| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
GUINESS SECURITIES LTD.
(PAN:AAACG9843L)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE/MSEI)
|
|
|
|
DHARMENDRA KOTHARI
PAN:AFGPK6680M
|
|
|
KAMAL KUMAR KOTHARI
PAN:AKYPK8782D
|
|
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
FALSIFIED BOOKS AND WRONGLY REPORTED TO STOCK EXCHANGE
DID NOT MAINTAIN CONTINUOUS NETWORTH
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
DID NOT FURNISH INFORMATION/DATA TO SEBI VIOLATING OF REGULATION 21(1) OF SEBI (STOCK BROKERS & SUB BROKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.2,00,00,000
30-JUN-2022
|
SAT: SAT VIDE ITS ORDER DATED 19/10/2022DIRECTED RESPONDENT THREE WEEKS TO FILE REPLY FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER
SEBI VIDE ITS NOTICE DATED 07/05/2024 DIRECTED TO PAY RS.2,48,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 28/05/2024 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 10/07/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.2,48,01,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
SAT: SAT VIDE ITS ORDER DATED 25/09/2024 DISMISSED THE APPEAL. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 11/12/2024 DISMISSED THE REVIEW APPLICATION AS WITHDRAWN
SAT: SAT VIDE ITS ORDER DATED 11/03/2025 REJECTED THE REVIEW APPLICATIONS
|
| 42 |
|
|
HARDIK FINTRADE PVT.LTD.
(PAN:AAACH2867F)
(Depository Participants : CDSL,Member : BSE/MSEI)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DISCREPANCIES IN CLIENT REGISTRATION PROCESS (KYC, KRA AND CKYCR PROCESS)
DELAY IN UPLOADING KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
MAPPED SINGLE EMAIL ID AND MOBILE NUMBER FOR MULTIPLE CLIENTS
DID NOT UPLOAD DETAILS OF CLIENT TO STOCK EXCHANGE UNDER FUNDS AND SECURITIES MODULE OF ENHANCED SUPERVISION
|
IMPOSED PENALTY RS.4,50,000
14-DEC-2021
|
|
| 43 |
|
|
IFCI FINANCIAL SERVICES LTD.
(PAN:AAACI0567P)
(Depository Participants : CDSL/NSDL)
|
|
|
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES OF SEBI CIRCULAR NO.CIR/MRD/DMS/13/2010 DATED 23/04/2010 READ WITH CIR/MRD/DMS/28/2010 DATED 31/08/2010 VIOLATING CLAUSE 11 OF CODE OF CONDUCT SPECIFIED UNDER THIRD SCHEDULE READ WITH REGULATION 20AA AND 20(2)(B) OF SEBI (DEPOSITORIES & PARTICIPANTS) REGULATIONS, 1996
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
|
IMPOSED PENALTY RS.2,00,000
16-MAY-2019
|
|
| 44 |
|
|
INFRASTRUCTURE LEASING & FINANCIAL SERVICES LTD.
(PAN:AAACI0989F)
(Depository Participants : CDSL/NSDL)
|
|
|
DID NOT EXERCISE DUE DILIGENCE IN FURNISHING PROOF OF IDENTITY OF BENEFICIAL OWNERS
DID NOT OPEN SEPARATE BENEFICIARY ACCOUNTS FOR ALL CLIENTS AVAILING MARGIN TRADING FACILITY FROM THE BROKER
|
IMPOSED PENALTY RS.25,000
15-JUL-2005
|
|
| 45 |
|
|
INVENTURE GROWTH & SECURITIES LTD.
