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 : 02-MAR-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.

PERSONS: VIOLATED LISTING AGREEMENT

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

BALDEV BHAI RAMI

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GIRISH HOTEL,RESORTS & HEALTH FARM LTD.

DID NOT ADHERE TO LISTING AGREEMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 17-DEC-1999 TO 16-DEC-2004

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 17-DEC-1999 TO 16-DEC-2004

17-DEC-1999

BALKRISHNA G.BHANDARI

ADVANCE BIO-COAL (INDIA) LTD.

DID NOT ADHERE TO LISTING AGREEMENT

COMPANY WAS NOT LOCATED AT ITS REGISTERED OFFICE ADDRESS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 04-OCT-2000 TO 03-OCT-2005

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-OCT-2000 TO 03-OCT-2005

04-OCT-2000

BALLINDER SINGH DHILLON

(PAN:AAQPD3220K)

ALLEGED FAILURE IN ABIDING BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING CLAUSE 49(I)(D) OF LISTING AGREEMENT IN MATTER OF FORTIS HEALTHCARE LTD.

ALLEGED FAILURE IN ABIDING BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING SECTION 21 OF THE SCRA, 1956 IN MATTER OF FORTIS HEALTHCARE LTD.

ALLEGED FAILURE IN ABIDING BY PRINCIPLES GOVERNING DISCLOSURES AND OBLIGATIONS WITH RESPECT TO LISTED COMPANIES VIOLATING CLAUSES 49(I)(D)(1)(B), 49(I)(D)(2)(F), 49(I)(D)(3)(C),(F),(G),(I),(L) AND 49(II)(E)(2) OF LISTING AGREEMENT READ WITH REGULATION 103 OF SEBI (LODR) REGULATIONS, 2015 AND REGULATIONS 4(2)(F)(I)(2), 4(2)(F)(II)(6), 4(2)(F)(III)(1)(3), (6), (7), (9), (12) AND 26(3) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF FORTIS HEALTHCARE LTD.

ALLEGED FAILURE IN CARRYING OUT DUE DILIGENCE AND EXERCISE INDEPENDENT JUDGEMENT WITH RESPECT TO GRANT OF LOANS/INVESTMENTS TO 3 BORROWER COMPANIES VIOLATING SECTION 12A(A) TO 12A(C) OF SEBI ACT, 1992

ALLEGED INDULGENCE IN MISUSE AND DIVERSION OF PUBLIC SHAREHOLDERS FUNDS THROUGH 3 BORROWER COMPANIES FOR BENEFIT OF RHC HOLDING LTD. AND CONSEQUENTLY MR.MALVINDER MOHAN SINGH AND MR.SHIVINDER MOHAN SINGH VIOLATING REGULATIONS 3(B) TO 3(D) AND 4(1) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF FORTIS HEALTHCARE LTD.

REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.93,50,000 VIDE CONSENT ORDER)

31-JAN-2022

BERJIS DESAI

EFCON SECURITIES LTD.

DID NOT ADHERE TO LISTING AGREEMENT

BHADRESH DESAI

SHIVAM APPERALS EXPORT LTD.

DID NOT ADHERE TO LISTING AGREEMENT

COMPANY WAS NOT LOCATED AT ITS REGISTERED OFFICE ADDRESS

BHAGWATI PRASAD KANODIA

SHREE VAISHNAVI DYEING & PRINTINGS LTD.

DECLARED AS A VANISHING COMPANY

DID NOT ADHERE TO LISTING AGREEMENT

VIOLATED SEBI (CENTRAL LISTING AUTHORITY) REGULATIONS, 2003

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 18-OCT-2007 TO 17-OCT-2012

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 18-OCT-2007 TO 17-OCT-2012

PROHIBITED PUBLIC COMPANIES IN WHICH THIS DIRECTOR HAS CONTROLLING/SUBSTANTIAL INTEREST TO RAISE FUNDS FROM CAPITAL MARKET FROM 18-OCT-2007 TO 17-OCT-2012

18-OCT-2007

BHAGWATI SHAH (AKA. M.P.SHAH)

SOMPLAST LEATHER INDUSTRIES LTD.

PAN:AADCS0254L

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

DID NOT ADHERE TO SUMMONS ISSUED BY SEBI

ISSUED EQUITY SHARES IN EXCESS ON PREFERENTIAL BASIS WITHOUT TAKING IN-PRINCIPLE APPROVAL OF STOCK EXCHANGE

IMPOSED PENALTY RS.2,00,000

30-SEP-2005

INCLUDED IN SEBI LIST DATED 31/12/2017, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

BHANWAR LAL NOWALKHA

SURAJ STONE CORP.LTD.

CIN:L14106KA1992PLC012988
PAN:AACCS9674F

DID NOT ADHERE TO LISTING AGREEMENT

COMPANY WAS NOT LOCATED AT ITS REGISTERED OFFICE ADDRESS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 03-FEB-2000 TO 02-FEB-2005

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 03-FEB-2000 TO 02-FEB-2005

03-FEB-2000

BHAVESH NANALAL JAVERI

SPARKLE FOODS LTD.

