| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 121 |
|
MAGNUM EQUITY BROKING LTD.
(PAN:AAACM5661N)
(Member : BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT MAINTAIN CLIENT REGISTRATION FORMS
|
IMPOSED PENALTY RS.15,000
30-NOV-2004
|
|
| 122 |
|
|
MAHESH KOTHARI SHARES & STOCK BROKERS PVT.LTD.
(Member : BSE)
|
|
|
DEFAULTED IN MAINTENANCE OF BOOKS OF ACCOUNTS
DEALT WITH UN-REGISTERED SUB-BROKERS
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
MISUSED CLIENTS' FUNDS AND/OR SECURITIES AND/OR ACCOUNTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
19-FEB-2002
|
|
| 123 |
|
|
MAHESHWARI TECHNICAL & FINANCIAL SERVICES LTD.
(Member : NSE,Depository Participants : NSDL)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED INDULGENCE IN MARKET MANIPULATION AND PRICE MANIPULATION THROUGH CROSS, STRUCTURED AND SYNCHRONIZED DEALS IN SCRIP OF SHAMKEN MULTIFAB LTD.
ALLEGED FAILURE IN EXERCISING DUE SKILL, CARE & DILIGENCE, INDULGED IN MANIPULATIVE ACTIVITIES AND DID NOT ADHERE TO STATUTORY REQUIREMENTS VIOLATING REGULATION 7 READ WITH CLAUSES A(2) TO A(5) OF CODE OF CONDUCT UNDER SCHEDULE II OF SEBI (STOCK BROKERS AND SUB BROKERS) REGULATIONS, 1992 IN MATTER OF SHAMKEN MULTIFAB LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.20,00,000 VIDE CONSENT ORDER)
12-AUG-2010
|
|
| 124 |
|
|
MAHIPAT RAICHAND SHAH,M/S
(Member : ASE)
|
|
|
|
MAHIPAT RAICHAND SHAH
|
|
DEFAULTED IN MAINTENANCE OF MARGIN REGISTER
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS
DEFAULTED IN MAINTENANCE OF DOCUMENTS REGISTER
SUBMITTED WRONG INFORMATION TO SEBI
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN ILLEGAL CARRY FORWARD TRANSACTIONS
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
EXECUTED FICTITIOUS TRANSACTIONS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 06-AUG-2001 TO 05-OCT-2001
03-AUG-2001
|
|
| 125 |
|
|
MALIRAM MAKHARIA FINSTOCK PVT.LTD.
(PAN:AACCM1102E)
(Member : BSE)
|
|
|
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
FAILED TO PAY DIVIDENDS TO SHAREHOLDERS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT EXERCISE DUE SKILL AND DILIGENCE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
|
IMPOSED PENALTY RS.2,00,000
05-SEP-2007
|
|
| 126 |
|
|
MAN MOHAN DAMANI,M/S
(Member : CSE)
|
|
|
|
MAN MOHAN DAMANI
|
|
INDULGED IN OFF-MARKET TRANSACTIONS
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 23-JUL-2004 TO 22-JAN-2005
02-JUL-2004
|
|
| 127 |
|
|
MANGAL KESHAV SECURITIES LTD.
(PAN:AAECM6524C)
(Member : BSE/NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
13-JAN-2006
|
|
| 128 |
|
|
MANGLA CAPITAL SERVICES PVT.LTD.
(Member : NSE)
|
|
|
|
VINOD GUPTA
|
|
ISSUED TWO CONTRACT NOTES FOR THE SAME TRADE TO FACILITATE CLIENTS TO RECEIVE IMMEDIATE CASH FOR THE SALES MADE AND TO USE THAT MONEY TO BUY SAME SHARES THROUGH OTHER BROKERS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT EXERCISE DUE CARE AND DILIGENCE AT THE TIME OF ADMITTING CLIENTS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
31-JAN-2006
|
SAT: APPEAL FAILED AND DISMISSED WITH NO ORDER AS TO COSTS, AS SAT UPHELD ONLY TWO FINDINGS. FIRST EXECUTION OF TWO CONTRACT NOTES AND DEALT WITH UN-REGISTERED SUB-BROKER
SAT: CONFIRMED PREVIOUS SAT ORDER DATED 10/08/2007 VIDE WHICH ONLY TWO FINDINGS OF SEBI WERE UPHELD
|
| 129 |
|
|
MANI & CO.