(PAN:AAACI2044K)
(Depository Participants : CDSL,Member : BSE/NSE/MSEI)
|
|
|
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
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
FUNDED CLIENTS OUTSIDE OF MARGIN TRADING FACILITY BEYOND T+2+5 DAYS
DID NOT ISSUE CONTRACT NOTES
CHARGED EXCESS BROKERAGE
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
DID NOT UPDATE CLIENTS EMAIL IDS AND MOBILE NUMBERS
DISCREPANCIES IN NETWORTH REPORTED TO STOCK EXCHANGE
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
|
IMPOSED PENALTY RS.10,00,000
17-NOV-2020
|
|
| 46 |
|
|
INVENTURE GROWTH & SECURITIES LTD.
(PAN:AAACI2044K)
(Depository Participants : CDSL,Member : NSE/BSE/MCX)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
|
IMPOSED PENALTY RS.5,00,000
23-DEC-2021
|
|
| 47 |
|
|
ISF SECURITIES LTD.
(PAN:AAACI1667E)
(Depository Participants : CDSL,Member : NSE/DSE/BSE)
|
|
|
INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH SELF TRADES IN SCRIP OF EXEDY INDIA LTD.
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, INDULGED IN MANIPULATIVE ACTIVITIES AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 7 READ WITH CLAUSES A(1), A(3) TO A(5) OF CODE OF CONDUCT FOR SUB-BROKERS UNDER SCHEDULE II OF SEBI (STOCK BROKERS) REGULATIONS, 1992 IN MATTER OF EXEDY INDIA LTD.
|
IMPOSED PENALTY RS.11,00,000
12-MAR-2013
|
SAT: IMPUGNED ORDER DATED 12/03/2013 QUASHED AND SET ASIDE QUA THE APPELLANT ONLY AND PERMITTED SEBI TO ISSUE A SUPPLEMENTARY SHOW CAUSE NOTICE WITHIN A PERIOD OF EIGHT WEEKS FROM THE DATE OF THIS ORDER
SAT: IMPUGNED ORDER DATED 12/03/2013 QUASHED AND SET ASIDE QUA THE APPELLANT ONLY AND PERMITTED SEBI TO ISSUE A SUPPLEMENTARY SHOW CAUSE NOTICE WITHIN A PERIOD OF EIGHT WEEKS FROM THE DATE OF THIS ORDER
SEBI VIDE ITS ORDER DATED 01/09/2016 DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK ACCOUNTS/LOCKERS/DEMAT ACCOUNTS AND MUTUAL FUND FOLIOS OF THE DEFAULTERS WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 31/08/2016
SEBI VIDE ITS NOTICE DATED 31/08/2016 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS 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
|
| 48 |
|
|
ISS ENTERPRISE LTD.
(Depository Participants : CDSL,Member : BSE/NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
|
IMPOSED PENALTY RS.6,00,000
30-APR-2020
|
|
| 49 |
|
|
JAINAM BROKING LTD.
(CIN:U67120GJ2003PLC043162
PAN:AABCJ3918N)
(Depository Participants : CDSL)
|
|
|
DID NOT COMPLETELY UPDATED POA IN RESPECT OF EXISTING CLIENTS VIOLATING CLAUSE 11 OF CODE OF CONDUCT AS SPECIFIED UNDER THIRD SCHEDULE READ WITH REGULATION 20AA OF SEBI (DEPOSITORIES AND PARTICIPANTS) REGULATIONS, 1996
DELAY IN IMPLEMENTATION OF NEW FORMAT OF POA AS PRESCRIBED VIDE SEBI CIRCULAR NO. CIR/MRD/DMS/13/2010 DATED 23/04/2010
|
IMPOSED PENALTY RS.5,00,000
03-SEP-2015
|
|
| 50 |
|
|
JAINAM BROKING LTD.
