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 : 04-NOV-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: DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

161

MADHU RENDER SINGH

(PAN:CDBPS4643B)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 02-MAR-2023 UNTIL FURTHER ORDERS

DIRECTED TO OPEN INTEREST BEARING ESCROW ACCOUNT WITH A SCHEDULED COMMERCIAL BANK AND DEPOSIT THE IMPOUNDED AMOUNT THEREIN IN THE MATTER OF TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 02-MAR-2023 UNTIL FURTHER ORDERS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT NOT TRANSFERRED SECURITIES HELD JOINTLY OR SEVERALLY

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.3,27,31,139

02-MAR-2023

SAT: SAT VIDE ITS ORDER DATED 17/03/2023 ALLOWED THE APPLICATION FOR EXEMPTION OF CERTIFIED COPY

SEBI VIDE ITS ORDER DATED 31/10/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 20/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SADHNA BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) FUNDS TO BE DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN INTERIM ORDER WILL REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

SAT: SAT VIDE ITS ORDER DATED 08/01/2024 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 12/02/2024 ALLOWED APPELLANT FURTHER TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 16/04/2024 ALLOWED APPELLANTS ADDITIONAL AND FINAL THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/08/2024 GRANTED APPELLANT TWO MONTHS TO SETTLE THE CASE

SAT: SAT VIDE ITS ORDER DATED 31/07/2025 DIRECTED APPELLANT TO DEPOSIT TOTAL SUM OF RS.60 LAC AFTER ALLOWING CREDIT FOR THE AMOUNT WHICH IS ALREADY DEPOSITED

162

MAHABIR CHAND JAIN

(PAN:ACHPJ8058N)

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GUINESS SECURITIES LTD.

PAN:AAACG9843L

MISAPPROPRIATED CLIENT SECURITIES AND/OR FUNDS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 19-DEC-2018 TILL FURTHER ORDERS

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 19-DEC-2018 TILL FURTHER ORDERS

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 19-DEC-2018 TILL FURTHER ORDERS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY EXCEPT FOR THE PURPOSE OF PAYMENT OF MONEY TO CLIENTS/INVESTORS UNDER WRITTEN CONFIRMATION OF CONCERNED STOCK EXCHANGES

19-DEC-2018

SEBI VIDE ITS ORDER DATED 31/07/2019 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS EX-PARTE AD INTERIM ORDER DATED 19/12/2018

SEBI VIDE ITS ORDER DATED 30/06/2022 REVOKED THE DIRECTIONS ISSUED VIDE ITS EX-PARTE AD-INTERIM ORDER DATED 19/12/2018

163

MAHESH TILLORE

(PAN:AUWPT4085E)

MAX CAPITAL

PAN:AUWPT4085E

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 11/05/2021 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM CLIENTS/INVESTORS, AS FEES OR CONSIDERATION OR IN ANY OTHER FORM, IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES WITHIN PERIOD OF THREE MONTHS FROM THE DATE OF THIS ORDER B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING THE MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING FORCE OF THIS ORDER C) REPAYMENTS TO CLIENTS/INVESTORS SHALL BE EFFECTED ONLY IN CASH THROUGH BANK DEMAND DRAFT OR PAY ORDER D) PREVENTED FROM SELLING THE ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED E) BANKS TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES FROM THE NOTICEES F) FILE REPORT OF SUCH COMPLETION OF WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANTS G) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR PERIOD OF TWO YEARS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS H) RESTRAINED FROM ASSOCIATING WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC, OR ANY INTERMEDIARY REGISTERED WITH SEBI IN THE CAPACITY FOR TWO YEARS FROM THE DATE OF COMPLETION OF REFUNDS TO INVESTORS I) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

SEBI VIDE ITS NOTICE DATED 15/09/2023 DIRECTED TO PAY RS.2,00,80,775.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 13/12/2023 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

164

MAHESH VAGHAJIBHAI RAMANI

(PAN:AMUPR3076P)