CIN:U99999MH1986PLC040529

DID NOT ADHERE TO LISTING AGREEMENT

BHAVESH PRAPATRAI GANDHI

ALLEGED VIOLATION OF REGULATIONS 3(A) TO (D), 4 (1), 4 (2) (F) AND 4 (2) (R) OF SEBI (PFUTP) REGULATIONS, 2003 READ WITH SECTION 12A (A) TO (C) OF SEBI ACT, 1992 IN THE MATTER OF HORIZON INFRASTRUCTURE LTD. (NOW KNOWN AS SKIL INFRASTRUCTURE LTD.)

ALLEGED VIOLATION OF CLAUSES 31, 35 AND 36 OF LISTING AGREEMENT READ WITH SECTION 21 OF SCRA, 1956 IN THE MATTER OF HORIZON INFRASTRUCTURE LTD. (NOW KNOWN AS SKIL INFRASTRUCTURE LTD.)

REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.1,32,74,000, INTEREST RS.5,10,595 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

17-MAY-2017

BHAVIK SATISH BADANI

(PAN:ALRPB9295L)

KELVIN FINCAP LTD.

PAN:AAACD1881H

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH MATCHED TRANSACTIONS IN SCRIP OF KELVIN FINCAP LTD.

DID NOT MAKE DISCLOSURE OF SHAREHOLDING PATTERN TO BSE VIOLATING SECTION 21 OF SCRA, 1956 READ WITH CLAUSE 35 OF LISTING AGREEMENT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 14-AUG-2014 TO 13-JUL-2021

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 14-AUG-2014 TO 13-JUL-2021

PROHIBITED FROM RAISING ANY FURTHER CAPITAL IN ANY MANNER, DIRECTLY OR INDIRECTLY FROM 14-AUG-2014 TO 13-JUL-2021

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 14-AUG-2014 TO 13-JUL-2021

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

14-AUG-2014

SEBI VIDE ITS ORDER DATED 31/08/2020 DIRECTED A) NOT TO ACCESS SECURITIES MARKET, DIRECTLY OR INDIRECTLY, BY ISSUING PROSPECTUS, OFFER DOCUMENT OR ADVERTISEMENT SOLICITING MONEY FROM THE PUBLIC FOR 3 YEARS B) RESTRAINED AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN WHATSOEVER MANNER, FOR 7 YEARS

BHUPINDER K.SINGH

TACTFULL INVESTMENTS LTD.

DID NOT ADHERE TO LISTING AGREEMENT

COMPANY WAS NOT LOCATED AT ITS REGISTERED OFFICE ADDRESS

BHUWNESHWAR MISHRA

(PAN:AIWPM9469M)

GHCL LTD.

PAN:AAACG5609C

FILED FALSE AND MISLEADING REPORT ON SHAREHOLDING PATTERN WITH THE STOCK EXCHANGES

DID NOT MAKE DISCLOSURE OF SALE/TRANSFER OF SHARES OF PROMOTERS IN MATTER OF GHCL LTD.

MISLED INVESTORS BY GIVING FALSE SHAREHOLDING OF PROMOTERS OF GHCL LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 20-APR-2009 TILL FURTHER ORDERS

20-APR-2009

DIRECTIONS ISSUED VIDE ORDER DATED 20/04/2009 REVOKED WITH IMMEDIATE EFFECT VIDE ORDER DATED 14/03/2011

BIN CHENG

ALLEGED INDULGENCE IN MISSTATEMENT IN BOOKS OF ACCOUNTS VIOLATING CLAUSE 49(III(D) OF LISTING AGREEMENT READ WITH SECTION 21 OF SCRA, 1956 IN MATTER OF ACCEL FRONTLINE LTD.

REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,37,500 VIDE CONSENT ORDER)

16-NOV-2022

BIPIN BHIKHABHAI PATEL

(PAN:AIDPP3653M)

KELVIN FINCAP LTD.

PAN:AAACD1881H

BIPIN CHANDRA P.MEHTA

SPIL FINANCE LTD.

DID NOT ADHERE TO LISTING AGREEMENT

BIPIN CHANDRA TRIVEDI

FINTECH COMMUNICATIONS LTD.

DID NOT ADHERE TO LISTING AGREEMENT

BIPIN M.PATEL

NAISARGIK AGRITECH (INDIA) LTD.

DID NOT ADHERE TO LISTING AGREEMENT

BIPINCHANDRA P.MEHTA

SPIL FINANCE LTD.

SUSHIL PACKAGINGS (INDIA) LTD.

DID NOT ADHERE TO LISTING AGREEMENT

COMPANY WAS NOT LOCATED AT ITS REGISTERED OFFICE ADDRESS

100

BRAJESH KUMAR SINHA

BODH GAYA CERAMICS LTD.

DECLARED AS A VANISHING COMPANY

DID NOT ADHERE TO LISTING AGREEMENT

DID NOT SUBMIT STATUTORY REPORTS, DIRECTORS REPORTS AND OTHER INFORMATION TO STOCK EXCHANGE

DID NOT FURNISH FINANCIAL RESULTS INCLUDING CASH FLOW STATEMENTS, BALANCE SHEET AND PROFIT & LOSS ACCOUNT TO STOCK EXCHANGE

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 25-SEP-2003 TO 24-SEP-2008

PROHIBITED PUBLIC COMPANIES IN WHICH THIS DIRECTOR HAS CONTROLLING/SUBSTANTIAL INTEREST TO RAISE FUNDS FROM CAPITAL MARKET FROM 25-SEP-2003 TO 24-SEP-2008

25-SEP-2003

The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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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 : 02-MAR-2026

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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 : 02-MAR-2026