| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 101 |
|
KANCHAN INVESTMENTS
(Member : PSE)
|
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
DEFAULTED IN VERIFYING FINANCIAL CAPABILITIES AND NET WORTH OF CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
19-SEP-2006
|
|
| 102 |
|
|
KANODIA STOCK BROKING PVT.LTD.
(PAN:AABCK3292N)
(Member : CSE)
|
|
|
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
27-DEC-2005
|
|
| 103 |
|
|
KAPILA SECURITIES PVT.LTD.
(Member : NSE)
|
|
|
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLOWED TERMINAL TO UNAUTHORISED USERS
|
IMPOSED PENALTY RS.3,00,000
07-AUG-2009
|
|
| 104 |
|
|
KARVY STOCK BROKING LTD.
(PAN:AABCK5190K)
(Member : BSE/NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
ALLOTTED MULTIPLE CLIENT CODES TO ONE CLIENT
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DEFICIENCIES IN CLIENT DATABASE
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT COLLECT MARGINS FROM CLIENTS
|
IMPOSED PENALTY RS.2,00,000
18-NOV-2005
|
|
| 105 |
|
|
KASAT SECURITIES PVT.LTD.
(Along with : KAYNET CAPITAL LTD.)
|
|
|
|
RAJESH KASAT
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 106 |
|
|
KASTHURIRANGAN & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE,Member : MDSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
EXECUTED MATCHING TRANSACTIONS
INDULGED IN EVASION OF MARGIN MONEY
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
DID NOT EXERCISE DUE SKILL AND DILIGENCE
|
IMPOSED PENALTY RS.1,00,000
02-NOV-2004
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PENALTY AMOUNT TO RS.25,000 FROM RS.1,00,000
|
| 107 |
|
|
KAYNET CAPITAL LTD.
(PAN:AABCK3032E)
(Member : BSE)
|
|
|
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT ISSUANCE OF CONTRACT NOTES IN TIME
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 03-JUL-2003 TO 02-NOV-2003
12-JUN-2003
|
SAT: IMPUGNED ORDER MODIFIED BY REDUCING PERIOD OF SUSPENSION FROM 4 MONTHS TO 1 DAY
|
| 108 |
|
|
KAYNET CAPITAL LTD.
(PAN:AABCK3032E)
(Member : BSE)
(Along with : KASAT SECURITIES PVT.LTD.,
KAYNET FINANCE LTD.)
|
|
|
|
RAJESH KASAT
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 109 |
|
|
KAYNET FINANCE LTD.
(PAN:AAACK3428B)
(Along with : KAYNET CAPITAL LTD.)
|
|
|
DID NOT COLLECT MARGINS FROM CLIENTS
AIDED/ABETTED ITS CLIENTS IN MANIPULATIVE AND FRAUDULENT TRANSACTIONS IN SCRIP OF SNOWCEM INDIA LTD.
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 15-FEB-2006 TO 14-JUN-2006
25-JAN-2006
|
SAT: APPEAL ALLOWED AND IMPUGNED ORDER SET ASIDE
|
| 110 |
|
|
KESHAV FINCON LTD.
(Member : UPSE)
|
|
|
DEFAULTED IN MAINTENANCE OF SAUDA BOOK
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
ACTED AS SUB-BROKER WITHOUT SEBI REGISTRATION
COMMITTED IRREGULARITIES/DEFAULTED IN ISSUANCE OF CONFIRMATION MEMOS
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DID NOT APPOINT COMPLIANCE OFFICER
DID NOT TRANSFER CLIENTS MONEY TO CLIENT'S ACCOUNT ON DAILY BASIS
DID NOT MAINTAIN ADEQUATE BALANCE IN CLIENTS ACCOUNT
ENTERED IN AGREEMENTS WITH CLIENTS ON PLAIN PAPERS INSTEAD OF STAMP PAPERS
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 18-OCT-2006 TO 17-NOV-2006
28-SEP-2006
|
|
| 111 |
|
|
KIRIT SHAH SECURITIES PVT.LTD.
(Member : ASE)
|
|
|
DEFICIENCIES IN CLIENT DATABASE
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 11-OCT-1999 TO 10-JAN-2000
05-OCT-1999
|
|
| 112 |
|
|
KORP SECURITIES LTD.
