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: DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

421

BHATIA FINANCIERS

(Along with : MAJESTIC INDUSTRIES LTD.)

INDULGED IN PRICE RIGGING IN SCRIP OF MAJESTIC INDUSTRIES LTD.

IRREGULARITIES IN RIGHTS ISSUE OF MAJESTIC INDUSTRIES LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 18-FEB-2005 TO 17-FEB-2010

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 18-FEB-2005 TO 17-FEB-2010

18-FEB-2005

422

BHAVANI TRADING CO.

COLLUDED TO MISUSE STOCK EXCHANGE MECHANISM TO PROFITABLY EXIT FROM THEIR POSITIONS IN SCRIP OF RTS POWER CORP.LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 27-OCT-2021 TO 26-OCT-2022

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 27-OCT-2021 TO 26-OCT-2022

05-JUN-2009

AD-INTERIM EX-PARTE ORDER DATED 05/06/2009 CONFIRMED, VIDE ORDER DATED 27/11/2009

SEBI VIDE ITS ORDER DATED 27/10/2021 RESTRAINED FROM ACCESSING SECURITIES MARKET AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FOR A FURTHER PERIOD OF ONE YEAR FROM DATE OF THIS ORDER

423

BHAVI TRADING CO.

(PAN:AAZPP0768M)

INDULGED IN DIVERSION OF IPO PROCEEDS VIOLATING SECTIONS 12(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF ASTER SILICATES LTD.

RESTRAINED FROM ACCESSING SECURITIES MARKET INCLUDING BY ISSUING PROSPECTUS, OFFER DOCUMENT OR ADVERTISEMENT SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 28-APR-2022 TO 27-APR-2027

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 28-APR-2022 TO 27-APR-2027

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 28-APR-2022 TO 27-APR-2027

28-APR-2022

424

BHAWNA STEEL CAST LTD.

DID NOT ADHERE TO LISTING AGREEMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 19-JUL-1999 TO 18-JUL-2004

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 19-JUL-1999 TO 18-JUL-2004

19-JUL-1999

425

BHOLEBABA SUPPLIERS PVT.LTD.

(PAN:AADCB8132G)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF KAILASH AUTO FINANCE LTD.

MISUSED STOCK EXCHANGE SYSTEM TO GENERATE FICTITIOUS LONG-TERM CAPITAL GAINS (LTCG) TO CONVERT UNACCOUNTED INCOME INTO ACCOUNTED ONE WITH NO PAYMENT OF TAXES AS LTCG IS TAX EXEMPT IN MATTER OF KAILASH AUTO FINANCE LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 29-MAR-2016 TO 28-MAR-2020

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-MAR-2016 TO 28-MAR-2020

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

29-MAR-2016

SEBI VIDE ITS ORDER DATED 15/06/2016 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS AD-INTERIM EX-PARTE ORDER DATED 29/03/2016

SEBI VIDE ITS ORDER DATED 05/12/2018 RESTRAINED FROM ACCESSING SECURITIES MARKET OR BUY, SELL OR OTHERWISE DEAL IN SECURITIES MARKET EITHER DIRECTLY OR INDIRECTLY FOR A PERIOD OF FOUR YEARS AND FURTHER FREEZ EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

426

BHORUKA ALUMINIUM LTD.

(PAN:AAACB8073D)

Click here to view complete history of this specific entity/person

AJAY KUMAR DALMIA

PAN:AAIPD2539D

MEDA KASTURI RANGA PANDURANGA SETTY

PAN:ACIPP7049J

RAJAT AGARWAL

PAN:AEYPA0496E

RAJKUMAR AGGARWAL

PAN:AAPPA8159F

INDULGED IN FACILITATING SUBSCRIPTION OF GDRS BY VINTAGE FZE, UAE THROUGH FINANCE OBTAINED FROM EURAM BANK, AUSTRIA FOR SUBSCRIPTION OF GDR AND ISSUER COMPANY (BHORUKA) PLEDGED GDR WITH EURAM BANK VIOLATING SECTIONS 12A(A) TO (C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D) & 4(1) OF PFUTP REGULATIONS, 2003 IN MATTER OF BHORUKA ALUMINIUM LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 22-MAR-2019 TO 21-MAR-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 22-MAR-2019 TO 21-MAR-2024

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

22-MAR-2019

427

BHUVAN TRIPURA INDUSTRIES LTD.