(Sub-Broker of MSE FINANCIAL SERVICES LTD., Member : BSE,Member : MDSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
INDULGED IN OFF-THE-FLOOR TRANSACTIONS
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DEFAULTED IN PAY-IN OBLIGATIONS
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
|
| 130 |
|
|
MARCK SECURITIES PVT.LTD.
(PAN:AACCM5188N)
(Member : NSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.90,000, ADMINISTRATION CHARGES RS.10,000 VIDE CONSENT ORDER)
27-APR-2009
|
|
| 131 |
|
|
MATHRAN SECURITIES LTD.
(Member : CSE)
|
|
|
|
ATAMARAM MATHRAN
|
|
INDULGED IN OFF-MARKET TRANSACTIONS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
INDULGED IN UNAUTHORISED FUND-BASED ACTIVITIES
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 19-JUN-2003 TO 18-OCT-2003
29-MAY-2003
|
|
| 132 |
|
|
MEFCOM SECURITIES & STOCK BROKERS
(Member : DSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DEALT WITH UN-REGISTERED SUB-BROKERS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT ADHERE TO BASE MINIMUM CAPITAL REQUIREMENT
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
18-JUN-1998
|
|
| 133 |
|
|
MEFCOM SECURITIES LTD.
(PAN:AAACM1079Q)
(Member : NSE/OTC/DSE/BSE)
|
|
|
|
VIJAY MEHTA
|
|
DID NOT MAINTAIN SEPARATE BOOKS OF ACCOUNTS FOR TRANSACTIONS ON DIFFERENT STOCK EXCHANGES
DEFAULTED IN MAINTENANCE OF MARGIN DEPOSIT BOOK
DID NOT RECORD TIME OF PLACEMENT OF ORDERS ON CONTRACT NOTES
DID NOT OBTAIN ACKNOWLEDGEMENT ON COUNTERFOILS OF CONTRACT NOTES
DID NOT HAVE PRE-PRINTED SERIAL NUMBERS ON CONTRACT NOTES
DID NOT MAINTAIN DESPATCH RECORDS
CONTRACT NOTES NOT SIGNED BY AUTHORISED REPRESENTATIVES
PERMITTED CLIENTS TO TRADE BEFORE THE AGREEMENT DATE
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
ENTERED IN AGREEMENTS WITH CLIENTS ON STAMP PAPERS OF INADEQUATE VALUE
DEFICIENCIES IN CLIENT DATABASE
DID NOT DISCLOSE DETAILS OF PROPRIETARY TRADING TO CLIENTS
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT COLLECT MARGINS FROM CLIENTS
DEALT WITH UN-REGISTERED SUB-BROKERS
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
PERMITTED TRADING TERMINALS AT UNAUTHORISED LOCATIONS
DID NOT RECONCILE DIVIDEND ACCOUNTS OF CLIENTS
|
IMPOSED PENALTY RS.10,00,000
21-DEC-2005
|
SAT: APPEAL DISMISSED WITH NO ORDER AS TO COSTS
|
| 134 |
|
|
MEHTA & AJMERA
(Member : CSE)
|
|
|
|
GIRISH S.MEHTA
PAN:AFMPM1006P
|
|
|
HIMANSHU AJMERA
PAN:ADEPA7521K
|
|
NON-COOPERATION WITH SEBI IN INVESTIGATIONS
INDULGED IN OFF-MARKET TRANSACTIONS
INDULGED IN MATCHED/SYNCHRONISED TRANSACTIONS IN SCRIP OF DSQ SOFTWARE LTD.
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 25-MAR-2004 TO 24-MAR-2005
08-MAR-2004
|
SAT: APPEAL DISPOSED OFF, BEING INFRUCTUOUS
|
| 135 |
|
|
MEHTA VAKIL & CO.PVT.LTD.
(PAN:AAACM3089L)
(Member : BSE)
|
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 20-JAN-2006 TO 03-FEB-2006
30-DEC-2005
|
|
| 136 |
|
|
MERFIN (INDIA) LTD.