TIPS4MARKET,M/S

PAN:AMUPR3076P

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 04/06/2021 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM CLIENTS/INVESTORS/COMPLAINT AS FEES OR COMPENSATION OR IN ANY OTHER FORM IN RESPECT OF ITS UNREGISTERED INVESTMENT ADVISORY ACTIVITIES B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND C) REPAYMENTS TO THE CLIENTS/INVESTORS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONIC FUND TRANSFER OR THROUGH ANY OTHER APPROPRIATE BANKING CHANNELS D) NOT TO SELL ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS. FURTHER, THE BANKS ARE DIRECTED TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES E) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANTS F) DEBARRED FROM ACCESSING THE SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER, FOR A PERIOD OF TWO YEARS FROM THE DATE OF THIS ORDER OR TILL THE EXPIRY OF TWO YEARS FROM THE DATE OF COMPLETION OF REFUNDS TO INVESTORS G) RESTRAINED FROM ASSOCIATING WITH ANY LISTED COMPANY WHOSE SECURITIES ARE LISTED ON RECOGNIZED STOCK EXCHANGE AND WHICH INTENDS TO RAISE MONEY FROM PUBLIC, OR ANY INTERMEDIARY REGISTERED WITH SEBI IN ANY CAPACITY OF DIRECTOR/PROMOTER/SENIOR MANAGEMENT FOR TWO YEARS FROM THE DATE OF COMPLETION OF REFUNDS TO INVESTORS H) NOT TO UNDERTAKE, EITHER DURING OR AFTER THE EXPIRY OF THE PERIOD OF DEBARMENT/RESTRAINT, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING A CERTIFICATE OF REGISTRATION FROM SEBI AS REQUIRED UNDER THE SECURITIES LAWS

165

MANISH MISHRA

(PAN:AMPPM6823L)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SHARPLINE BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

SEBI VIDE ITS ORDER DATED 01/11/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 11/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SHARPLINE BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) LIABILITY FOR THE ILLEGAL GAIN MADE BY EACH NOTICEE TO THIS ORDER TO BE BORNE BY THEM INDIVIDUALLY C) REVOKED THE DIRECTIONS IN PARAGRAPH NOS.37.5, 37.6, 37.7 AND 37.8 OF INTERIM ORDER DATED 03/03/2023 D) REVOKED THE REASONS RECORDED IN PARA NO.37.7.1 E) FUNDS DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN THE INTERIM ORDER TO REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS

166

MANISH MISHRA

(PAN:AMPPM6823L)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 02-MAR-2023 DURING THE PENDENCY OF INVESTIGATION

DIRECTED TO OPEN INTEREST BEARING ESCROW ACCOUNT WITH A SCHEDULED COMMERCIAL BANK AND DEPOSIT THE IMPOUNDED AMOUNT THEREIN IN THE MATTER OF TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 02-MAR-2023 DURING THE PENDENCY OF INVESTIGATION

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT NOT TRANSFERRED SECURITIES HELD JOINTLY OR SEVERALLY

02-MAR-2023

SAT: SAT VIDE ITS ORDER DATED 17/03/2023 ALLOWED THE APPLICATION FOR EXEMPTION OF CERTIFIED COPY

SEBI VIDE ITS ORDER DATED 31/10/2023 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 02/03/2023 READ WITH CONFIRMATORY ORDER DATED 20/07/2023 AND A) DIRECTED TO RESTRAIN FROM DEALING IN THE SCRIP OF SADHNA BROADCAST LTD. DURING PENDENCY OF THE INVESTIGATION B) FUNDS TO BE DEPOSITED IN INTEREST BEARING ESCROW ACCOUNTS AS DIRECTED IN THE INTERIM ORDER TO REMAIN IN THE SAID ACCOUNT WITH LIEN IN FAVOUR OF SEBI UNTIL FURTHER ORDERS C) LIABILITY FOR ILLEGAL GAINS MODIFIED NIL FROM RS.14,46,567.00

SAT: SAT VIDE ITS ORDER DATED 16/04/2024 ALLOWED APPELLANTS ADDITIONAL AND FINAL THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/08/2024 GRANTED APPELLANT TWO MONTHS TO SETTLE THE CASE

SAT: SAT VIDE ITS ORDER DATED 31/07/2025 DIRECTED APPELLANT TO DEPOSIT TOTAL SUM OF RS.60 LAC AFTER ALLOWING CREDIT FOR THE AMOUNT WHICH IS ALREADY DEPOSITED

167

MANISH RAICHAND SHAH

(PAN:AVUPS3273N)

SEACOAST SHIPPING SERVICES LTD.