(CIN:L91110GJ1993PLC020268)

VAISHNAV TRIBHUVAN NAYANKUMAR

DID NOT REDRESS INVESTOR COMPLAINTS

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 08-DEC-2010 TILL ALL PENDING INVESTOR GRIEVANCES ARE RESOLVED

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 08-DEC-2010 TILL ALL PENDING INVESTOR GRIEVANCES ARE RESOLVED

08-DEC-2010

428

BHUWANIA VINIMAY PVT.LTD.

(PAN:AACCB6059P)

DHRUVA NARAYAN JHA

RAJENDRA KUMAR KOTHARI

SARBESWAR PARDIA

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH CROSS DEALS AND SYNCHRONIZED TRANSACTIONS IN SCRIP OF PRIME CAPITAL MARKET LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 14-DEC-2009 TO 13-MAR-2010

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 14-DEC-2009 TO 13-MAR-2010

14-DEC-2009

429

BICHARSHIL TRADERS LTD.

ACTED IN CONCERT WITH GROUP ENTITIES TO GIVE MISLEADING IMPRESSION OF SUCCESSFUL SUBSCRIPTION OF PREFERENTIAL ALLOTMENT THROUGH RECIRCULATING MONEY AMONG THEMSELVES IN CASE OF AASTHA BROADCASTING NETWORK LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-JAN-2004 TO 14-JAN-2007

DIRECTED TO FREEZE DEMAT ACCOUNT OF A SPECIFIED SCRIP

06-SEP-2005

DIRECTED TO PERMANENTLY FREEZE DEMAT ACCOUNT W.E.F. 19/01/2007

SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS

SEBI VIDE ITS ORDER DATED 29/08/2012 DIRECTED THAT DEMAT ACCOUNTS WILL REMAIN FROZEN PERMANENTLY

430

BIG EM ESTATES & INFRASTRUCTURES LTD.

(PAN:AAGCB0385G)

ARTI SHARMA

PAN:CACPS0218L

DHARAM VIR BHANDARI

MUNISH SHARMA

PAN:BDQPS1126P

PREM LATA

PAN:AKMPB5152C

RAGHAV SINGH

PAN:BESPS6282K

RAJINDER SINGH

PAN:CSEPS0815B

SUDHI SINGH

PAN:BESPS6281L

OPERATED CIS SCHEMES WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

CEASED AND DESIST AND NOT TO SOLICIT OR UNDERTAKE CIS ACTIVITIES OR ANY OTHER ACTIVITIES IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 26-FEB-2021 TO 25-FEB-2024

DIRECTED NOT TO COLLECT MONEY FROM NEW INVESTORS OR ANY ADDITIONAL SUM OF MONEY FROM EXISTING INVESTORS UNDER ITS EXISTING SCHEMES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 26-FEB-2021 TO 25-FEB-2024

DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, COMMUNICATIONS ETC. PHYSICAL OR DIGITAL IN RELATION TO THEIR SCHEME PRODUCT B (TEAK) OR ANY OTHER UNREGISTERED ACTIVITIY IN SECURITIES MARKET FROM 26-FEB-2021 TO 25-FEB-2024

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 26-FEB-2021 TO 25-FEB-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 26-FEB-2021 TO 25-FEB-2024

DIRECTED TO SUBMIT NUMBER AND DETAILS OF CLIENTS (CONTACT NUMBER, ADDRESS, DATE OF ENROLLMENT) WHO HAVE CONTRIBUTED TO SCHEME PRODUCT B (TEAK) AND TO SUBMIT DETAILS OF CONTRIBUTIONS RECEIVED FROM EACH SUCH CLIENT/UNIT HOLDER

DIRECTED BANKS NOT TO ALLOW ANY DEBITS/WITHDRAWLS AND CREDITS FROM ACCOUNT WITHOUT PERMISSION OF SEBI FROM 26-FEB-2021 TO 25-FEB-2024