(CIN:U67120GJ2003PLC043162
PAN:AABCJ3918N)
(Depository Participants : CDSL,Member : BSE/NSE/MCX/NCDEX)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
FUNDED CLIENTS HAVING DEBIT BALANCES BY PROVIDING FURTHER EXPOSURE
DID NOT UPLOAD KNOW YOUR CLIENTS (KYC) DOCUMENTS TO KRA PROCESSES
MISMATCHED CLIENTS EMAIL IDS AND/OR MOBILE NUMBERS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
REPORTED WRONG USER DETAILS ON STOCK EXCHANGES PLATFORM
REPORTED WRONG BROKERAGE INCOME IN RISK-BASED SUPERVISION
DID NOT DEVELOP PLAN AND SCHEDULE TO DO VULNERABILITY ASSESSMENT FOR ALL CRITICAL IT ASSETS
|
IMPOSED PENALTY RS.7,00,000
02-SEP-2026
|
|
| 51 |
|
|
JSEL SECURITIES LTD.
(Depository Participants : CDSL)
|
|
|
INDULGED IN IRREGULARITIES IN CAPTURING AND PUNCHING DETAILS OF DELIVERY INSTRUCTION SLIPS
INDULGED IN MISAPPROPRIATION OF SHARES THROUGH ISSUANCE OF FAKE DELIVERY INSTRUCTION SLIPS AS REQUIRED UNDER REGULATION 20A OF SEBI (DEPOSITORIES AND PARTICIPANTS) REGULATIONS, 1996
DID NOT ADHERE TO PROPER PROCEDURE PERTAINING TO CLIENT AGREEMENTS AS REQUIRED UNDER REGULATION 41 OF SEBI (DEPOSITORIES AND PARTICIPANTS) REGULATIONS, 1996
DID NOT FOLLOW MAKER CHECKER SYSTEM WHILE PROCESSING DIS AS REQUIRED UNDER REGULATION 20A OF SEBI (DEPOSITORIES AND PARTICIPANTS) REGULATIONS, 1996
|
IMPOSED PENALTY RS.1,00,000
31-MAR-2010
|
SAT: SAT VIDE ITS ORDER DATED 13/02/2024 CONDONED THE DELAY IN FILING OF APPEAL. ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND REJOINDER, IF ANY, WITHIN THREE WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 16/04/2024 CONDONED THE DELAY IN FILING OF APPEAL
|
| 52 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE)
|
|
|
|
COMANDUR PARTHASARATHY
PAN:AAFPC7617L
|
|
PLEDGED SECURITIES WITHOUT KNOWLEDGE OF CLIENTS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
TRANSFERRED FUNDS WITH ASSOCIATE COMPANY
DID NOT MAINTAIN CONTINUOUS NETWORTH
|
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 28-APR-2023 TO 27-APR-2030
DIRECTED TO COOPERATE WITH NSE IN REFUND OF FUNDS AND SECURITIES OF THE CLIENTS OF KARVY STOCK BROKING LTD.
IMPOSED PENALTY RS.13,00,00,000
28-APR-2023
|
SEBI VIDE ITS NOTICE DATED 07/08/2024 DIRECTED TO PAY RS.15,21,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 12/09/2024 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 14/10/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.14,86,37,023.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
|
| 53 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Depository Participants : CDSL/NSDL,Member : BSE/NSE/OTC)
|
|
|
EXTENDED “DELAYED PAYMENT FACILITY” SIMILAR TO “MARGIN TRADING FACILITY” TO ITS CLIENTS
|
IMPOSED PENALTY RS.10,00,000
24-DEC-2008
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,00,000, LEGAL EXPENSES RS.25,000 VIDE CONSENT ORDER)
07-SEP-2009
|
SAT: ORDER DATED 24/12/2008 DISPOSED OFF, AS APPLICANT AGREED TO PAY RS.12,00,000 TOWARDS SETTLEMENT CHARGES AND RS.25,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 54 |
|
|
MANSI SHARE & STOCK ADVISORS PVT.LTD.
