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SOURCE OF INFORMATION

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 : 11-JUL-2025

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.

STOCK BROKERS: NOT A FIT AND PROPER PERSON

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
81
History of entity/person K R CHOKSEY COMMODITY BROKERS PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 18-FEB-2022

18-FEB-2022 		SAT: SAT VIDE ITS ORDER DATED 11/04/2022 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. DIRECTED THAT EFFECT AND OPERATION OF IMPUGNED ORDER TO REMAIN STAYED DURING PENDENCY OF THE APPEAL

SAT: SAT: SAT VIDE ITS ORDER DATED 20/07/2022 ALLOWED THE APPEAL INCLUDING NSEL ALSO AND QUASHED IMPUGNED ORDER DATED 09/06/2022. MATTER REMITTED TO WTM TO DECIDE AFRESH  
82
History of entity/person KARDAM FINANCIAL SERVICES PVT.LTD.

(Member : COCSE)  
  DID NOT PAY TURNOVER FEE

FOUND TO BE A BENAMI COMPANY OF HOFFLAND GROUP WHICH DEFAULTED IN MAKING PAYMENTS TO VARIOUS INVESTORS   		CANCELLED REGISTRATION AS STOCK BROKER FROM 29-MAR-2011

08-MAR-2011 		 
83
History of entity/person KARVY COMTRADE LTD.

(PAN:AACCK3403A)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 31-AUG-2023

31-AUG-2023 		 
84
History of entity/person KEDIA CAPITAL SERVICES PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   PROHIBITED FROM TAKING ANY NEW ASSIGNMENT AS A STOCK BROKER FROM 20-OCT-2023 TO 19-JAN-2024

20-OCT-2023 		SAT: SAT VIDE ITS ORDER DATED 18/10/2023 CONDONED THE DELAY IN FILING OF APPEAL. RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 06/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER AS IT RELATES TO APPELLANT TILL NEXT DATE OF LISTING  
85
History of entity/person KK COMTRADE PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-DEC-2023 TO 06-MAR-2024

07-DEC-2023 		 
86
History of entity/person KOTAK COMMODITY SERVICES PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   DIRECTED NOT TO TAKE NEW CLIENTS AS STOCK BROKER FROM 22-DEC-2023 TO 05-JAN-2024

RESTRAINED FROM EXECUTING TRADES IN PROPRIETARY ACCOUNT FROM 22-DEC-2023 TO 05-JAN-2024

22-DEC-2023 		SAT: SAT VIDE ITS ORDER DATED 16/02/2024 STAYED EFFECT AND OPERATION OF IMPUGNED ORDER TILL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 12/07/2024 GRANTED EXTENSION OF SIX MONTHS TO COMPLETE THE ENTIRE PROCEEDINGS AND COME OUT WITH A SCHEME UNDER THE SETTLEMENT REGULATIONS  
87
History of entity/person LATIN MANHARLAL COMMODITIES PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 30-OCT-2023

30-OCT-2023 		SAT: SAT VIDE ITS ORDER DATED 06/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER AS IT RELATES TO APPELLANT TILL NEXT DATE OF LISTING

SAT: SAT VIDE ITS ORDER DATED 12/12/2023 DISPOSED OF THE GROUP OF APPEALS BY DIRECTING SEBI TO CONSIDER AND COME OUT WITH A SCHEME UNDER SETTLEMENT REGULATIONS PREFERABLY WITHIN THREE MONTHS FROM DATE OF THIS ORDER. IN THE EVENT, SCHEME NOT FRAMED UNDER SETTLEMENT REGULATIONS BY SEBI THEN SAID DECISION TO BE COMMUNICATED TO ALL APPELLANTS  
88
History of entity/person LEAPROFIN SECURITIES LTD.

(Member : OTC)  
  DID NOT PAY TURNOVER FEE

FOUND TO BE A BENAMI COMPANY OF HOFFLAND GROUP WHICH DEFAULTED IN MAKING PAYMENTS TO VARIOUS INVESTORS   		CANCELLED REGISTRATION AS STOCK BROKER FROM 29-MAR-2011

08-MAR-2011 		 
89
History of entity/person LEO GLOBAL COMMODITIES PVT.LTD.

(PAN:AAACL6967A)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 20-JUL-2023

20-JUL-2023 		SAT: SAT VIDE ITS ORDER DATED 05/09/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE. STAYED EFFECT AND OPERATION OF IMPUGNED ORDER

SAT: SAT VIDE ITS ORDER DATED 30/10/2023 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER  
90
History of entity/person LUDHIANA COMMODITIES TRADING SERVICES LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-NOV-2023 TO 16-FEB-2024

17-NOV-2023 		SAT: SAT VIDE ITS ORDER DATED 12/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER

SAT: SAT VIDE ITS ORDER DATED 14/03/2024 ALLOWED EXTENSION OF FOUR MONTHS W.E.F.11/03/2024 FOR COMING OUT WITH A SCHEME UNDER SEBI (SETTLEMENT PROCEEDINGS) REGULATIONS, 2018 AS DIRECTED BY THIS TRIBUNAL VIDE ORDER DATED 12/12/2023  
91
History of entity/person MARWADI COMMODITY BROKER PVT.LTD.