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 TO REFUND MONEY TO THE INVESTORS

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO SUBMIT REPAYMENT REPORT TO SEBI CERTIFIED BY TWO INDEPENDENT CHARTERED ACCOUNTANTS WHO ARE IN PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 26-FEB-2021 TO 25-FEB-2024

26-FEB-2021

SEBI VIDE ITS ORDER DATED 06/04/2022 DIRECTED TO 1) WIND UP ITS EXISTING COLLECTIVE INVESTMENT SCHEMES AND REFUND THE MONEY INCLUDING RS.73,65,900.00 ALONGWITH INTEREST2) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) 3) FILE WINDING UP AND REPAYMENT REPORTS DULY CERTIFIED BY AUDITOR, TO SEBI IN FORMAT UNDER SEBI (CIS) REGULATIONS, 1999 WITHIN 30 DAYS AFTER EXPIRY OF AFORESAID SIX MONTHS AND NINE MONTHS RESPECTIVELY 4) PREVENTED 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 5) DEBARRED FROM ACCESSING SECURITIES MARKET, DIRECTLY OR INDIRECTLY AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER, FOR THREE YEARS FROM DATE OF THIS ORDER OR TILL EXPIRY OF THREE YEARS FROM DATE OF COMPLETION OF REFUNDS TO COMPLAINTS/INVESTORS 6) NOT TO LAUNCH ANY COLLECTIVE INVESTMENT SCHEME OR ANY ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

SEBI VIDE ITS NOTICE DATED 18/06/2024 DIRECTED TO PAY RS.73,65,900.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 13/08/2024 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

SEBI VIDE ITS NOTICE DATED 20/09/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.73,65,900.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG

SAT: SAT VIDE ITS ORDER DATED 11/03/2025 CONDONED THE DELAY OF 21 DAYS IN FILING OF APPEAL AND PERMITTED SEBI FOUR WEEKS TO FILE A SHORT REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. APPELLANT TO DEPOSIT RS.42,26,600.00 WITHIN 60 DAYS FROM DATE OF THIS ORDER AND PRAYER UNDER CLAUSE 7 GRANTED SUBJECT TO DEPOSIT SUCH AMOUNT WITH SEBI

SAT: SAT VIDE ITS ORDER DATED 29/04/2025 GRANTED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 29/07/2025 CONDONED THE DELAY IN FILING OF REPLY AND REJOINDER. MISC.APPLICATION NO.670 OF 2025 FOR DEFREEZING OF BANK ACCOUNT STAND DISPOSED OF

431

BIG LIFE CAPITAL SOLUTIONS

(PAN:AKIPV4554A)

PRATEEK VYAS

PAN:AKIPV4554A

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 02-MAY-2023 TO 01-NOV-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 02-MAY-2023 TO 01-NOV-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 02-MAY-2023 TO 01-NOV-2023

DIRECTED NOT TO UNDERTAKE EITHER DIRECTLY OR INDIRECTLY INVESTMENT ADVISORY SERVICES AND/OR RESEARCH ANALYST ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI FROM 02-MAY-2023 TO 01-NOV-2023

02-MAY-2023

SEBI VIDE ITS ORDER DATED 10/07/2024 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

SEBI VIDE ITS NOTICE DATED 07/01/2026 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 10/07/2024

SEBI VIDE ITS ORDER DATED 07/01/2026 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7673 OF 2024 DATED 20/02/2024

432

BILLIONAIRE SOLUTIONS

(PAN:BVPPJ3417H)

