| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
(Member : NSE/BSE,Depository Participants : CDSL/NSDL)
|
|
|
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT MAKE DISCLOSURE OF DP ACCOUNT OF KARVY STOCK BROKING LTD. TO STOCK EXCHANGE
DID NOT REPORT DP ACCOUNT NO. 1458979 (KARVY STOCK BROKING LTD.) (BSE) IN THE FILINGS FROM JANUARY, 2019 TO AUGUST, 2019
CREDITED FUNDS RAISED BY PLEDGING OF CLIENT SECURITIES TO SIX OF ITS OWN BANK ACCOUNTS (“STOCK BROKER-OWN ACCOUNT”) INSTEAD OF “STOCK BROKER-CLIENT ACCOUNT” AND DID NOT REPORT THESE TO EXCHANGE
CREATED PLEDGE ON SECURITIES OF CLIENTS AND GENERATED FUNDS
SOLD EXCESS SECURITIES (SECURITIES NOT AVAILABLE IN DP ACCOUNT) OF RS.485 CRORE THROUGH 9 RELATED CLIENTS AND TRANSFERRED EXCESS SECURITIES TO 6 OUT OF THESE 9 RELATED CLIENTS OF RS.162 CRORES
TRANSFERRED SECURITIES WORTH RS.27.8 CRORES, OFF-MARKET, FROM BENEFICIAL OWNER ACCOUNTS (BO ACCOUNTS) OF 156 CLIENTS WHO HAVE NOT EXECUTED SINGLE TRADE WITH THEM
TRANSFERRED NET AMOUNT RS.1096 CRORES TO ITS GROUP COMPANY I.E. KARVY REALTY PVT.LTD.
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
|
PROHIBITED FROM TAKING ANY NEW ASSIGNMENT AS A STOCK BROKER FROM 22-NOV-2019
DIRECTED NOT TO ACT UPON ANY INSTRUCTION GIVEN BY KSBL IN PURSUANCE OF POWER OF ATTORNEY GIVEN TO KSBL BY ITS CLIENTS
DIRECTED DEPOSITORIES TO MONITOR MOVEMENT OF SECURITIES INTO AND FROM DP ACCOUNT OF CLIENTS OF KSBL
DIRECTED NOT TO ALLOW TRANSFER OF SECURITIES FROM DP ACCOUNT
DIRECTED DEPOSITORIES AND STOCK EXCHANGES TO INITIATE APPROPRIATE DISCIPLINARY PROCEEDINGS FOR MISUSE OF CLIENTS’ FUNDS AND SECURITIES
22-NOV-2019
|
SEBI VIDE ITS ORDER DATED 29/11/2019 DISPOSED OFF THE REPRESENTATIONS DATED 24/11/2019, 25/11/2019 AND 26/11/2019 BY NOT ALLOWING KARVY TO USE POWER OF ATTORNEY
SAT: SAT VIDE ITS ORDER DATED 29/11/2019 DISPOSED OFF THE APPEAL AND DIRECTED WTM TO CONSIDER REQUEST OF THE APPELLANT AND PASS APPROPRIATE ORDER AFTER GIVING OPPORTUNITY OF HEARING BY 02/12/2019
SAT: SAT VIDE ITS ORDER DATED 03/12/2019 DISPOSED OFF THE APPEAL AND DIRECTED WTM OF SEBI TO HEAR THE APPELLANT ON THE BASIS OF THEIR REPRESENTATION DATED 23/11/2019 AND/OR ANY OTHER ADDITIONAL REPRESENTATION. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 04/12/2019 DISPOSED OFF THE APPEAL WITHOUT CHANGING THE DIRECTIONS AS PER EX-PARTE AD INTERIM ORDER DATED 06/12/2019. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 17/12/2019 DISPOSED OFF THE APPEAL AND DIRECTED APPELLANT TO FILE APPROPRIATE REPRESENTATION BEFORE SEBI. INTERIM STATUS QUO SHALL BE MAINTAINED IN RESPECT OF SECURITIES IN ACCOUNT NO.19502787 NAMED “KARVY STOCK BROKING LTD.-CLIENT ACCOUNT-NSE CM”. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 20/12/2019 DISPOSED OFF MISC. APPLICATION AND ORDER DATED 17/12/2019 MODIFIED TO THE EXTENT THAT SEBI WILL PASS APPROPRIATE ORDER ON REPRESENTATION OF THE APPELLANT ON OR BEFORE 15/01/2020