(PAN:AADCM0610J)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO ACT AS STOCK BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 31-JAN-2023

31-JAN-2023 		SAT: SAT VIDE ITS ORDER DATED 03/05/2023 CONDONED THE DELAY IN FILING OF APPEAL. IN THE MEANWHILE, RESPONDENT TO FILE REPLY ON OR BEFORE NEXT DATE AND EFFECT AND OPERATION OF IMPUGNED ORDER TO REMAIN STAYED TILL NEXT DATE OF LISTING

SAT: SAT VIDE ITS ORDER DATED 18/05/2023 ALLOWED RESPONDENT FURTHER TWO WEEKS TO FILE REPLY AND REJOINDER TO BE FILED ON 21/06/2023. INTERIM RELIEF TO CONTINUE TILL FURTHER ORDERS  
92
History of entity/person MASTER COMMODITY SERVICES LTD.

(PAN:AAACE3600M)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-DEC-2023 TO 13-MAR-2024

14-DEC-2023 		SAT: SAT VIDE ITS ORDER DATED 20/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER

SAT: SAT VIDE ITS ORDER DATED 14/03/2024 ALLOWED EXTENSION OF FOUR MONTHS W.E.F.11/03/2024 FOR COMING OUT WITH A SCHEME UNDER SEBI (SETTLEMENT PROCEEDINGS) REGULATIONS, 2018 AS DIRECTED BY THIS TRIBUNAL VIDE ORDER DATED 12/12/2023  
93
History of entity/person MASTER MONEY COMMODITY BAZAR PVT.LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 31-OCT-2023 TO 30-JAN-2024

31-OCT-2023 		 
94
History of entity/person MATALIA COMMODITY

(PAN:AKEPM2003M)

(Member : NSEL)  
Click here to view complete history of this specific entity/person DIPAK C.MATALIA

PAN:AKEPM2003M
  		NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   REJECTED APPLICATION FOR REGISTRATION AS COMMODITY DERIVATIVES BROKER

DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION AS COMMODITY DERIVATIVE BROKER FROM 12-SEP-2023 TO 11-DEC-2023

12-SEP-2023 		SAT: SAT VIDE ITS ORDER DATED 06/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER AS IT RELATES TO APPELLANT TILL NEXT DATE OF LISTING

SAT: SAT VIDE ITS ORDER DATED 12/12/2023 DISPOSED OF THE GROUP OF APPEALS BY DIRECTING SEBI TO CONSIDER AND COME OUT WITH A SCHEME UNDER SETTLEMENT REGULATIONS PREFERABLY WITHIN THREE MONTHS FROM DATE OF THIS ORDER. IN THE EVENT, SCHEME NOT FRAMED UNDER SETTLEMENT REGULATIONS BY SEBI THEN SAID DECISION TO BE COMMUNICATED TO ALL APPELLANTS  
95
History of entity/person MAVJI HARIBHAI COMMODITIES

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-AUG-2023 TO 06-NOV-2023

07-AUG-2023 		 
96
History of entity/person MCI COMMODITIES

(PAN:AATFM4200F)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   REJECTED APPLICATION FOR REGISTRATION AS STOCK BROKER FOR DERIVATIVES MARKET

DEBARRED FROM MAKING FRESH APPLICATION SEEKING REGISTRATION AS COMMODITY DERIVATIVE BROKER FROM 04-OCT-2023 TO 03-JAN-2024

04-OCT-2023 		 
97
History of entity/person MILIND VIJAYBHAI THAKKAR,M/S

(Member : NSEL)  
Click here to view complete history of this specific entity/person MILIND VIJAYBHAI THAKKAR
  		NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   SUSPENDED REGISTRATION AS STOCK BROKER FROM 29-NOV-2023 TO 28-FEB-2024

29-NOV-2023 		 
98
History of entity/person MK COMMODITY BROKERS LTD.

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 06-SEP-2023

06-SEP-2023 		SAT: SAT VIDE ITS ORDER DATED 06/12/2023 STAYED THE EFFECT AND OPERATION OF IMPUGNED ORDER AS IT RELATES TO APPELLANT TILL NEXT DATE OF LISTING

SAT: SAT VIDE ITS ORDER DATED 12/12/2023 DISPOSED OF THE GROUP OF APPEALS BY DIRECTING SEBI TO CONSIDER AND COME OUT WITH A SCHEME UNDER SETTLEMENT REGULATIONS PREFERABLY WITHIN THREE MONTHS FROM DATE OF THIS ORDER. IN THE EVENT, SCHEME NOT FRAMED UNDER SETTLEMENT REGULATIONS BY SEBI THEN SAID DECISION TO BE COMMUNICATED TO ALL APPELLANTS  
99
History of entity/person MLB COMMODITIES PVT.LTD.

(PAN:AADCM5965C)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 27-JUL-2023

27-JUL-2023 		SAT: SAT VIDE ITS ORDER DATED 05/09/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN TWO WEEKS AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE. STAYED EFFECT AND OPERATION OF IMPUGNED ORDER TILL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 30/10/2023 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER  
100
History of entity/person MMTC LTD.

(PAN:AAACM1433E)

(Member : NSEL)  
  NOT A FIT & PROPER PERSON TO BE GRANTED REGISTRATION/TO OPERATE AS COMMODITY DERIVATIVES BROKER   CANCELLED REGISTRATION AS STOCK BROKER FROM 02-AUG-2023

02-AUG-2023 		SAT: SAT VIDE ITS ORDER DATED 14/02/2024 CONDONED THE DELAY OF 94 DAYS IN FILING OF APPEAL. ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND REJOINDER TO BE FILED THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 20/06/2024 STAYED THE IMPUGNED ORDER 02/08/2023  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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