PAN:AACCM2171R

FURNISHED UNTRUE CERTIFICATES WITH RESPECT TO FINANCIAL STATEMENTS VIOLATING REGULATION 17(8) READ WITH PART B OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

DID NOT EXERCISE DUE DILIGENCE AS MEMBER OF AUDIT COMMITTEE VIOLATING REGULATIONS 4(2)(F)(I)(2), 4(2)(F)(II)(2), 4(2)(F)(II)(6), 4(2)(F)(II)(7), 4(2)(F)(III)(6) AND 4(2)(F)(III)(7) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

DID NOT EXERCISE DUE DILIGENCE AS MEMBER OF AUDIT COMMITTEE VIOLATING REGULATION 18(3) READ WITH PARA A OF PART C OF SCHEDULE II OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

PUBLISHED FALSE AND MISLEADING FINANCIAL STATEMENTS VIOLATING REGULATIONS 4(1)(A) TO 4(1)(C), 4(1)(E), 4(1)(G), 4(1)(H), 4(1)(J), 4(2)(E)(I), 6(1), 6(1A), 18(2), 23(2), 27(2)(A), 32, 33(1)(A), 33(1)(C), 33(3)(D), 34(2)(A) AND 48 OF THE SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

DID NOT COMPLY WITH REGULATIONS 18(1)(D) READ WITH 16(1)(B) OF SEBI (LODR) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

DID NOT ADHERE TO PREPARATION OF FINANCIAL STATEMENTS AND ACCOUNTING STANDARD VIOLATING REGULATION 34(3) READ WITH CLAUSE 1 OF PARA A OF SCHEDULE V TO SEBI (LORD) REGULATIONS, 2015 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

PUBLISHED FALSE AND MISLEADING FINANCIAL STATEMENTS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO 3(D), 4(1), 4(2)(E), 4(2)(F), 4(2)(K) AND 4(2)(R) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF SEACOAST SHIPPING SERVICES LTD.

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-SEP-2024 TO 29-SEP-2029

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 30-SEP-2024 TO 29-SEP-2029

RESTRAINED FROM ACTING AS DIRECTOR/KEY MANAGERIAL PERSONNEL OF ANY LISTED COMPANY OR SUBSIDIARY OR ANY COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY SEBI REGISTERED INTERMEDIARY FROM 30-SEP-2024 TO 29-SEP-2029

DIRECTED TO CREDIT/DEPOSIT AMOUNT OF UNLAWFUL GAINS IN INTEREST BEARING ESCROW ACCOUNT WITH NATIONALIZED BANK WITHIN FIFTEEN DAYS FROM DATE OF ORDER AND THE AMOUNT KEPT THEREIN NOT TO BE RELEASED WITHOUT PERMISSION FROM SEBI

DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI EXCEPT FOR THE PURPOSE OF TRANSFER OF FUNDS TO ESCROW ACCOUNT

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS AND/OR DEPOSITORIES AND/OR CUSTODIANS TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

30-SEP-2024

DIRECTED TO DISGORGE RS.47,89,87,587

IMPOSED PENALTY RS.50,00,000

24-SEP-2025

SAT: SAT VIDE ITS ORDER DATED 06/12/2024 DISMISSED THE APPEAL WITH LIBERTY TO APPELLANTS TO RAISE ALL CONTENTIONS BEFORE THE WTM OF SEBI