SEBI VIDE ITS ORDER DATED 14/01/2020 DIRECTED TO ISSUE FIVE DAYS NOTICE TO THE CLIENTS OR THE REPRESENTOR TO REDEEM THE PLEDGED SHARES BY MAKING PAYMENT OF THE CORRESPONDING OUTSTANDING INDEBTEDNESS, FAILING WHICH REPRESENTOR BE PERMITTED TO INVOKE THE PLEDGE ON SHARES
SAT: APPEAL DISMISSED
SEBI VIDE ITS ORDER DATED 24/11/2020 A) CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS EX-PARTE AD INTERIM ORDER DATED 22/11/2019 B) FURTHER DIRECTED KARVY NOT TO ALIENATE ANY OF ITS ASSETS, EXCEPT WITH PRIOR PERMISSION OF NSE TILL SETTLEMENT OF CLAIMS OF INVESTORS OR UNDER DIRECTION OR ORDER BY ANY COURT OR TRIBUNAL
SAT: SAT VIDE ITS ORDER DATED 09/12/2020 ALLOWED THREE WEEKS TIME TO RESPONDENT TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 23/04/2021 DISMISSED THE APPEAL
SAT: SAT VIDE ITS ORDER DATED 08/06/2021 DIRECTED THE APPEAL TO COME UP ON 02/08/2021 FOR FINAL DISPOSAL
SAT: SAT VIDE ITS ORDER DATED 05/10/2021 ALLOWED APPELLANT THREE WEEKS TIME TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 18/10/2021 HDFC BANK TO FILE REPLY WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND REJOINDER, IF ANY, MAY BE FILE WITHIN A WEEK THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 24/03/2022 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
SAT: SAT VIDE ITS ORDER DATED 20/12/2023 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDERS DATED 03/12/2019 AND 14/01/2020. PERMITTED APPELLANT BANK AXIS BANK LTD. TO INVOKE THE SHARES PLEDGED IN ITS FAVOUR IN DEMAT ACCOUNT NO.19502787 IN ACCORDANCE WITH DEPOSITORIES ACT READ WITH DP REGULATIONS. DIRECTED SEBI, NSE AND NSDL TO RESTORE THE PLEDGE WHICH WAS MADE IN FAVOUR OF THE APPELLANTS WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. IN THE ALTERNATIVE SEBI, NSE AND NSDL DIRECTED TO COMPENSATE THE APPELLANTS WITH THE VALUE OF UNDERLINED SECURITIES PLEDGED IN THEIR FAVOUR ALONG WITH INTEREST @10% P.A. WITHIN SAME PERIOD. PARTIES TO BEAR THEIR OWN COSTS
SAT: SAT VIDE ITS ORDER DATED 12/01/2024 CLARIFIED THAT FOUR WEEKS FROM DATE OF THIS ORDER WERE AVAILABLE BOTH TO APPELLANT AXIS BANK AND TO SEBI, NSE AND NSDL TO IMPLEMENT THE DIRECTIONS GIVEN BY THIS TRIBUNAL IN ITS ORDER DATED 20/12/2023
|
| 42 |
|
|
KASSA FINVEST PVT.LTD.
