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: PROVIDED WRONG/INCOMPLETE INFORMATION TO SEBI/DID NOT CO-OPERATE WITH SEBI IN INVESTIGATIONS

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

1081

VINIT SATPUTE

(DIN:07737200
PAN:EBMPS2703F)

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BULL RESEARCH INVESTMENT ADVISORS PVT.LTD.

PAN:AAHCB1200H

PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS

RECEIVED PAYMENT FROM FAMILY MEMBERS OF PRIMARY CLIENTS TO HIDE EXORBITANT FEES TAKEN FROM PRIMARY CLIENT

RAISED INVOICES IN THE NAME OF CLIENTS WHO DID NOT HAVE DEMAT/TRADING ACCOUNT

SOLD MULTIPLE PACKAGES TO CLIENTS WITH THREAT OF FORFEITURE AND CHARGED UNREASONABLE AND UNDISCLOSED FEE

RECEIVED PAYMENT BEFORE DOING KNOW YOUR CLIENTS (KYC) AND RISK PROFILING OF CLIENTS

CARRIED OUT IMPROPER RISK PROFILING OF CLIENTS

DID NOT MEET CAPITAL ADEQUACY NORMS AND TOOK REGISTRATION BY SUBMITTING FORGED CA CERTIFICATE TO SEBI

DID NOT FURNISH INFORMATION, RETURN ETC. TO SEBI

DID NOT HAVE VALID NCFM/NISM CERTIFICATE

DID NOT REDRESS INVESTOR COMPLAINTS

IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS

29-MAY-2023

SEBI VIDE ITS NOTICE DATED 07/08/2023 DIRECTED TO PAY RS.10,41,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

1082

VINOD C.SHAH

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

IMPOSED PENALTY RS.2,00,000

08-JUL-2004

SAT: APPEAL ALLOWED

1083

VINOD D.PATEL

(PAN:ACUPV1795B)

AIDED AND ABETTED COMPANY AND ITS PROMOTERS IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION THROUGH OFF-MARKET TRADES IN SCRIP OF E.STAR INFOTECH LTD.

DID NOT PROVIDE NECESSARY INFORMATION/DOCUMENTS IN RESPONSE TO SUMMONS IN MATTER OF E.STAR INFOTECH LTD.

IMPOSED PENALTY RS.1,00,000

04-JUL-2012

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

SEBI VIDE ITS NOTICE DATED 19/01/2022 DIRECTED TO PAY A RS.2,15,608.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS NOTICE DATED 13/10/2022 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 16/11/2022 DIRECTED ALL THE BANKS TO REMIT RS.2,26,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF MR.VINOD D.PATEL TO SEBI BY WAY OF EFT/NEFT/RTGS

1084

VINOD D.PATEL

(PAN:ACUPV1795B)

DID NOT PERSONALLY APPEAR AND/OR PROVIDE NECESSARY INFORMATION/DOCUMENTS IN RESPONSE TO SUMMONS IN MATTER OF ELTROL LTD.

IMPOSED PENALTY RS.5,00,000

26-MAR-2010

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

SEBI VIDE ITS NOTICE DATED 28/03/2018 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 10/11/2022 DIRECTED ALL THE BANKS TO REMIT RS.12,56,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF MR.VINOD D.PATEL TO SEBI BY WAY OF EFT/NEFT/RTGS

1085

VINOD KANTI SHUKLA

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

IMPOSED PENALTY RS.30,000

29-JUL-2005

1086

VINOD KUMAR AGARWAL

(PAN:BQIPA6562Q)

DID NOT PERSONALLY APPEAR AND/OR PROVIDE NECESSARY INFORMATION / DOCUMENTS IN RESPONSE TO SUMMONS IN MATTER OF EROS INTERNATIONAL MEDIA LTD.

IMPOSED PENALTY RS.12,00,000

29-OCT-2024

SEBI VIDE ITS NOTICE DATED 14/01/2025 DIRECTED TO PAY RS.12,49,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 06/02/2025 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS 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

SAT: SAT VIDE ITS ORDER DATED 21/04/2025 CONDONED THE DELAY OF 91 DAYS IN FILING OF APPEAL AND REJOINDER, IF ANY, BE FILE WITHIN TWO WEEKS THEREAFTER

1087

VINOD KUMAR BAID

(PAN:AFOPB8378M)

GENNEX LABORATORIES LTD.

PAN:AABCP3078M

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

IMPOSED PENALTY RS.10,00,000

29-JUL-2011

SAT: PENALTY AMOUNT REDUCED TO RS.5 LAC FROM RS.10 LAC VIDE ORDER DATED 22/11/2011 WITH NO ORDER AS TO COSTS.

1088

VINOD KUMAR BAID

(PAN:AFOPB8378M)

GENNEX LABORATORIES LTD.

PAN:AABCP3078M

DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING TO COMPANY AS REQUIRED UNDER REGULATION 13(4) READ WITH 13(5) OF SEBI (PROHIBITION OF INSIDER TRADING) REGULATIONS, 1992 IN MATTER OF GENNEX LABORATORIES LTD.

DID NOT PERSONALLY APPEAR AND/OR PROVIDE NECESSARY INFORMATION/DOCUMENTS IN RESPONSE TO SUMMONS/NOTICES/LETTERS IN MATTER OF GENNEX LABORATORIES LTD.

IMPOSED PENALTY RS.3,00,000

09-AUG-2011

INCLUDED IN SEBI LIST DATED 31/12/2013, AS DEFAULTER IN PAYMENT OF PENALTY IMPOSED BY SEBI

1089

VINOD T.SHETH

SHARP INDUSTRIES LTD.

PAN:AAFFS9104E

ALLEGED VIOLATION OF PREFERENTIAL ISSUE DIRECTIVES/INSTRUCTIONS/GUIDELINES IN ALLOTMENT OF SHARES OF SHARP INDUSTRIES LTD.

ALLEGED NOT RESPONDING TO LETTERS/SUMMONS ISSUED BY SEBI

REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.25,964, ADMINISTRATION CHARGES RS.10,000 VIDE CONSENT ORDER)

28-NOV-2008

1090

VINOD T.SHETH

SHARP INDUSTRIES LTD.

PAN:AAFFS9104E

DID NOT ADHERE TO SUMMONS ISSUED FOR FURNISHING OF INFORMATION

IMPOSED PENALTY RS.50,000

31-JAN-2005

1091

VIPUL BHAGWANDAS SHAH

(PAN:AARPS0651B)

DID NOT ADHERE TO SUMMONS ISSUED BY INVESTIGATION AUTHORITY IN MATTER OF MAHARASHTRA POLYBUTENES LTD.

IMPOSED PENALTY RS.6,00,000

31-AUG-2015

SEBI VIDE ITS NOTICE DATED 25/04/2017 DIRECTED ALL THE BANKS 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 05/05/2017 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 25/04/2015

1092

VIRAG GANDHI (AKA. VIRAG KUMAR KANTILAL GANDHI)