SAT: SAT VIDE ITS ORDER DATED 06/05/2025 EXTENDED TIME TILL 30/09/2025

VIDE ITS ORDER DATED 24/09/2025 DIRECTED TO A) RESTRAINED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES OR ACCESSING CAPITAL MARKETS, DIRECTLY OR INDIRECTLY, IN ANY MANNER, WHATSOEVER FOR FIVE YEARS FROM DATE OF INTERIM ORDER CUM SCN I.E.30/09/2024 B) RESTRAINED FROM ASSOCIATING HIMSELF WITH ANY INTERMEDIARIES REGISTERED WITH SEBI, ANY LISTED PUBLIC COMPANY OR ANY COMPANY EXCEPT SEACOAST SHIPPING SERVICES LTD. THAT INTENDS TO RAISE MONEY FROM PUBLIC IN ANY MANNER WHATSOEVER INCLUDING AS A DIRECTOR OR KEY MANAGERIAL PERSONNEL FOR FIVE YEARS FROM DATE OF INTERIM ORDER CUM SCN I.E.30/09/2024 C) IMPOSED PENALTY OF RS.30 LAC U/S 15HA AND RS.20 LAC U/S 15HB OF SEBI ACT. AND TO PAY WITHIN FORTY-FIVE (45) DAYS FROM DATE OF RECEIPT OF THIS ORDER D) DIRECTED TO DISGORGE UNLAWFUL GAINS OF RS.47,89,87,587.00 ALONG WITH INTEREST @12% P.A. FROM THE DATE GAINS WERE MADE TO BE REMITTED TO SEBI'SIPEF WITHIN 45 DAYS FROM RECEIPT OF THIS ORDER E) BANK ACCOUNTS INCLUDING JOINT ACCOUNTS SHALL CONTINUE TO REMAIN FROZEN AND NO DEBITS ARE ALLOWED WITHOUT PERMISSION OF SEBI EXCEPT FOR PAYMENT OF DISGORGEMENT AMOUNT. FURTHER, DEPOSITORIES ARE ALSO DIRECTED THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI. FURTHER, DEMAT ACCOUNTS OF NOTICEE ARE ALSO FROZEN FOR DEBITS BUT CREDITS ARE ALLOWED. BANKS AND DEPOSITORIES ARE DIRECTED TO ENSURE THAT ALL THE DIRECTIONS ARE STRICTLY ENFORCED. DEBITS MAY BE ALLOWED FROM BANK ACCOUNTS ONLY FOR AMOUNTS EXCEEDING DISGORGEMENT AMOUNT F) DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT UNTIL THE DISGORGEMENT AMOUNT WITH INTEREST IS PAID, NO TRANSFER OR REDEMPTION OF SECURITIES OR MUTUAL FUND UNITS HELD BY NOTICEE NO.2 INDIVIDUALLY OR JOINTLY G) NOT TO DISPOSE OF OR ALIENATE ANY ASSETS/PROPERTIES/SECURITIES TILL SUCH TIME AMOUNT OF UNLAWFUL GAINS IS DEPOSITED EXCEPT WITH PRIOR PERMISSION OF SEBI

168

MANISH VASANJI FURIYA

(PAN:AAAPF0856D)

MANISH VASANJI FURIYA (HUF)

PAN:AALHM8457L

INDULGED IN DEALING IN SECURITIES WHILE IN POSSESSION OF MATERIAL NON-PUBLIC INFORMATION VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT. 1992 AND REGULATIONS 3(A) TO 3(D) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF CNBC AWAAZ

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-OCT-2021 UNTIL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT

DIRECTED TO FREEZE BANK ACCOUNTS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 04-OCT-2021 UNTIL FURTHER ORDERS

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

04-OCT-2021

SAT: SAT VIDE ITS ORDER DATED 17/11/2022 DIRECTED TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER WITHIN THREE WEEKS THEREAFTERSAT: SAT VIDE ITS ORDER DATED 17/11/2022 DIRECTED TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER WITHIN THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 05/01/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 15/05/2023 CONDONED THE DELAY IN FILING OF APPEAL

