| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
FRR SHARES & SECURITIES LTD.
(PAN:AABCF5477E)
(Depository Participants : CDSL,Member : NSE/BSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
PROVIDED WRONG NOMENCLATURE OF ACCOUNTS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
MAPPED SINGLE EMAIL ID AND MOBILE NUMBER FOR MULTIPLE CLIENTS
REPORTED WRONG NET WORTH TO EXCHANGE
DID NOT PROVIDE CORRECT DATA TO STOCK EXCHANGE UNDER RISK-BASED SUPERVISION
ALLOTTED MULTIPLE LOGIN IDS TO SINGLE DEALERS
|
IMPOSED PENALTY RS.5,00,000
23-JUN-2022
|
|
| 42 |
|
|
GUINESS SECURITIES LTD.
(PAN:AAACG9843L)
(Depository Participants : CDSL/NSDL,Member : NSE/BSE/MSEI)
|
|
|
|
KAMAL KUMAR KOTHARI
PAN:AKYPK8782D
|
|
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
DID NOT MAINTAIN CONTINUOUS NETWORTH
FALSIFIED BOOKS AND WRONGLY REPORTED TO STOCK EXCHANGE
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
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 19-DEC-2018 TO 18-DEC-2025
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 19-DEC-2018 TO 18-DEC-2025
DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 19-DEC-2018 TO 18-DEC-2025
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, 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 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
DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS
DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY
19-DEC-2018
|
SEBI VIDE ITS ORDER DATED 31/07/2019 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS EX-PARTE AD INTERIM ORDER DATED 19/12/2018
SAT: SAT VIDE ITS ORDER DATED 27/04/2021 DISPOSED OFF THE APPEALS WITH DIRECTION TO APPLELLANT TO PURSUE CLAIM APPLICATION FILED BEFORE STOCK EXCHANGES WHICH WAS PENDING CONSIDERATION
SAT: SAT VIDE ITS ORDER DATED 14/09/2021 DISMISSED THE APPEAL FOR WANT OF PROSECUTION
SAT: SAT VIDE ITS ORDER DATED 07/10/2021 ALLOWED THE APPLICATION AND RECALLED ORDER DATED 27/04/2021
SEBI VIDE ITS ORDER DATED 30/06/2022 DIRECTED TO A) RESTRAINED FROM ACCESSING THE SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY AND ASSOCIATING THEMSELVES WITH SECURITIES MARKET IN ANY MANNER FOR SEVEN YEARS B) DURING THE PERIOD OF RESTRAINT THE EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS SHALL REMAIN FROZEN C) NOT TO DISPOSE OFF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY SUCH ASSETS INCLUDING MONEY LYING IN BANK ACCOUNT EXCEPT WITH PRIOR PERMISSION OF SEBI D) PROVIDE FULL INVENTORY OF ALL ASSETS AND PROPERTIES AND DETAILS OF ALL THEIR BANK ACCOUNTS, DEMAT ACCOUNTS AND MUTUAL FUND INVESTMENTS AS WELL AS DETAILS OF ANY LOANS OR ADVANCE, RECOVERABLE BY THEM AS ON THE DATE OF THIS ORDER E) DIRECTED TO FULLY CO-OPERATE WITH STOCK EXCHANGES IN ENSURING THE DIRECTION INCLUDING IN LIQUIDATING THE FUNDS, SECURITIES, CHARGE, RECOVERABLE DUES, ADVANCES AND OTHER MOVABLE AND IMMOVABLE ASSETS F) BANKS TO ENSURE THAT NO DEBITS ARE MADE IN THE BANK ACCOUNTS HELD JOINTLY OR SEVERALLY BY NOTICEES
SAT: SAT VIDE ITS ORDER DATED 19/09/2022 REJECTED THE APPLICATION
SAT: SAT VIDE ITS ORDER DATED 25/09/2024 DISMISSED THE APPEAL. NO COSTS
|
| 43 |
|
|
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
|
| 44 |
|
|
GUINESS SECURITIES LTD.
(PAN:AAACG9843L)
(Depository Participants : NSDL,Member : BSE/NSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED MISUTILISATION OF CLIENTS FUNDS
ALLEGED FAILURE IN MAKING PAYMENTS OF CORPORATE BENEFITS TO CLIENTS WITHIN STIPULATED TIME
ALLEGED FAILURE IN REDRESSAL OF INVESTOR COMPLAINTS IN STIPULATED PERIOD
ALLEGED CHARGING OF HIGHER BROKERAGE FROM CLIENTS TOWARDS PURCHASED AND SALE OF SHARES
ALLEGED INDULGENCE IN FUND-BASED ACTIVITIES BY LENDING AND BORROWING FUNDS FOR TRANACTIONS OF CLIENTS AND CHARGING INTEREST
ALLEGED NON-COLLECTION OF MARGINS FROM CLIENTS AND PERMITTED THEM TO TRADE WITHOUT SUFFICIENT CASH BALANCE
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 VIDE CONSENT ORDER)
02-AUG-2011
|
|
| 45 |
|
|
GUINESS SECURITIES LTD.