AKASH JAISWAL

PAN:BVPPJ3417H

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 12/01/2022 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM CLIENTS/INVESTORS/COMPLAINTS, 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 FORCE OF THIS ORDER C) REPAYMENTS TO CLIENTS/INVESTORS TO BE EFFECTED ONLY IN CASH THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) PREVENTED 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) RESOLVE ALL THE COMPLAINTS PENDING AGAINST THEM AND FILE REPORT OF SUCH RESOLUTION WITH SEBI WITHIN A PERIOD OF 30 DAYS FROM THE DATE OF THIS ORDER F) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANTS G) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR TWO YEARS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS H) RESTRAINED FROM ASSOCIATING WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC, OR ANY INTERMEDIARY REGISTERED WITH SEBI IN ANY CAPACITY FOR ONE YEAR FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS I) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY OTHER ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI J) NOT TO DIVERT ANY FUNDS COLLECTED FROM INVESTORS, KEPT IN BANK ACCOUNT(S) AND/OR IN THEIR CUSTODY EXCEPT FOR THE PURPOSE OF REFUND K) NOT TO DISPOSE OFF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OF CREATE ON ANY OF SUCH ASSETS HELD THEIR NAME, INCLUDING MONEY LYING IN BANK ACCOUNTS EXCEPT FOR PURPOSE OF REFUND

SEBI VIDE ITS NOTICE DATED 30/11/2023 DIRECTED TO PAY RS.44,89,040.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

433

BINNY LTD.

(PAN:AAACB2529G)

NATE NANDHA

PAN:AACPN7263L

INDULGED IN DIVERSION AND SIPHONING OF FUNDS TO RELATED PARTIES, MISREPRESENTATION OF FINANCIAL STATEMENTS AND MISUSE OF FUNDS/BOOKS OF ACCOUNTS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(B) TO 3(D), 4(1), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF BINNY LTD.

INDULGED IN DIVERSION AND SIPHONING OF FUNDS TO RELATED PARTIES, MISREPRESENTATION OF FINANCIAL STATEMENTS AND MISUSE OF FUNDS/BOOKS OF ACCOUNTS VIOLATING REGULATIONS 4(2)(F)(I)(2), 4(2)(F)(II)(2), (6), (7), 4(2)(F)(III)(1), (3), (6) AND (12) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF BINNY LTD.

DID NOT OBTAIN NECESSARY APPROVAL WITH RESPECT TO RELATED PARTY TRANSACTIONS FROM SHAREHOLDERS AND AUDIT COMMITTEE VIOLATING CLAUSE 49(VII)(E) OF ERSTWHILE LISTING AGREEMENT READ WITH REGULATIONS 103 OF SEBI (LODR) REGULATIONS, 2015 AND REGULATIONS 23(2), 23(4) AND 23(8) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF BINNY LTD.

DID NOT OBTAIN NECESSARY APPROVAL WITH RESPECT TO RELATED PARTY TRANSACTIONS FROM SHAREHOLDERS AND AUDIT COMMITTEE VIOLATING CLAUSE 49(VII) OF ERSTWHILE LISTING AGREEMENT READ WITH REGULATIONS 103 OF SEBI (LODR) REGULATIONS, 2015 AND SECTION 21 OF SCRA, 1956 IN MATTER OF BINNY LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 31-JUL-2024 TO 30-JUL-2026

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 31-JUL-2024 TO 30-JUL-2026

RESTRAINED FROM ASSOCIATED WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY AS DIRECTORS/PROMOTERS WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC AND/OR ANY INTERMEDIARY WITH SEBI FROM 31-JUL-2024 TO 30-JUL-2026

IMPOSED PENALTY RS.3,50,00,000

31-JUL-2024

434

BINNY LTD.

(PAN:AAACB2529G)

ARVIND NANDAGOPAL

PAN:AAFPA6259G

MASILAMANI NANDAGOPAL

PAN:AADPN2678L

T.KRISHNAMURTHY

PAN:AAAPK7442G

DIRECTED TO BRING BACK RS.706.03 CRORE WHICH WAS DIVERTED TO VARIOUS VENDORS AND MOHAN BREWERIES & DISTILLERIES LTD. ALONG WITH @12% TO BE COMPUTED FROM RESPECTIVE DATE OF EACH DEBIT TRANSACTIONS RECORDED IN COMPANY�S ACCOUNTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 31-JUL-2024 TO 30-JUL-2027