SAT: SAT VIDE ITS ORDER DATED 21/11/2023 DISPOSED OF THE MATTER AND DIRECTED WTM TO DECIDE THE MATTER AFTER GIVING OPPORTUNITY OF HEARING TO THE APPELLANT ON OR BEFORE 31/03/2024

169

MANJARI TIWARI

(PAN:ADTPT3189M)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SHARPLINE BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

170

MANSI V.SHAH

(PAN:AADPS1279E)

INDULGED IN FRONT RUNNING TRADING ACTIVITIES OF DEALERS OF RELIANCE SECURITIES LTD. AND OTHER CONNECTED ENTITIES VIOLATING REGULATIONS 3(A) TO (D) AND 4(1) & 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 07-AUG-2020 UNTIL FURTHER ORDERS

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 07-AUG-2020 UNTIL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH A NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 07-AUG-2020 UNTIL FURTHER ORDERS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

07-AUG-2020

SAT: SAT VIDE ITS ORDER DATED 10/12/2020 DISPOSED OFF THE APPEAL AND DIRECTED APPELLANT TO FILE THEIR REPLY/OBJECTION ON OR BEFORE 15/12/2020

SEBI VIDE ITS ORDER DATED 30/12/2020 REVOKED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 07/08/2020

SAT: SAT VIDE ITS ORDER DATED 07/06/2023 CONDONED THE DELAY IN FILING OF APPEAL. IN THE MEANWHILE, RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED IMPUGNED ORDER AND DIRECTED APPELLANT TO DEPOSIT BALANCE DISGORGEMENT AMOUNT AND PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

171

MANUBHA PRABHATSANG VAGHELA

(PAN:AGIPV6046K)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF EXCEL CASTRONICS LTD.

SAT: SAT VIDE ITS ORDER DATED 05/01/2022 CONDONED THE DELAY IN FILING OF APPEAL. RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND APPELLANTS TO FILE REJOINDER WITHIN THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 11/01/2022 CONDONED THE DELAY OF 14 DAYS IN FILING OF APPEAL AND DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND APPELLANT TO FILE REJOINDER ON OR BEFORE THE NEXT DATE

SAT: SAT VIDE ITS ORDER DATED 25/02/2022 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 07/04/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SEBI VIDE ITS NOTICE DATED 22/07/2022 DIRECTED TO PAY RS.16,45,986.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS NOTICE DATED 20/09/2022 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

SAT: SAT VIDE ITS ORDER DATED 14/09/2022 ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 14/10/2022 DIRECTED TO FILE THE REJOINDER, IF ANY, ON OR BEFORE NEXT DATE

SAT: SAT VIDE ITS ORDER DATED 06/06/2023 REJECTED THE APPLICATION

SEBI VIDE ITS NOTICE DATED 21/03/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.19,51,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG

SAT: SAT VIDE ITS ORDER DATED 23/06/2026 PARTLY ALLOWED THE APPEAL BY REDUCING PENALTY AMOUNT TO RS.5 LAC FROM RS.15 LAC U/S 15HA. NO COSTS

172

MARIA GORETTI WARSI

(PAN:ADGPW7391F)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF SADHNA BROADCAST LTD. USING MISLEADING YOUTUBE VIDEOS WITH FALSE CONTENT BACKED BY PAID MARKETING CAMPAIGN

SAT: SAT VIDE ITS ORDER DATED 17/03/2023 ALLOWED THE APPLICATION FOR EXEMPTION OF CERTIFIED COPY

SAT: SAT VIDE ITS ORDER DATED 27/03/2023 PARTLY ALLOWED THE APPEAL BY SETTING ASIDE IMPUGNED ORDER DATED 02/03/2023 DIRECTING TO A) RESTRAINED FROM TRADING IN SCRIP OF SADHNA BROADCAST LTD. DURING PENDENCY OF INVESTIGATION B) DIRECTED APPELANTS TO DEPOSIT 50% OF ALLEGED UNLAWFUL GAINS IN ESCROW ACCOUNT WITHIN FIFTEEN DAYS FROM DATE OF THIS ORDER AND ALSO GIVE UNDERTAKING WITHIN SAME PERIOD THAT THEY WILL DEPOSIT BALANCE AMOUNT WITHIN THIRTY DAYS FROM DATE OF THIS ORDER, IF ANY, PASSED BY THE WTM C) ESCROW ACCOUNT TO BE KEPT IN INTEREST BEARING ESCROW ACCOUNT A LIEN WILL BE CREATED IN FAVOUR OF SEBI.DIRECTED SEBI TO COMPLETE INVESTIGATION WITHIN SIX MONTHS AND INITIATE APPROPRIATE PROCEEDINGS