(CIN:U74899DL1994PTC060668
PAN:AAACK1206B)
(Member : BSE/NSE/MCX/OTC)
|
|
|
|
ANJANA KUMAR
PAN:AHOPK6281C
|
|
|
ASHOK KUMAR
DIN:00405986
PAN:AAFPK7362N
|
|
|
UMASHANKAR SHARAN SHRIVASTAV
PAN:AGKPS7923C
|
|
DID NOT CO-OPERATE WITH SEBI IN INSPECTION
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
INDULGED IN MANIPULATIVE ACTIVITIES AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 7 READ WITH CLAUSES A (3) AND A (5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 05-SEP-2017 TO 04-SEP-2027
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 05-SEP-2017 TO 04-SEP-2027
CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 05-SEP-2017 TO 04-SEP-2027
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 PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY
DIRECTED TO REPAY/REFUND TO INVESTORS / CLIENTS MONEY WITH INTEREST @15% P.A. FROM THE DATE OF REPAYMENT DUE TILL THE DATE OF ACTUAL PAYMENT
19-MAR-2015
|
SEBI VIDE ITS ORDER DATED 05/09/2017 DIRECTED TO 1) PROHIBITED FROM ACCESSING THE SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR DEALING IN SECURITIES, EITHER DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER WHATSOEVER, FOR A PERIOD OF TEN YEARS FROM THE DATE OF THIS ORDER 2) REPAY/REFUND THE INVESTORS/CLIENT’S MONEY WITH AN INTEREST OF 15% P.A. FROM THE DATE WHEN THE REPAYMENT BECAME DUE TILL THE DATE OF ACTUAL PAYMENT. THE PAYMENTS TO THE INVESTORS/CLIENTS IN RESPECT OF THE TRANSACTIONS EXECUTED THROUGH STOCK EXCHANGES SHALL BE MADE IN-COORDINATION WITH NSE AND BSE, AFTER TAKING INTO ACCOUNT THE PAYMENTS MADE BY SAID EXCHANGES TO THE INVESTORS/CLIENTS OF KASSA FINVEST OUT OF THE IPF ACCOUNT OF THE EXCHANGES 3) NOT TO DISPOSE OFF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE, OR CREATE ANY INTEREST OR CHARGE IN ANY SUCH ASSETS. PERMITTED TO SELL THEIR ASSETS FOR THE SOLE PURPOSE OF MAKING REPAYMENTS TO INVESTORS AND DEPOSIT THE PROCEEDS IN AN ESCROW ACCOUNT OPNED WITH A NATIONALIZED BANK. MONEY DEPOSITED IN THE ESCROW ACCOUNT HAS TO BE DISBURSED TO THE CLIENTS/INVESTORS ONLY IN COORDINATION WITH NSE AND BSE. UPTO THE EXTENT OF TOTAL MONEY DISBURSED BY THE EXCHANGES OUT OF THEIR IPF ACCOUNTS TO THE CLIENTS/INVESTORS OF KASSA FINVEST 5) DIRECTED TO PROVIDE FULL INVENTORY OF ALL THEIR ASSETS AND PROPERTIES AND DETAILS OF THEIR BANK ACCOUNTS, DEMAT ACCOUNTS AND HOLDINGS OF SHARES/SECURITIES, IF HELD IN PHYSICAL SHARES
SEBI VIDE ITS NOTICE DATED 14/01/2019 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
SEBI VIDE ITS ORDER DATED 12/02/2020 REVISED ITS NOTICE OF DEMAND 18/12/2018 AND DIRECTED TO RECOVER RS.98,26,50,507.60 TOWARDS REPAYMENT/REFUND OF INVESTORS/CLIENT’S MONEY ALONGWITH INTEREST, ALL COSTS, CHARGES AND EXPENSES INCURRED IN RESPECT OF ALL THE PROCEEDINGS
SEBI VIDE ITS ORDER DATED 28/06/2021 A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CHARGING IN RESPECT OF ALL THE IMMOVABLE 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, DULY CERTIFIED BY BOARD OF DIRECTORS ALONG WITH ORIGINAL TITLE DEEDS WITHIN TWO WEEKS FROM DATE OF THIS ORDER AT SEBI, NORTHERN REGIONAL OFFICE, NEW DELHI 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
SEBI VIDE ITS NOTICE DATED 05/01/2026 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.98,26,50,507.60 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG
SEBI VIDE ITS ORDER DATED 12/06/2026 A) PROHIBITED FROM DISPOSING, TRANSFERRING, ALIENATING OR CHARGING IN RESPECT OF ALL THE IMMOVABLE 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 TITLE DEEDS WITHIN TWO WEEKS FROM DATE OF THIS ORDER AT SEBI, NORTHERN REGIONAL OFFICE, NEW DELHI 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
|
| 43 |
|
|
KEYNOTE CAPITALS LTD.
(CIN:U67120MH1995PLC088172
PAN:AAACK2618R)
(Member : BSE/NSE)
|
|
|
ALLEGED ACCEPTANCE OF THIRD PARTY CHEQUE TOWARDS BROKERAGE VIOLATING SEBI CIRCULAR NO. SEBI/MRD/SE/CIR-33/2003/27/08 DATED 27/08/2003
ALLEGED FAILURE IN SETTLEMENT OF CROSS DEAL ON T+2 BASIS VIOLATING SEBI CIRCULAR NO. SMD/POLICY/CIR-06/03 DATED 06/02/2003
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.5,00,000 VIDE CONSENT ORDER)
16-FEB-2017
|
|
| 44 |
|
|
KEYNOTE CAPITALS LTD.
