2006 TO 22-FEB-2007
02-NOV-2006
|
|
| 353 |
|
|
MLR SECURITIES PVT.LTD.
(Member : BSE)
|
|
|
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT COLLECT MARGINS FROM CLIENTS
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
06-JAN-2006
|
|
| 354 |
|
|
MODEX INTERNATIONAL SECURITIES LTD.
(CIN:L74899DL1995PLC065153
PAN:AAACM2105K)
(Member : NSE)
|
|
|
SHORTFALL OF CLIENTS FUNDS AND SECURITIES
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
DID NOT MAINTAIN BOOKS OF ACCOUNT AND OTHER DOCUMENTS
PROMISED ASSURED RETURNS TO CLIENTS
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 9 READ WITH CLAUSES A(1) TO A(4) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
CANCELLED REGISTRATION AS STOCK BROKER FROM 11-SEP-2026
11-SEP-2026
|
|
| 355 |
|
|
MODEX INTERNATIONAL SECURITIES LTD.
(CIN:L74899DL1995PLC065153
PAN:AAACM2105K)
(Depository Participants : CDSL,Member : BSE/NSE)
|
|
|
|
AJAY JAIN
PAN:AGXPJ1124B
|
|
|
DHARMENDRA KUMAR ARORA
PAN:ABEPA0955B
|
|
|
PARMINDER SINGH KINDRA
PAN:AAIPK2244G
|
|
|
PAVAN KUMAR SACHDEVA
PAN:AAZPS4975R
|
|
|
SANJAY MOHAN UNIYAL
PAN:AACPU2128H
|
|
|
SARIKA CHAWLA
PAN:AFVPC0852J
|
|
|
SHARDA GUPTA
PAN:AAKPG7214J
|
|
|
SURESH AGARWAL
PAN:CKAPA4494A
|
|
|
VIKRAM DUGGAL
PAN:AHTPD5588N
|
|
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND INDULGED IN MANIPULATIVE ACTIVITIES VIOLATING REGULATION 9(F) READ WITH CLAUSES A(2) TO A(4) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
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 21-AUG-2026 TILL THE SETTLEMENT OF CLAIM
CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 21-AUG-2026 TILL THE SETTLEMENT OF CLAIM
DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR TO CREATE OR INVOKE OR RELEASE ANY INTEREST OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF NSE AND BSE
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 BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY EXCEPT FOR THE PURPOSE OF PAYMENT OF MONEY TO CLIENTS/INVESTORS UNDER WRITTEN CONFIRMATION OF CONCERNED STOCK EXCHANGES
30-APR-2020
IMPOSED PENALTY RS.7,00,000
21-AUG-2026
|
SAT: SAT VIDE ITS ORDER DATED 19/06/2020 DIRECTED APPELLANT TO APPEAR BEFORE NSE, ON 24/06/2020. TRIBUNAL WILL HEAR THE MATTER FURTHER ON 03/07/2020. IN THE INTERIM STATUS QUO SHALL BE MAINTAINED
SAT: SAT VIDE ITS ORDER DATED 03/07/2020 DISPOSED OFF THE APPEAL AT THE ADMISSION STAGE IN THE MANNER MENTIONED IN THE ORDER. NO COSTS
SEBI VIDE ITS ORDER DATED 11/09/2020 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 30/04/2020
SAT: SAT VIDE ITS ORDER DATED 17/08/2020 REJECTED THE APPLICATION MISCONCEIVED SUMMARILY
SAT: SAT VIDE ITS ORDER DATED 11/11/2020 DIRECTED SEBI TO LOOK INTO THIS ASPECT AND PASS APPROPRIATE ORDERS AT THE EARLIEST
SAT: SAT VIDE ITS ORDER DATED 21/01/2022 DISMISSED THE APPEAL AS INFRUCTUOUS
SEBI VIDE ITS ORDER DATED 21/08/2026 DIRECTED TO A) NSE TO DESIGNATED AS LEAD EXCHANGE AND SHALL BE RESPONSIBLE FOR HANDLING COMPLAINTS/CLAIMS OF THE CLIENTS/INVESTORS OF MODEX INTERNATIONAL SECURITIES LTD., ASCERTAINING ALL DUES ARISING FROM VIOLATIONS IN THIS ORDER AND ENSURING THAT SUCH DUES TO CLIENTS ARE SETTLED/RETURNED B) NSE TO COMPLETE CLAIM-SETTLEMENT PROCESS AS EXPEDITIOUSLY AS POSSIBLE IN COORDINATION WITH OTHER MARKET INFRASTRUCTURE INSTITUTIONS (MIIS) AND BANKS C) NSE TO DEAL WITH COMPLAINTS/CLAIMS OF CLIENTS/INVESTORS AGAINST MODEX INTERNATIONAL SECURITIES LTD. AND SHALL BE LIBERTY TO