SAT: SAT VIDE ITS ORDER DATED 08/01/2024 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 12/02/2024 ALLOWED APPELLANT FURTHER TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 16/04/2024 ALLOWED APPELLANTS ADDITIONAL AND FINAL THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/08/2024 GRANTED APPELLANT TWO MONTHS TO SETTLE THE CASE

SAT: SAT VIDE ITS ORDER DATED 31/07/2025 DIRECTED APPELLANT TO DEPOSIT TOTAL SUM OF RS.60 LAC AFTER ALLOWING CREDIT FOR THE AMOUNT WHICH IS ALREADY DEPOSITED

173

MATWAR MEHRA

(PAN:BGXPM4854N)

CORE GROUP

PAN:BGXPM4854N

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 30/08/2022 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM ANY COMPLAINTS/INVESTORS/CLIENTS, AS FEES OR CONSIDERATION OR IN ANY OTHER FORM, IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES WITHIN THREE MONTHS FROM DATE OF THIS ORDER B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING FORCE OF THIS ORDER C) REPAYMENTS TO COMPLAINTS/INVESTORS, SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) PREVENTED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED. FURTHER, DIRECTED BANK TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE COMPLAINTS/INVESTORS, WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES E) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANT F) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR A PERIOD OF THREE YEARS FROM DATE OF COMPLETION OF REFUNDS TO COMPLAINTS/INVESTORS G) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

SEBI VIDE ITS NOTICE DATED 19/01/2024 DIRECTED TO PAY RS.89,96,499.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 02/09/2024 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

SEBI VIDE ITS NOTICE DATED 14/10/2025 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.1,05,97,392.56 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG

174

MAYURI VERMA

(PAN:AXQPV5977Q)

CAPITAL EXCHANGE INDIA

PAN:AANFC7272K

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 24/01/2022 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM CLIENTS/INVESTORS/COMPLAINTS, AS FEES OR CONSIDERATION OR IN ANY OTHER FORM, IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES WITHIN THREE MONTHS FROM DATE OF THIS ORDER B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING FORCE OF THIS ORDER C) REPAYMENTS TO CLIENTS/INVESTORS TO BE EFFECTED ONLY IN CASH THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) PREVENTED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED. FURTHER, DIRECTED BANK TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS WHO WERE AVAILING THE INVESTMENT ADVISORY E) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANTS F) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR SIX MONTH FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS G) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY OTHER ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI

175

MEENA RAMNIKLAL VIRA

(PAN:AAIPV0510A)

(Along with : HARSHAL RAMNIK VIRA,

BHAVESH GANDHI)

INDULGED IN FRONT RUNNING TRADING ACTIVITIES OF DEALERS OF RELIANCE SECURITIES LTD. AND OTHER CONNECTED ENTITIES VIOLATING REGULATIONS 3(A) TO (D) AND 4(1) & 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 07-AUG-2020 TO 06-AUG-2024

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 07-AUG-2020 TO 06-AUG-2024

DIRECTED TO OPEN ESCROW ACCOUNT WITH A NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED BANKS TO ENSURE COMPLIANCE OF THE DIRECTIONS ISSUED BY SEBI FROM 07-AUG-2020 TO 06-AUG-2024