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 31-JUL-2024 TO 30-JUL-2027

IMPOSED PENALTY RS.6,00,00,000

31-JUL-2024

SEBI VIDE ITS NOTICE DATED 07/11/2024 DIRECTED TO PAY RS.6,30,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 12/11/2024 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

SEBI VIDE ITS NOTICE DATED 19/11/2024 DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK/POST OFFICE ACCOUNTS OF THE DEFAULTER WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 12/11/2024

SAT: SAT VIDE ITS ORDER DATED 19/11/2024 CONDONED THE DELAY OF 8 DAYS IN FILING OF APPEAL

SAT: SAT VIDE ITS ORDER DATED 26/11/2024 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND FILE REJOINDER THREE WEEKS THEREAFTER. STAYED DIRECTION AT PARAGRAPH NO.320(A) OF THE IMPUGNED ORDER FOR THREE MONTHS. STAYED DIRECTION AT PARAGRAPH NO.320(D) OF THE IMPUGNED ORDER SUBJECT TO DEPOSIT 50% PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 23/01/2025 GRANTED APPELLANT FOUR WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 24/02/2025 GRANTED RESPONDENT A WEEK�S TO FILE AFFIDAVIT STATING THE RESULT OF VERIFICATION OF TITLE DOCUMENTS SUBMITTED BY THE APPELLANT

SAT: SAT VIDE ITS ORDER DATED 18/03/2025 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 22/07/2025 APPELLANT TO FILE STATUS REPORT WITHIN TWO WEEKS FROM DATE OF THIS ORDER

435

BISHAL ABASAN DEBENTURE TRUST

TAPAS DAS

ACTED AS DEBENTURE TRUSTEE WITHOUT SEBI REGISTRATION

PROHIBITED FROM CONTINUING WITH THE PRESENT ASSIGNMENT AS DEBENTURE TRUSTEE FROM 16-MAY-2016 TO 15-MAY-2020

PROHIBITED FROM TAKING UP ANY NEW ASSIGNMENT AS DEBENTURE TRUSTEE OR INVOLVEMENT IN ANY NEW ISSUE OF CAPITAL INCLUDING IPO, FOLLOW-ON ISSUE FROM 16-MAY-2016 TO 15-MAY-2020

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-MAY-2016 TO 15-MAY-2020

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-MAY-2016 TO 15-MAY-2020

06-MAY-2015

SEBI VIDE ITS ORDER DATED 16/05/2016 RESTRAINED FROM ACTING AS AN INTERMEDIARY, ACCESSING SECURITIES MARKET AND FURTHER RESTRAINED FROM BUYING, SELLING OR DEALING IN SECURITIES, IN ANY MANNER WHATSOEVER, DIRECTLY OR INDIRECTLY, FOR A PERIOD OF 4 YERAS

436

BISHAL ABASAN INDIA LTD.

(PAN:AADCB4465A)

PRABIR CHOWDHURY

DIN:05194455
PAN:AIPPC9212K

SUJIT KRISHNA PADA ACHARJEE

DIN:05185173
PAN:ASZPA9649Q

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 05-FEB-2021 TO 04-FEB-2025

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 05-FEB-2021 TO 04-FEB-2025

RESTRAINED FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC FROM 05-FEB-2021 TO 04-FEB-2025

DIRECTED NOT TO DISPOSE OF, ALIENATE OR ENCUMBER ANY ASSETS / PROPERTIES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 05-FEB-2021 TO 04-FEB-2025

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

10-OCT-2018

437

BISHAL ABASAN INDIA LTD.

(PAN:AADCB4465A)

