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SOURCE OF INFORMATION

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 : 11-JUL-2025

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 BANKS AND DEPOSITORIES TO ENSURE THAT PAY-OUTS AND REDEMPTION/SALE PROCEEDS DEBIT FROM BANK ACCOUNTS ARE ONLY FOR THE PURPOSE OF COMPLIANCE OF THIS ORDER

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person ALKESH NARWARE

(PAN:BQCPN5590D)  
  MISUSED ONLINE TRADING KITS OF INVESTORS

PROMISED GUARANTEE RETURNS FROM ALGO/SOFTWARE-BASED TRADING AND EXECUTION OF FRAUDULENT AND MANIPULATIVE TRADES IN ILLIQUID ‘OUT OF MONEY’ (OTM) STOCK OPTIONS   		DIRECTED TO DISGORGE RS.4,83,11,996 ALONG WITH OTHER ENTITIES/PERSONS

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 20-JUN-2025 TO 19-JUN-2028

IMPOSED PENALTY RS.25,00,000

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 20-JUN-2025 TO 19-JUN-2028

DIRECTED BANKS AND DEPOSITORIES TO ENSURE THAT PAY-OUTS AND REDEMPTION/SALE PROCEEDS DEBIT FROM BANK ACCOUNTS ARE ONLY FOR THE PURPOSE OF COMPLIANCE OF THIS ORDER FROM 20-JUN-2025 TO 19-JUN-2028

20-JUN-2025 		 
2
History of entity/person SHIVPRASAD PATTIYA

(PAN:CSVPP4272J)  
  MISUSED ONLINE TRADING KITS OF INVESTORS

PROMISED GUARANTEE RETURNS FROM ALGO/SOFTWARE-BASED TRADING AND EXECUTION OF FRAUDULENT AND MANIPULATIVE TRADES IN ILLIQUID ‘OUT OF MONEY’ (OTM) STOCK OPTIONS   		DIRECTED TO DISGORGE RS.4,83,11,996 ALONG WITH OTHER ENTITIES/PERSONS

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 20-JUN-2025 TO 19-JUN-2028

IMPOSED PENALTY RS.25,00,000

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 20-JUN-2025 TO 19-JUN-2028

DIRECTED BANKS AND DEPOSITORIES TO ENSURE THAT PAY-OUTS AND REDEMPTION/SALE PROCEEDS DEBIT FROM BANK ACCOUNTS ARE ONLY FOR THE PURPOSE OF COMPLIANCE OF THIS ORDER FROM 20-JUN-2025 TO 19-JUN-2028

20-JUN-2025 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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