RETURN CLIENT FUNDS AND SECURITIES TO RIGHTFUL CLIENTS/INVESTORS IN ACCORDANCE WITH LAW AND APPLICABLE BYE-LAWS D) ASSETS OF NOTICEE NO.1 AND, TO THE EXTENT LEGALLY PERMISSIBLE, NOTICEE NO.3 TO BE USED EXCLUSIVELY FOR PAYING MONEY AND/OR DELIVERING SECURITIES TO CLIENTS/INVESTORS FOR SETTLEMENT OF THEIR CLAIMS, UNDER NSE’S SUPERVISION AND MONITORING AND IN ACCORDANCE WITH APPLICABLE LAW AND BYE-LAWS E) FOR THE PURPOSE OF SETTLEMENT OF CLAIMS OF CLIENTS/INVESTORS, ASSETS OF MODEX INTERNATIONAL SECURITIES LTD. AND TO THE EXTENT PERMISSIBLE BY LAW, ASSETS OF MR.PAVAN KUMAR SACHDEVA, TO BE UTILISED ONLY TOWARDS PAYMENT OF MONIES AND/OR DELIVERY OF SECURITIES TO CLIENTS/INVESTORS UNDER SUPERVISION AND MONITORING OF NSE IN ACCORDANCE WITH LAW AND APPLICABLE BYE-LAWS F) DEPOSITORIES AND BANKS TO UNFREEZE THE DEMAT ACCOUNTS AND BANK ACCOUNTS OF MODEX INTERNATIONAL SECURITIES LTD. AND MR.PAVAN KUMAR SACHDEVA AS AND WHEN REQUESTED BY NSE TO THE EXTENT NECESSARY FOR PURPOSE OF SETTLEMENT OF CLAIMS OF CLIENTS/INVESTORS OF MODEX INTERNATIONAL SECURITIES LTD. G) DEPOSITORIES AND BANKS TO ENSURE THAT NO DEBIT MADE IN DEMAT AND BANK ACCOUNTS HELD SINGLY OR JOINTLY BY MODEX INTERNATIONAL SECURITIES LTD. AND MR.PAVAN KUMAR SACHDEVA, EXCEPT FOR THE PURPOSE OF SETTLEMENT OF CLAIMS OF CLIENTS/INVESTORS AND ONLY UPON WRITTEN INSTRUCTIONS / CONFIRMATION ISSUED BY NSE
H) ALL MIIS TO TRANSFER TO NSE ANY FUND, SECURITIES OR OTHER ASSETS OF MODEX INTERNATIONAL SECURITIES LTD. AND MR.PAVAN KUMAR SACHDEVA ALREADY AVAILABLE WITH THEM IN ACCORDANCE WITH LAW AND APPLICABLE BYE-LAWS FOR LIMITED PURPOSE OF SETTLEMENT OF CLAIMS OF CLIENTS/INVESTORS OF MODEX INTERNATIONAL SECURITIES LTD. I) RESTRAINED FROM ACCESSING SECURITIES MARKET AND ARE FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, EITHER DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER WHATSOEVER TILL THE SETTLEMENT OF CLAIMS OF CLIENTS/INVESTORS OF MODEX INTERNATIONAL SECURITIES LTD. COMPLETED BY NSE J) DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE OR CREATE OR INVOKE OR RELEASE ANY INTEREST OR CHARGE IN ANY OF SUCH ASSETS EXCEPT WITH PRIOR PERMISSION OF NSE K) IMPOSED PENALTY OF RS.5 LAC U/S 15HA, RS.1 LAC U/S 23D OF SCRA AND RS.1 LAC U/S 23H OF SCRA
|
| 356 |
|
|
MONARCH NETWORTH CAPITAL LTD.
(PAN:AAACN1184F)
(Member : NSE/BSE/MSEI)
|
|
|
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
|
IMPOSED PENALTY RS.2,00,000
25-OCT-2019
|
|
| 357 |
|
|
MONARCH NETWORTH CAPITAL LTD.
(PAN:AAACN1184F)
(Depository Participants : CDSL,Member : NSE/BSE/MSEI)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
DID NOT UPLOAD DETAILS OF CLIENT TO STOCK EXCHANGE UNDER FUNDS AND SECURITIES MODULE OF ENHANCED SUPERVISION
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
DID NOT UPLOAD SCANNED IMAGES OF KYC DOCUMENTS ON KRA
DID NOT VERIFY TRANSACTIONS ORIGINATING FROM DORMANT ACCOUNTS INDEPENDENTLY WITH THE ACCOUNT HOLDERS BEFORE EXECUTION AND RECORDED THE DETAILS OF PROCESS ON INSTRUCTION SLIP
|
IMPOSED PENALTY RS.9,00,000
23-SEP-2020
|
SAT: SAT VIDE ITS ORDER DATED 19/01/2021 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
|
| 358 |
|
|
MONEYLICIOUS SECURITIES PVT.LTD.
(PAN:AAICM0935B)
(Member : NSE/BSE/MCX/ICEX)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
REPORTED WRONG NET WORTH TO EXCHANGE
DID NOT MAINTAIN MINIMUM NETWORTH
|
IMPOSED PENALTY RS.3,00,000
25-NOV-2022
|
|
| 359 |
|
|
MOONGIPA INVESTMENTS LTD.
