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India's SEBI bans Prabhudas Lilladher from new clients for seven days starting Dec. 15, 2025, over fund misuse, false reporting, and poor client handling.
India's securities regulator, SEBI, has banned stockbroker Prabhudas Lilladher from taking on new clients for seven days starting December 15, 2025, over multiple regulatory breaches.
The ban follows a joint inspection from November 2022 covering April 2021 to October 2022, revealing misuse of client funds, including a ₹2.7 crore shortfall in July 2021, inaccurate margin reporting, delayed client account settlements, improper brokerage charges, and passing on exchange penalties to clients.
SEBI rejected claims of technical errors or pandemic-related disruptions, stating the violations compromised investor protection and market integrity.
El SEBI de la India prohíbe a Prabhudas Lilladher recibir nuevos clientes durante siete días a partir del 15 de diciembre de 2025, por mal uso de fondos, informes falsos y mal manejo de clientes.