(PAN:AACCK1771D)
(Member : NSE)
|
|
|
INDULGED IN INDIRECT FUNDING TO CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DIFFERENCES BETWEEN CLIENT LEDGER AND TRADE REPORT AS TRANSACTIONS CARRIED ON IN NAME OF A DIFFERENT CLIENT AND RECORDED IN BACK-OFFICE IN NAME OF ANOTHER CLIENTS
SAUDAS BEING PUNCHED IN THE BACK-OFFICE WITHOUT ACTUAL TRANSACTIONS BEING CARRIED OUT AT THE TERMINAL
DID NOT OBTAIN PRIOR PERMISSION FROM SEBI PERTAINING TO CHANGE IN SHAREHOLDING OF THE COMPANY
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 17-JAN-2006 TO 16-JUL-2006
27-DEC-2005
|
|
| 113 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Member : BSE/NSE)
|
|
|
|
NARAYAN S.A.
|
|
DID NOT MAINTAIN CLIENT DATABASE
FAILED TO OBTAIN WITNESS SIGNATURES
DID NOT SUBMIT COPY OF RECEIPT OF BANK STATEMENTS
DID NOT SUBMIT COPY OF BANK PASSBOOK FROM ANY OF THE CLIENTS ALONG WITH CLIENT REGISTRATION FORM
DID NOT COLLECT UPFRONT MARGINS
DID NOT EXERCISE DUE CARE AND DILIGENCE
OBTAINED PROOF OF IDENTITY OF ONLY DESIGNATED DIRECTORS/PARTNERS OF CORPORATE/PARTNERSHIP CLIENTS AND NOT OF PROMOTERS/KEY MANAGEMENT PERSONNEL
|
IMPOSED PENALTY RS.10,00,000
18-DEC-2006
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.4,00,000 VIDE CONSENT ORDER)
30-JUN-2009
|
SAT: ORDER DATED 18/12/2006 DISPOSSED OFF AS APPLICANT AGREED TO PAY RS.10,00,000 TOWARDS SETTLEMENT CHARGES AND RS.4,00,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 114 |
|
|
KOTAK SECURITIES LTD.
(PAN:AAACK3436F)
(Member : OTC)
|
|
|
|
NARAYAN S.A.
|
|
DID NOT MAINTAIN CLIENT DATABASE
FAILED TO OBTAIN WITNESS SIGNATURES
DID NOT SUBMIT COPY OF RECEIPT OF BANK STATEMENTS
DID NOT SUBMIT COPY OF BANK PASSBOOK FROM ANY OF THE CLIENTS ALONG WITH CLIENT REGISTRATION FORM
DID NOT COLLECT UPFRONT MARGINS
DID NOT EXERCISE DUE CARE AND DILIGENCE
OBTAINED PROOF OF IDENTITY OF ONLY DESIGNATED DIRECTORS/PARTNERS OF CORPORATE/PARTNERSHIP CLIENTS AND NOT OF PROMOTERS/KEY MANAGEMENT PERSONNEL
|
IMPOSED PENALTY RS.10,00,000
18-DEC-2006
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.10,00,000, LEGAL EXPENSES RS.4,00,000 VIDE CONSENT ORDER)
30-JUN-2009
|
SAT: ORDER DATED 18/12/2006 DISPOSSED OFF AS APPLICANT AGREED TO PAY RS.14,00,000 TOWARDS SETTLEMENT CHARGES AND RS.4,00,000 TOWARDS LEGAL EXPENSES AS PER CONSENT ORDER
|
| 115 |
|
|
LALIT CO.
(Member : CSE)
|
|
|
|
KISHAN LAL PUGALIA
|
|
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 14-OCT-2002 TO 13-APR-2003
17-OCT-2002
|
|
| 116 |
|
|
LALKAR SECURITIES PVT.LTD.
(CIN:U65990MH1997PTC105421
PAN:AAACL1966B)
(Member : BSE)
|
|
|
DID NOT EXERCISE DUE CARE AND DILIGENCE
DID NOT ADHERE TO "KNOW YOUR CLIENT" DIRECTIVES/INSTRUCTIONS/GUIDELINES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
22-FEB-2007
|
|
| 117 |
|
|
LIMRA SECURITIES LTD.
(Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DEFICIENCIES IN CLIENT DATABASE
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
|
IMPOSED PENALTY RS.50,000
25-NOV-2004
|
|
| 118 |
|
|
LIMRA SECURITIES LTD.
(Member : NSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS AND/OR DOCUMENTS
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT FROM CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENTS' SECURITIES AND OWN SECURITIES
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
DEALT WITH UN-REGISTERED SUB-BROKERS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 07-JUL-2006 TO 21-JUL-2006
16-JUN-2006
|
|
| 119 |
|
|
LIQUID INVESTMENTS & FINANCIAL SERVICES PVT.LTD.
(Member : NSE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT FROM CLIENTS
DID NOT MAINTAIN CLIENT AGREEMENTS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT APPOINT COMPLIANCE OFFICER
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
13-JAN-2006
|
|
| 120 |
|
|
LOHIA SECURITIES PVT.LTD.
(Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
DID NOT FILE FIRST INFORMATION REPORT IN RESPECT OF STOLEN/FAKE/FORGED SHARES
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
06-JAN-2000
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
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| Page 6 of 12
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