(PAN:AADCM6645D)
(Depository Participants : CDSL,Member : BSE/NSE)
|
|
|
MADE INCORRECT REPORTING OF DATA TO STOCK EXCHANGES
MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
MAPPED SINGLE EMAIL ID AND MOBILE NUMBER FOR MULTIPLE CLIENTS
DID NOT HAVE CALL RECORDING SYSTEM FOR PREVENTION OF UNAUTHORIZED TRADING
DID NOT PROVIDE CORRECT DATA TO STOCK EXCHANGE UNDER RISK-BASED SUPERVISION
DID NOT MAINTAIN CORRECT RECORDS OF CLIENTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
FUNDED CLIENTS OUTSIDE OF MARGIN TRADING FACILITY BEYOND T+2+5 DAYS
DID NOT UPLOAD KYC DATA WITH CKYCR
MISMATCHED CLIENTS EMAIL IDS AND/OR MOBILE NUMBERS
DID NOT UPLOAD PLEDGED SHARES OF CLIENTS AS PER ENHANCED SUPERVISION REQUIREMENT
DID NOT REPORT CORRECT DATA WITH RESPECT TO COLLATERAL DEPOSITED WITH CLEARING CORPORATION
OPERATED NEAT AND CTCL TERMINALS WITHOUT VALID NISM CERTIFICATION IN F&O SEGMENT
|
IMPOSED PENALTY RS.13,00,000
30-JUL-2020
|
|
| 55 |
|
|
MANSUKH SECURITIES & FINANCE LTD.
(PAN:AAACM1701D)
(Member : NSE,Depository Participants : NSDL)
|
|
|
CONSIDERABLE DELAY IN DEMATERIALIZATION OF SHARES HELD BY PUBLIC SHAREHOLDERS
OPENED BENEFICIARY ACCOUNTS IMPROPERLY IN VIOLATION OF SEBI DIRECTIVES/INSTRUCTIONS/GUIDELINES
DEFICIENCIES IN MEMBER-CLIENT AGREEMENTS
DID NOT VERIFY SIGNATURES PROPERLY AT THE TIME OF RELEASING SECURITIES FROM ACCOUNTS
|
IMPOSED PENALTY RS.8,00,000
17-JUN-2009
|
SAT: ORDER DATED 17/06/2009 MODIFIED BY REDUCING PENALTY AMOUNT TO RS.4,00,000 FROM RS.8,00,000
|
| 56 |
|
|
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
|
| 57 |
|
|
MEHTA EQUITIES LTD.
(PAN:AAACR4143C)
(Depository Participants : CDSL,Member : OTC)
|
|
|
|
ASHISH SHARMA
|
|
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT FURNISH REQUISITE INFORMATION TO SEBI IN TIME
|
IMPOSED PENALTY RS.5,00,000
06-SEP-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER DATED 06/09/2006 SET ASIDE LEAVING PARTIES TO BEAR THEIR OWN COSTS
|
| 58 |
|
|
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
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MONARCH NETWORTH CAPITAL LTD.
(PAN:AAACN1184F)
(Depository Participants : CDSL,Member : NSE/BSE/MSEI)
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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
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IMPOSED PENALTY RS.9,00,000
23-SEP-2020
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SAT: SAT VIDE ITS ORDER DATED 19/01/2021 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
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MOTILAL OSWAL FINANCIAL SERVICES LTD.
(PAN:AAECM2876P)
(Depository Participants : CDSL/NSDL,Member : NCDEX/BSE/MCX/NSE)
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WRONG REPORTING AND SHORT COLLECTION OF MARGIN
MADE INCORRECT REPORTING OF CASH AND CASH EQUIVALENT BALANCE
REPORTED INCORRECT MARGIN TRADING FUNDING (MTF) COLLATERALS TO STOCK EXCHANGES
TRANSFERRED SECURITIES OF CREDIT BALANCE CLIENTS TO CLIENT’S UNPAID SECURITIES ACCOUNT
DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DID NOT REFUND MONEY COLLECTED UNDER CIS
DEFAULTED IN MAINTENANCE OF BANK BOOK
DID NOT REDRESS INVESTOR COMPLAINTS
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IMPOSED PENALTY RS.7,00,000
30-JAN-2025
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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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