(CIN:U67120MH1995PLC088172
PAN:AAACK2618R)
(Member : BSE/NSE)
|
|
|
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING CLAUSES A(1), A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 9(F) OF SEBI (STOCK BROKERS) REGULATIONS, 1992
TRANSFERRED FUNDS FROM NSE/BSE CLIENT ACCOUNTS TO OD A/C AND FURTHER FROM OD A/C TO THE CLIENTS ACCOUNTS VIOLATING SEBI CIRCULAR DATED 18/11/1993
|
IMPOSED PENALTY RS.5,00,000
18-DEC-2014
|
|
| 45 |
|
|
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
|
|
| 46 |
|
|
MANASHVI SECURITIES LTD.
(PAN:AAACM8224D)
(Member : BSE/NSE)
|
|
|
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 9(F) READ WITH CLAUSES A(1),A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.4,00,000
30-MAY-2019
|
|
| 47 |
|
|
MANGAL KESHAV FINANCIAL SERVICES LLP
(PAN:ABIFM3412H)
(Member : BSE/NSE)
|
|
|
DID NOT OBTAIN DECLARATION FORMS WHILE MAKING MODIFICATIONS IN KYC DETAILS FOR ESTABLISHING RELATIONSHIP BEFORE REGISTRATION
DID NOT PROVIDE CONSENT LETTERS TO ESTABLISH A RELATIONSHIP FOR THE USE OF A COMMON MOBILE NUMBER/EMAIL ID
UPLOADED COMMON EMAIL IDS/MOBILE NUMBER OF AUTHORISED PERSON FOR MORE THAN ONE CLIENT
DID NOT SEND ELECTRONIC CONTRACT NOTES TO ULTIMATE CLIENTS
DID NOT DELIVER PHYSICAL CONTRACT NOTES TO CLIENTS
DID NOT UPDATE BANK ACCOUNT NUMBER IN UCC DATABASE
DID NOT UPDATE DEMAT ACCOUNT NUMBER IN UCC DATABASE
DID NOT CARRY OUT DUE DILIGENCE WHILE CAPTURING RELATIONSHIP DATA FROM KYC
|
IMPOSED PENALTY RS.2,50,000
09-JUL-2025
|
|
| 48 |
|
|
MANUBHAI MANGALDAS SECURITIES PVT.LTD.
(PAN:AAACM8035G)
(Member : NSE/BSE)
|
|
|
DID NOT ADHERE TO SEBI CIRCULAR DATED 03/12/2009 AND DATED 31/03/2010
DID NOT MAINTAIN INTEGRITY, PROMPTITUDE & FAIRNESS, DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING CLAUSES A(1), A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATIONS 9(F), 21(1) AND 21(4) OF SEBI (STOCK BROKERS) REGULATIONS, 1992
|
IMPOSED PENALTY RS.5,00,000
28-SEP-2015
|
|
| 49 |
|
|
MASTER CAPITAL SERVICES LTD.
(PAN:AABCM1406A)
(Member : BSE/NSE/OTC/LSE)
|
|
|
ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 9(F) READ WITH CLAUSES A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS) REGULATIONS, 1992
ALLEGED VIOLATION OF SEBI CIRCULARS NO.MRD/DOP/SE/CIR-20/2005 DATED 08/09/2005 AND MIRSD/SE/CIR-19/2009 DATED 03/12/2009
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.7,65,000 VIDE CONSENT ORDER)
06-SEP-2017
|
|
| 50 |
|
|
MASTER CAPITAL SERVICES LTD.