(CIN:U74899DL1994PLC059535
PAN:AAACM5584A)
(Member : NSE/BSE)
|
|
|
|
MADHUR AGARWAL
PAN:AAFPA1251Q
|
|
|
SHIV KUMAR AGARWAL
PAN:AAFPA1252P
|
|
|
SUDHIR AGARWAL
PAN:AAFPA1250R
|
|
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
INDULGED IN FUND BASED ACTIVITIES INVOLVING PERSONAL FINANCIAL LIABILITY VIOLATING RULE 8(3) (F) OF SECURITIES CONTRACTS (REGULATIONS) RULES, 1957
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT REFUND TO CLIENTS FUNDS AND SECURITIES
|
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 OWNED BY COMPANY
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 10-SEP-2015 TO 09-SEP-2020
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 10-SEP-2015 TO 09-SEP-2020
CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 10-SEP-2015 TO 09-SEP-2020
DIRECTED TO IMPOUND FINANCIAL ASSETS
DIRECTED TO UTILIZE ASSETS ONLY FOR THE PURPOSE OF REFUND OF MONEY AND/OR DELIVERY OF SECURITIES
DIRECTED NOT TO DEBIT BANK ACCOUNTS/DEMAT ACCOUNTS, HELD JOINTLY AND SEVERALLY EXCEPT FOR REFUND AND AFTER CONFIRMATION FROM CONCERNED STOCK EXCHANGE
DIRECTED STOCK EXCHANGES, BANKS AND DEPOSITORIES TO ENSURE COMPLIANCE OF THE DIRECTIONS
DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS
10-SEP-2015
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SEBI VIDE ITS ORDER DATED 08/02/2019 DIRECTED TO 1) JOINTLY AND SEVERALLY TO SETTLE CLAIMS DUE, PAYABLE AND DELIVERABLE TO CLAIMANTS THAT ARE NOT SETTLED/PAID (IN PART/FULL) FROM IPF OF STOCK EXCHANGES, IN RESPECT OF CLAIMS THAT ARE RECEIVED BY STOCK EXCHANGES UPTO 17/02/2019 (2) LIQUIDATE THE ASSETS OF NOTICEES NO.1,2,3,AND 5 TO THE EXTENT REQUIRED FOR COMPLIANCE OF THIS DIRECTION, INCLUDING THE FINANCIAL ASSETS WHICH ARE ALREADY IMPOUNDED BY SEBI AND THE SAME BE UTILIZED FOR THE PURPOSE OF SETTLING AFORESAID CLAIMS OF CLAIMANTS OF MIL AFTER CONSIDERING CLAIMS ALREADY SETTLED BY STOCK EXCHANGES AND DEPOSITORIES 3) TO CONTINUE DIRECTIONS CONTAINED IN INTERIM ORDER DATED 10/09/2015 WITH RESPECT TO RESTRICTION ON ALIENATION/DISPOSAL OF ASSETS OF NOTICEES 4) RESTRAINED FROM ACCESSING SECURITIES MARKET AND ARE FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES (INCLUDING UNITS OF MUTUAL FUNDS), DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER, WHATSOEVER, FOR FIVE (5) YEARS, FROM DATE OF THIS ORDER. DURING THE PERIOD OF RESTRAINT, NOTICEES’ EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS, OF THE SAID NOTICEES SHALL REMAIN FROZEN
SEBI VIDE ITS NOTICE DATED 13/02/2025 DIRECTED TO PAY RS.12,31,59,849.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 12/12/2025 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
SEBI VIDE ITS ORDER DATED 14/01/2026 DIRECTED ALL THE BANKS TO REMIT IN BANK AND FIXED DEPOSITS ACCOUNTS JOINTLY AND SEVERALLY TO SEBI BY WAY OF EFT/NEFT/RTGS
SEBI VIDE ITS NOTICE DATED 22/01/2026 DIRECTED ALL THE BANK AND MUTUAL FUND IN INDIA REDEEM UNITS OF MUTUAL FUND HELD IN NAME OF THE DEFAULTERS AND REMIT THE AMOUNT
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| 360 |
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MOONGIPA INVESTMENTS LTD.
(CIN:U74899DL1994PLC059535
PAN:AAACM5584A)
(Member : NSE/BSE)
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DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
PLEDGED SECURITIES IN EXCESS OF CLIENTS OBLIGATION
INDULGED IN ACTIVITIES OTHER THAN STOCK BROKING BUSINESS BY ACCEPTING DEPOSITS AND PAYING INTEREST THEREON
DID NOT SETTLE ACCOUNTS OF CLIENTS WITHIN STIPULATED TIME
DID NOT REDRESS INVESTOR COMPLAINTS
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CANCELLED REGISTRATION AS STOCK BROKER FROM 18-JUN-2021
18-JUN-2021
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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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| Page 18 of 30
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