(CIN:U65910AP1994PLC018942)
(Member : NSE)
|
|
|
|
P.S.R.NAGABHUSHANA RAO
|
|
DEALT WITH UN-REGISTERED SUB-BROKERS
USED CLIENTS' ACCOUNT FOR PAYMENT OF OWN OBLIGATIONS
DID NOT COLLECT MARGINS FROM CLIENTS
DID NOT DELIVER SECURITIES TO CLIENTS IN TIME
DID NOT EXERCISE DUE CARE AND DILIGENCE
DID NOT MAKE PAYMENTS TO CLIENTS IN TIME
DID NOT ADHERE TO DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI
|
IMPOSED PENALTY RS.1,50,000
03-OCT-2006
|
|
| 137 |
|
|
MERRY SHARE FIN LTD.
(Member : ASE)
|
|
|
DEFAULTED/IRREGULARITIES IN MAINTENANCE OF ORDER BOOK
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DEALT WITH UN-REGISTERED SUB-BROKERS
DEALT WITH BROKERS OF OTHER EXCHANGES WITHOUT SEBI REGISTRATION AS SUB-BROKER
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DEFICIENCIES IN CLIENT DATABASE
EVADED CARRY FORWARD MARGIN
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT TRANSFER SECURITIES FROM POOL ACCOUNT TO CLIENTS' ACCOUNT IN TIME
|
SUSPENDED REGISTRATION AS STOCK BROKER FROM 27-DEC-2002 TO 26-DEC-2003
24-DEC-2002
|
|
| 138 |
|
|
MG CAPITAL SERVICES LTD.
(CIN:U74899DL1994PLC061509
PAN:AAACM6670R)
(Member : DSE)
|
|
|
COMMITTED IRREGULARITIES IN RESPECT OF CONTRACT NOTES
DID NOT REPORT OFF-THE-FLOOR TRANSACTIONS TO THE EXCHANGE
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT OBTAIN WRITTEN CONSENT FROM CLIENTS FOR PRINCIPAL TO PRINCIPAL TRANSACTIONS
DEALT WITH UN-REGISTERED SUB-BROKERS
|
CENSURED/WARNED & DIRECTED TO BE DILIGENT IN COMPLYING WITH SEBI REGULATIONS
06-JAN-2000
|
|
| 139 |
|
|
MG CAPITAL SERVICES LTD.
(CIN:U74899DL1994PLC061509
PAN:AAACM6670R)
(Member : NSE)
|
|
|
ALLEGED DISCREPANCY IN ISSUANCE OF CONTRACT NOTES
ALLEGED FAILURE IN MAINTENANCE OF CLIENT DATABASE
ALLEGED NON-COMPLIANCE OF REQUIREMENTS OF UNIQUE CLIENT CODE
ALLEGED DELAY IN DELIVERY OF SECURITIES WITHIN STIPULATED TIME
ALLEGED NON-SEGREGATION OF CLIENT FUNDS FROM BROKERS FUNDS
ALLEGED DEFAULT IN MAINTENANCE OF BOOK OF ACCOUNTS AND RECORDS
ALLEGED DELAY IN MAKING PAYMENT TO CLIENTS
ALLEGED INDULGENCE IN PRO ACCOUNT TRADING
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.3,35,000 VIDE CONSENT ORDER)
31-OCT-2008
|
|
| 140 |
|
|
MG CAPITAL SERVICES LTD.
(CIN:U74899DL1994PLC061509
PAN:AAACM6670R)
(Member : NSE)
|
|
|
DID NOT MAINTAIN SEGREGATION BETWEEN CLIENT FUNDS AND OWN FUNDS
DID NOT ENTER INTO AGREEMENT WITH CLIENTS
ALLOWED DEALING TO SUB-BROKER THROUGH FMS SECURITIES LTD.
ALLOWED TRADE TO SUB-BROKER THROUGH FMS SECURITIES LTD.
|
IMPOSED PENALTY
31-MAR-2020
|
SEBI VIDE ITS NOTICE DATED 17/07/2023 DIRECTED TO PAY RS.7,06,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 03/04/2024 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
|
| 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 7 of 13
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