(PAN:AABCM1406A)
(Member : NSE)
|
|
|
DID NOT CONDUCT ANY INSPECTION OF ITS AUTHORIZED PERSON VIOLATING SEBI CIRCULAR NO MIRSD/DR-1/CIR-16/09 DATED 06/11/2009
|
IMPOSED PENALTY RS.2,00,000
29-JAN-2021
|
SAT: SAT VIDE ITS ORDER DATED 12/05/2021 ALLOWED RESPONDENT THREE WEEKS TIME TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. DIRECTED APPELLANT TO DEPOSIT PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 07/12/2021 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
SAT: SAT VIDE ITS ORDER DATED 12/01/2022 ALLOWED THE APPLICATION AND RECALLED THE ORDER DATED 07/12/2021
SAT: SAT VIDE ITS ORDER DATED 28/07/2022 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
SAT: SAT VIDE ITS ORDER DATED 14/10/2022 ALLOWED APPLICATION TO RECALL IMPUGNED ORDER DATED 07/12/2021
SAT: SAT VIDE ITS ORDER DATED 02/03/2023 ALLOWED THE APPEAL AND QUASHED IMPUGNED ORDER DATED 29/01/2021
|
| 51 |
|
|
MONARCH NETWORTH CAPITAL LTD.
(PAN:AAACN1184F)
(Member : BSE/NSE/MCX)
|
|
|
DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING CLAUSES A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II READ WITH REGULATION 7 OF SEBI (STOCK BROKERS) REGULATIONS, 1992 (AFTER AMENDMENT, REGULATION 9(F) OF SEBI (STOCK BROKERS AND SUB BROERS) (SECOND AMENDMENT) REGULATIONS, 2013
DID NOT ADHERE TO SEBI CIRCULAR MIRSD/SE/CIR-19/2009 DATED 03/12/2009
|
IMPOSED PENALTY RS.5,00,000
31-AUG-2016
|
|
| 52 |
|
|
MOONGIPA INVESTMENTS LTD.
(CIN:U74899DL1994PLC059535
PAN:AAACM5584A)
(Member : NSE/BSE)
|
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|
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MADHUR AGARWAL
PAN:AAFPA1251Q
|
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SHIV KUMAR AGARWAL
PAN:AAFPA1252P
|
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|
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
|
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
|
| 53 |
|
|
MOTILAL OSWAL FINANCIAL SERVICES LTD.
(PAN:AAECM2876P)
(Member : BSE/NSE)
|
|
|
DID NOT EXERCISE SUPERVISORY RESPONSIBILITIES AS STOCK BROKER AND EXHIBITED LAPSES IN OVERSEEING ACTIVITIES OF AUTHORIZED PERSON AND MAC CONSULTANCY SERVICE
|
IMPOSED PENALTY RS.5,00,000
19-MAR-2025
|
|
| 54 |
|
|
MOTILAL OSWAL FINANCIAL SERVICES LTD.
(PAN:AAECM2876P)
(Member : BSE/NSE)
|
|
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DID NOT SETTLE RUNNING ACCOUNTS OF ACTIVE AND/OR INACTIVE CLIENTS
DELAY IN REPORTING/SUBMISSION OF ROOT CAUSE ANALYSIS (RCA) OF INCIDENT BY ONE DAY
DID NOT DEPLOY ADEQUATE MECHANISM TO GET TIMELY ALERTS ON CAPACITY UTILIZATION OF SYSTEMS WHEN IT GOES BEYOND 70% OF INSTALLED CAPACITY
DISCREPANCY IN CALCULATION OF PEAK LOAD
DID NOT CONDUCT LIVE TRADING FROM DR SITE
ALLOWED TERMINAL TO UNAUTHORISED USERS
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IMPOSED PENALTY RS.11,00,000
12-AUG-2025
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| 55 |
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MPSE SECURITIES LTD.
(PAN:AADCM6438L)
(Depository Participants : CDSL,Member : NSE/BSE)
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ALLEGED FAILURE IN ENTERING INTO AGREEMENT WITH CLIENT AS REQUIRED UNDER CLAUSE D (2) OF CODE OF CONDUCT FOR BROKERS AS SPECIFIED UNDER REGULATION 7 OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992
ALLEGED NON MAINTENANCE OF AGREEMENT AS REQUIRED UNDER CLAUSE 1(N) OF REGULATION 17 OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992
ALLEGED DEFAULT IN MAINTAINING TRIPARTILE AGREEMENT BETWEEN BROKER-SUB BROKER AND CLIENTS AS REQUIRED VIDE SEBI CIRCULAR NO.SEBI/MRD/DOPS/CIR-11/2005 DATED 12/05/2005
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REACHED SETTLEMENT (SETTLEMENT CHARGES RS.1,25,000, ADMINISTRATION CHARGES RS.25,000 VIDE CONSENT ORDER)
15-JUN-2009
|
|
| 56 |
|
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MSS SECURITIES PVT.LTD.