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 07-AUG-2020 TO 06-AUG-2024

DIRECTED TO DISGORGE RS.77,77,505 ALONG WITH OTHER ENTITIES/PERSONS

07-AUG-2020

SEBI VIDE ITS ORDER DATED 30/06/2021 DIRECTED TO A) RESTRAINED FROM BUYING, SELLING OR DEALING IN THE SECURITIES MARKET OR ASSOCIATING THEMSELVES WITH SECURITIES MARKET, EITHER DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER TILL FURTHER DIRECTIONS B) CEASE AND DESIST FROM UNDERTAKING ANY ACTIVITY IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER TILL FURTHER DIRECTIONS C) DURING THE PERIOD OF RESTRAINT EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS AND DEMAT ACCOUNTS SHALL REMAIN FROZEN

SAT: SAT VIDE ITS ORDER DATED 14/09/2021 ALLOWED APPELLANT THREE WEEKS TIME TO FILE REJOINDER

SEBI VIDE ITS ORDER DATED 30/01/2023 DIRECTED TO A) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER MANNER, FOR FOUR YEARS B) DISGORGED AMOUNT OF WRONGFUL GAINS RS.77,77,504.90 ALONG WITH INTEREST OF 12% FROM JOINTLY AND SEVERALLY

SAT: SAT VIDE ITS ORDER DATED 07/06/2023 CONDONED THE DELAY IN FILING OF APPEAL. IN THE MEANWHILE, RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED IMPUGNED ORDER AND DIRECTED APPELLANT TO DEPOSIT BALANCE DISGORGEMENT AMOUNT AND PENALTY AMOUNT WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

176

MEETA TUSHARBHAI TANNA

(PAN:APVPT3740G)

INDULGED IN CREATION OF ARTIFICIAL MARKET AND PRICE MANIPULATION IN SCRIP OF EXCEL CASTRONICS LTD.

177

MOHAMMED HUSAIN NADEEM

(PAN:ABAPN1418Q)

EPIC RESEARCH PVT.LTD.

PAN:AADCE1112D

INVESTMENT ADVISORS DID NOT ADHERE TO CERTIFICATION REQUIREMENT WITHIN TIMELINE

DID NOT HAVE REQUISITE QUALIFICATIOS TO DEAL WITH CLIENTS IN AREA OF SELECTION OF SERVICE/PRODUCTS

COLLECTED INSUFFICIENT AND INCOMPLETE INFORMATION WITHOUT SUPPORTING DOCUMENTS THROUGH RISK PROFILING QUESTIONNAIRE

SOLD MULTIPLE ADVISORY SERVICES TO CLIENTS BY FREQUENTLY UPDATING/CHANGING RISK PROFILE

SOLD ADVISORY SERVICES/PRODUCTS TO CLIENTS WITHOUT ENSURING SUITABILITY OF ADVICE ACCORDING TO THEIR RISK PROFILE

DID NOT TRANSPARENT TO CLIENTS REGARDING ADVISORY FEES AND CHARGED UNREASONABLE FEES

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 19-APR-2021 TO 18-APR-2024

CEASED & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET INCLUDING ACTIVITY OF ACTING AND REPRESENTING THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) AS AN INVESTMENT ADVISOR, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 19-APR-2021 TO 18-APR-2024

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT NOT TRANSFERRED SECURITIES HELD JOINTLY OR SEVERALLY

CEASE AND DESIST WITH EPIC OR ANY OTHER INVESTMENT ADVISERS, FROM COMMISSION OR OMISSION OF ANY ACTIVITY AMOUNTING TO FRAUD

18-DEC-2019

SEBI VIDE ITS ORDER DATED 19/04/2021 DIRECTED TO RESTRAIN FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER WHATSOEVER, FOR THREE YEARS FROM DATE OF THIS ORDER

178

MOHAMMEDIDRISH A.SHAIKH

(PAN:JROPS3987L)

INDULGED IN FRONT RUNNING TRADING ACTIVITIES OF DEALER OF INDIA INFOLINE GROUP AND OTHER CONNECTED ENTITIES VIOLATING SECTIONS 12A (A) TO (C) & (E) OF SEBI ACT, 1992 READ WITH REGULATIONS 3(A) TO (D), 4(1) AND 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 01-OCT-2020 TILL FURTHER ORDERS

