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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 : 28-AUG-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.

MERCHANT BANKERS: FAILED TO REDRESS INVESTOR/CREDITORS COMPLAINTS

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person POPULAR SHARE & STOCK BROKERS PVT.LTD.  
  INCREASE IN THE NUMBER OF UNRESOLVED COMPLAINTS BY PORTFOLIO MANAGEMENT CLIENTS   DEBARRED FROM UNDERTAKING FRESH BUSINESS AS MERCHANT BANKER FROM 25-JAN-1999

25-JAN-1999 		 
2
History of entity/person SWARAJ SHARES & SECURITIES PVT.LTD.

(PAN:AAGCS8286D)  
  DID NOT EXERCISE PROPER DUE DILIGENCE IN CERTAIN TAKEOVER TRANSACTIONS

DID NOT MAKE DISCLOSURE OF DESIGNATED EMAIL ADDRESS FOR INVESTOR GRIEVANCE ON ITS WEBSITE

DID NOT UPLOAD MONTHLY COMPLAINTS DATA ON ITS WEBSITE

DISCREPANCIES IN PERIODIC REPORTS

DID NOT DISPLAY INFORMATION REGARDING INVESTOR GRIEVANCE REDRESSAL MECHANISM AT ITS OFFICE OFFICES

DID NOT MAINTAIN DESIGNATED EMAIL ADDRESS

DID NOT IDENTIFY AND DESIGNATE A COMPLIANCE OFFICER

DID NOT INCLUDE ITS SUPPORT STAFF IN THE LIST OF DESIGNATED PERSONS

DID NOT MAKE TIMELY ENTRIES IN THE STRUCTURED DIGITAL DATABASE WITH RESPECT TO OPEN OFFERS HANDLED BY THEM

DID NOT INTIMATE SEBI IN CHANGES IN POSITIONS OF DIRECTOR, KEY MANAGERIAL POSITION AND COMPLIANCE OFFICER THROUGH SEBI INTERMEDIARIES PORTAL

CREATED FALSE RECORDS AND SUBMITTED FABRICATED DOCUMENTS TO INSPECTION TEAM

DID NOT REPORT INVESTOR COMPLAINTS AND UNABLE TO PROVIDE ANY SUPPORTING DOCUMENTS WITH RESPECT TO REDRESSAL OF COMPLAINTS   		SUSPENDED REGISTRATION AS MERCHANT BANKER FROM 19-AUG-2025 TO 18-NOV-2025

19-AUG-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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