BENUKAR BANERJEE

DIN:06701788
PAN:BRMPB8677A

CHANDAN SHAH

DIN:02093399
PAN:AVNPS3170R

GAUTAM KUMAR HALDER

DIN:07004250
PAN:ADPPH2520Q

HIMADRI BAG

DIN:02729318
PAN:AJXPB3796L

KUNTAL BHATTACHARJEE

DIN:06584522
PAN:AQMPB2700Q

MADHAB CHANDRA PURKAIT

DIN:07004248
PAN:AKZPP8185C

MOHD.KALIMULLAH BAIDYA

DIN:07004251
PAN:ASPPB9723J

RAM KUMAR SINHA

DIN:02460975
PAN:APYPS1402F

RATAN CHOWDHURY

DIN:00360241
PAN:ADIPC9989M

SACHIN KUMAR THAKUR

DIN:06560350
PAN:AJUPT3341C

SANTOSH KUMAR PAUL

DIN:07109838
PAN:AMBPP4567C

SHIMA CHOWDHURY

DIN:00360423
PAN:ADIPC9990N

SWAPAN KUMAR BOSE

PAN:AEEPB0756L
DIN:07109850

TUSHAR KANTI NANDI

DIN:07109702
PAN:ACTPN4128K

MOBILIZED RS.2.75 CRORES FROM PUBLIC THROUGH ISSUANCE OF REDEEMABLE PREFERENCE SHARES (RPS) BY WAY OF PRIVATE PLACEMENT TO 293 INVESTORS VIOLATING SECTIONS 56, 60 READ WITH 2(36), 73 AND 117B-C OF THE COMPANIES ACT, 1956 READ WITH THE DEBT SECURITIES REGULATIONS

MOBILIZED RS.89.00 LACS THROUGH ISSUANCE OF NON-CONVERTIBLE DEBENTURES (NCDS) BY WAY OF PRIVATE PLACEMENT TO MORE THAN 49 INVESTORS VIOLATING SECTIONS 56, 60 READ WITH 2(36), 73 AND 117B-C OF THE COMPANIES ACT, 1956 READ WITH THE DEBT SECURITIES REGULATIONS

DIRECTED NOT TO MOBILIZE FUNDS FROM PUBLIC AND/OR INVITE SUBSCRIPTION, IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 16-MAY-2016 TO 15-MAY-2020

PROHIBITED FROM ISSUING PROSPECTUS OR ANY OFFER DOCUMENT, OR ISSUE ADVERTISEMENT FOR SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 16-MAY-2016 TO 15-MAY-2020

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-MAY-2016 TO 15-MAY-2020

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-MAY-2016 TO 15-MAY-2020

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY

DIRECTED NOT TO DISPOSE OF PROPERTIES/ASSETS OWNED OR ACQUIRED WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 16-MAY-2016 TO 15-MAY-2020

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO FILE CERTIFICATE OF COMPLETION OF PROCESS WITH SEBI FROM TWO INDEPENDENT PEER REVIEWED CHARTERED ACCOUNTANTS

06-MAY-2015

SEBI VIDE ITS ORDER DATED 16/05/2016 DIRECTED TO A) JOINTLY AND SEVERALLY, REFUND THE MONEY COLLECTED THROUGH ISSUANCE OF REDEEMABLE PREFERENCE SHARES (RPS) AND NON-CONVERTIBLE DEBENTURES (NCDS) WITH INTEREST @ 15% P.A. COMPOUNDED AT HALF YEARLY INTERVALS FROM THE DATE WHEN REPAYMENTS BECAME DUE TO INVESTORS TILL DATE OF ACTUAL PAYMENT THROUGH BANK DEMAND DRAFT OR PAY ORDER B) PERMITTED TO SELL ASSETS OF THE COMPANY ONLY FOR SOLE PURPOSE OF MAKING REFUNDS INCLUDING INTEREST AND DEPOSIT PROCEEDS IN ESCROW ACCOUNT OPENED WITH A NATIONALISED BANK C) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING THE MODALITIES FOR REFUND D) FILE CERTIFICATE OF SUCH COMPLETION WITH SEBI FROM TWO INDEPENDENT PEER REVIEWED CHARTERED ACCOUNTANTS WHO ARE IN THE PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION E) DIRECTED TO PROVIDE FULL INVENTORY OF ALL ASSETS AND PROPERTIES AND DETAILS OF ALL THEIR BANK ACCOUNTS, DEMAT ACCOUNTS AND HOLDINGS OF SHARES/SECURITIES, IF HELD IN PHYSICAL FORM F) NOT TO, DIRECTLY OR INDIRECTLY, ACCESS CAPITAL MARKET BY ISSUING PROSPECTUS, OFFER DOCUMENT OR ADVERTISEMENT SOLICITING MONEY FROM PUBLIC AND IS FURTHER RESTRAINED AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN WHATSOEVER MANNER FOR A PERIOD OF FOUR YEARS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS