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 01-OCT-2020 TILL FURTHER ORDERS

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 01-OCT-2020 TILL FURTHER ORDERS

DIRECTED TO OPEN ESCROW ACCOUNT WITH A NATIONALISED BANK JOINTLY OR SEVERALLY AND DEPOSIT IMPOUNDED AMOUNT TO BE PROCEEDS GENERATED FROM FRONT RUNNING TRADES WITHOUT PERMISSION FROM SEBI

DIRECTED TO FREEZE BANK ACCOUNTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

01-OCT-2020

SEBI VIDE ITS ORDER DATED 31/08/2021 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 01/10/2021

179

MOHIT CHHAPARWAL

(PAN:AGOPC0896Q)

HIGHBROW MARKET RESEARCH PVT.LTD.

PAN:AACCH8077M

INDULGED IN NON-GENUINE INVESTMENT ADVISORY ACTIVITY VIOLATING CLAUSES 1 TO 6 AND 8 OF CODE OF CONDUCT FOR INVESTMENT ADVISERS READ WITH REGULATION 15(9) OF (INVESTMENT ADVISORS) REGULATIONS, 2013

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 20-SEP-2023 TO 19-SEP-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 20-SEP-2023 TO 19-SEP-2024

CEASED & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET INCLUDING ACTIVITY OF ACTING AND REPRESENTING THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) AS AN INVESTMENT ADVISOR, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 20-SEP-2023 TO 19-SEP-2024

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT NOT TRANSFERRED SECURITIES HELD JOINTLY OR SEVERALLY

RESTRAINED FROM ASSOCIATED WITH ANY OTHER LISTED COMPANY OR SEBI REGISTERED INTERMEDIARY IN ANY CAPACITY INCLUDING DIRECTOR OR KEY MANAGERIAL PERSON DIRECTLY OR INDIRECTLY FROM 20-SEP-2023 TO 19-SEP-2024

23-MAY-2019

SEBI VIDE ITS ORDER DATED 30/01/2020 CONFIRMED DIRECTIONS ISSUED VIDE ITS EX-PARTE AD-INTERIM ORDER DATED 23/01/2019

SEBI VIDE ITS ORDER DATED 20/09/2023 DIRECTED TO A) DEBARFROM ACCESSING SECURITIES MARKET, DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER, FOR ONE YEAR FROM DATE OF THIS ORDER AND B) PROHIBITED FROM HOLDING POSITION OF A DIRECTOR OR A KEY MANAGERIAL PERSONNEL IN ANY LISTED COMPANY OR REGISTERED INTERMEDIARIES

180

MRUGESH B.DEVASHRAYI

(PAN:AGUPD3529P)

BRH WEALTH KREATORS LTD.

CIN:100717
PAN:AACCB5141L

DID NOT MAINTAIN SEGREGATION BETWEEN OWN FUNDS AND CLIENTS FUNDS & SECURITIES

DID NOT UNPLEDGE AND RETURN SECURITIES TO CLIENTS UPON FULFILMENT OF PAY-IN-OBLIGATION

MADE UNAUTHORISED TRANSFER OF SHARES FROM CLIENT�S DEMAT ACCOUNTS

PROVIDED MISLEADING INFORMATION TO STOCK EXCHANGES

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 07-OCT-2019

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 07-OCT-2019

CEASED AND DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 07-OCT-2019

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR TO CREATE OR INVOKE OR RELEASE ANY INTEREST OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF NSE AND BSE

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS

DIRECTED BANKS TO ENSURE THAT NO DEBITS ARE MADE IN BANK ACCOUNTS HELD JOINTLY OR SEVERALLY

07-OCT-2019

SEBI VIDE ITS ORDER DATED 02/01/2020 CONFIRMED ITS DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 07/10/2019

SEBI VIDE ITS ORDER DATED 11/01/2023 VACATED THE DIRECTIONS ISSUED EX-PARTE AD INTERIM ORDER DATED 07/10/2019 READ WITH CONFIRMATORY ORDER DATED 06/12/2019

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