(PAN:AAACG9843L)
(Member : BSE/NSE,Depository Participants : CDSL/NSDL)
|
|
|
MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS
DIVERTED PROCEEDS FROM MISAPPROPRIATION OF SECURITIES TO RELATED PARTIES
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
INDULGED IN FALSIFICATION OF ACCOUNTS AND RECORDS
DID NOT SETTLE CLIENT’S FUNDS AND/OR SECURITIES
FUNDED CLIENTS HAVING DEBIT BALANCES BY PROVIDING FURTHER EXPOSURE
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT FURNISH REQUISITE INFORMATION TO SEBI
|
CANCELLED REGISTRATION AS DEPOSITORY PARTICIPANT
CANCELLED REGISTRATION AS STOCK BROKER FROM 07-SEP-2023
07-SEP-2023
|
|
| 46 |
|
|
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
|
|
| 47 |
|
|
IIFL SECURITIES LTD.
(PAN:AAACI7397D)
(Depository Participants : CDSL/NSDL,Member : BSE/NSE/MCX)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUTILIZED CLIENTS FUNDS FOR DEBIT OBLIGATION OF OWN/OTHER CLIENTS
DID NOT DESIGNATE CLIENT BANK ACCOUNTS AS “CLIENT ACCOUNT"
|
RESTRAINED FROM TAKING UP/ONBOARDING ANY NEW CLIENTS FROM 19-JUN-2023 TO 18-JUN-2025
19-JUN-2023
|
SAT: SAT VIDE ITS ORDER DATED 07/12/2023 PARTLY ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 19/06/2023
|
| 48 |
|
|
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
|
|
| 49 |
|
|
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
|
|
| 50 |
|
|
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
|
|
| 51 |
|
|
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
|
|
| 52 |
|
|
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
|
| 53 |
|
|
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
|
| 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 |
|
|
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
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MODEX INTERNATIONAL SECURITIES LTD.
(CIN:L74899DL1995PLC065153
PAN:AAACM2105K)
(Depository Participants : CDSL,Member : BSE/NSE)
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AJAY JAIN
PAN:AGXPJ1124B
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DHARMENDRA KUMAR ARORA
PAN:ABEPA0955B
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PARMINDER SINGH KINDRA
PAN:AAIPK2244G
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PAVAN KUMAR SACHDEVA
PAN:AAZPS4975R
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SANJAY MOHAN UNIYAL
PAN:AACPU2128H
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SARIKA CHAWLA
PAN:AFVPC0852J
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SHARDA GUPTA
PAN:AAKPG7214J
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SURESH AGARWAL
PAN:CKAPA4494A
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VIKRAM DUGGAL
PAN:AHTPD5588N
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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
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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 30-APR-2020 TILL FURTHER ORDERS
DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 30-APR-2020 TILL FURTHER ORDERS
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
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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
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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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MOTILAL OSWAL FINANCIAL SERVICES LTD.
(PAN:AAECM2876P)
(Depository Participants : NSDL,Member : NSE/BSE)
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MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
INCORRECT REPORTING OF MARGIN TO STOCK EXCHANGES
PROVIDED EXPOSURE TO CLIENTS HAVING DEBIT BALANCE
DISCREPANCIES IN CLIENT REGISTRATION PROCESS (KYC, KRA AND CKYCR PROCESS)
DID NOT MAINTAIN EVIDENCE/PRE TRADE AUTHORIZATION/CONFIRMATION IN RESPECT OF ORDERS PLACED BY CLIENTS
MADE INCORRECT AND/OR DID NOT REPORT ENHANCED SUPERVISION OF DATA TO STOCK EXCHANGES
SHORT COLLECTION OF MARGIN FROM CLIENTS IN DERIVATIVE SEGMENT
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IMPOSED PENALTY RS.25,00,000
29-APR-2022
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NARAYAN SECURITIES LTD.
(PAN:AAACN2728F)
(Depository Participants : CDSL,Member : MSEI)
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MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT ADHERE TO VARIOUS SEBI CIRCULARS
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IMPOSED PENALTY RS.50,00,000
21-OCT-2020
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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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