(PAN:AABCM4849D)
(Member : BSE)
|
|
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DID NOT EXECUTE TRANSACTION DATED 11/09/2000 ON SCREENS OF EXCHANGES IN PRICE AND ORDER MATCHING MECHANISM VIOLATING SEBI CIRCULAR SMDRP/POLICY/CIR-32/99 DATED 14/09/1999
DELAY IN MAKING PAYMENT TO CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
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WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
DIRECTED TO ADOPT DUE DILIGENT MEASURES SUCH AS CHECKS AND BALANCES IN TERMS OF ADEQUATE SYSTEMS AND PROCEDURES IN ITS OPERATIONS TO AVOID ANY REGULATORY LAPSE
21-MAY-2021
|
|
| 57 |
|
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NARAYAN SECURITIES LTD.
(PAN:AAACN2728F)
(Member : MSEI,Depository Participants : CDSL)
|
|
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MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
|
IMPOSED PENALTY RS.50,00,000
21-OCT-2020
|
SEBI VIDE ITS NOTICE DATED 27/08/2021 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
SEBI VIDE ITS ORDER DATED 03/09/2021 DIRECTED ALL THE BANKS TO REMIT ENTIRE AMOUNT TO THE EXTENT LYING IN THE BANK AND TERM DEPOSIT ACCOUNTS OF NARAYAN SECURITIES LTD. TO SEBI BY WAY OF EFT/NEFT/RTGS
SAT: SAT VIDE ITS ORDER DATED 12/08/2021 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
SAT: SAT VIDE ITS ORDER DATED 01/09/2021 ALLOWED THE APPLICATION AND RECALLED THE ORDER DATED 12/08/2021
SAT: SAT VIDE ITS ORDER DATED 22/09/2021 DIRECTED APPELLANT TO DEPOSIT ENTIRE AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 18/10/2021 DIRECTED TO FILE APPROPRIATE AMENDED MEMO OF APPEAL ALONG WITH ALL ANNEXURES ETC. WITHIN TWO WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 16/11/2021 CONDONED DELAY IN FILING OF APPEAL AND ALLOWED APPLICATION
SAT: SAT VIDE ITS ORDER DATED 06/01/2026 MENTIONED IN ITS ORDER THAT REVIEW APPLICATION WILL BE DISPOSED OF WITHIN FOUR WEEKS FROM DATE OF THIS ORDER AS PER SUBMISSION OF ADVOCATE FOR NSEIL
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| 58 |
|
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PRIME BROKING CO.(INDIA) LTD.
(PAN:AAACP3113C)
(Member : BSE/NSE/MCX)
|
|
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DID NOT FURNISH EXTRACTS FROM REGISTER OF SECURITIES DISPLAYING ALL RECEIPTS/DELIVERIES OF SECURITIES AND EXPLANATION FOR RETENTION OF SECURITIES TO CLIENTS VIOLATING OF SEBI CIRCULAR DATED 03/12/2009
DID NOT FURNISH EXTRACTS FROM REGISTER OF SECURITIES DISPLAYING ALL RECEIPTS/DELIVERIES OF SECURITIES AND EXPLANATION FOR RETENTION OF SECURITIES TO CLIENTS VIOLATING CLAUSES A(2) AND A(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS) REGULATIONS, 1992 IN MATTER OF AANJANEYA LIFECARE LTD. (NOW KNOWN AS DR.DATSONS LABS LTD.)
|
IMPOSED PENALTY RS.3,00,000
13-JUL-2017
|
|
| 59 |
|
|
R K GLOBAL SHARES & SECURITIES LTD.
(PAN:AAACR5786P)
(Member : NSE)
|
|
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DELAY IN UPLOADING CLIENT KYC DOCUMENTS VIOLATING SEBI CIRCULAR NO.MIRSD/CIR-5/2012 DATED 13/04/2012
|
IMPOSED PENALTY RS.2,00,000
29-DEC-2017
|
|
| 60 |
|
|
R K GLOBAL SHARES & SECURITIES LTD.
(PAN:AAACR5786P)
(Member : BSE)
|
|
|
DELAY IN UPLOADING CLIENT KYC DOCUMENTS VIOLATING SEBI CIRCULAR NO.MIRSD/CIR-5/2012 DATED 13/04/2012
|
IMPOSED PENALTY RS.2,00,000
28-DEC-2017
|
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