SEBI VIDE ITS ORDER DATED 13/12/2021 A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CHARGING IN RESPECT OF ALL THE IMMOVABLE AND MOVABLE PROPERTIES LISTED IN THE ORDER B) PROHIBITED FROM TAKING ANY BENEFIT UNDER SUCH DISPOSAL, TRANSFER, ALIENATION OR CHARGE IN RESPECT OF THE PROPERTIES LISTED IN ORDER C) DIRECTED TO FURNISH COMPLETE DETAILS OF ALL MOVABLE AND IMMOVABLE PROPERTIES HELD BY DEFAULTERS AND CHARGES, IF ANY DULY CERTIFIED BY BOARD OF DIRECTORS ALONG WITH ORIGINAL DOCUMENTS WITHIN TWO WEEKS FROM DATE OF THIS ORDER AT SEBI, EASTERN REGIONAL OFFICE, KOLKATA D) DIRECTED INSPECTORS GENERAL OF REGISTRATION OF ALL THE STATES AND UNION TERRITORIES AND CONCERNED TEHSILDARS, DISTRICT REGISTRARS AND SUB-REGISTRARS OF THE RESPECTIVE AREAS WHERE THE PROPERTIES ARE LOCATED E) NOT TO ACT UPON ANY DOCUMENTS PURPORTING TO BE DEALING WITH TRANSFER, MORTGAGE, CHARGE, LEASE OR CREATION OR ALTERATION OF ANY INTEREST IN ANY OF THE PROPERTIES OWNED / HELD BY THE DEFAULTERS, IF PRESENTED FOR REGISTRATION

438

BISHAL ABASAN INDIA LTD.

(PAN:AADCB4465A)

AJOY PAUL

DIN:06707622
PAN:AMPPP5677D

LITAN SAHA

DIN:06826108
PAN:CCQPS8194F

PRITI RANI CHOWDHURY

DIN:01717301
PAN:AGUPC5065H

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-MAY-2016 TO 15-MAY-2020

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-MAY-2016 TO 15-MAY-2020

RESTRAINED FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC FROM 16-MAY-2016 TO 15-MAY-2020

DIRECTED NOT TO DISPOSE OF, ALIENATE OR ENCUMBER ANY ASSETS / PROPERTIES

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC EITHER THROUGH OFFER AND ALLOTMENTS OF PREFERENCE SHARES AND/OR ALLOTMENT OF DEBENTURES

10-OCT-2018

439

BISHAL AGRI�BIO INDUSTRIES LTD.

(PAN:AADCB7325D)

CHANDAN SHAH

DIN:02093399
PAN:AVNPS3170R

GAUTAM KUMAR HALDER

DIN:07004250
PAN:ADPPH2520Q

MADHAB CHANDRA PURKAIT

DIN:07004248
PAN:AKZPP8185C

MOHD.KALIMULLAH BAIDYA

DIN:07004251
PAN:ASPPB9723J

RAM KUMAR SINHA

DIN:02460975
PAN:APYPS1402F

RATAN CHOWDHURY

DIN:00360241
PAN:ADIPC9989M

SACHIN KUMAR THAKUR

DIN:06560350
PAN:AJUPT3341C

SANKAR BHATTACHARJEE

DIN:06584569
PAN:AMRPB7694J

SHIMA CHOWDHURY

DIN:00360423
PAN:ADIPC9990N

SUSHANT KUMAR

DIN:06674534
PAN:AOVPK3954N

MOBILIZED RS.3.00 CRORES FROM PUBLIC THROUGH ISSUANCE OF REDEEMABLE PREFERENCE SHARES (RPS) BY WAY OF PRIVATE PLACEMENT TO 284 INVESTORS VIOLATING SECTIONS 56, 60 READ WITH 2(36) AND 73 OF THE COMPANIES ACT, 1956