Notice No.   20191106-17   Notice Date   06 Nov 2019
Category   Others   Segment   General
Subject   Declaration of Raghukul Shares India Pvt. Ltd. as Defaulter as well as Expulsion (Clg. No. 6482).

Trading Members of the Exchange are hereby informed that pursuant to declaration of Raghukul Shares India Pvt. Ltd. as Defaulter as well as its Expulsion by NSE vide its circular no. NSE.: 54/2019 dated November 4, 2019 w.e.f. November 4, 2019, the Exchange has declared Raghukul Shares India Pvt. Ltd. (Clg. No.  6482), a corporate Trading Member of the Exchange as Defaulter, in terms of the provisions of SEBI Circular No. SEBI/MIRSD/Master Cir-04/2010 dated March 17, 2010 and also Expelled the said Trading Member in compliance with the requirement of Circular No. F. No. 1/26/SE/91 dated August 12, 1991 issued by Ministry of Finance (Department of Economic Affairs), Government of India w.e.f. November 5, 2019.

Investors having any outstanding claims against Raghukul Shares India Pvt. Ltd. are advised to file their claims with the Exchange, if they so desire, within 90 days from the date of issue of this notice i.e. by February 4, 2020 (specified date), as provided under SEBI Circular No. MRD/DoP/SE/Cir-38/2004 dated October 28, 2004, circular No. MRD/DP/06/2011 dated June 16, 2011, circular no. SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 and any other modifications/circulars as may be issue by SEBI in this regard, from time to time.

The investors can file their claim against Raghukul Shares India Pvt. Ltd. at the concerned regional Investor Centre of BSE Ltd., the list of which is available on Exchange’s website at the following link:

The investors can also lodge their claims through Exchange’s website under e-Complaint Registration, a link for which is given below:

The investors are hereby advised to go through the documentation requirement for filing their claim against defaulter, which is available on the Exchange website at following link:

Further, the investors are hereby advised to go through the norms for eligibility of claims for compensation from IPF to the clients of the Defaulter Member which are available on Exchange website at the following link:


The eligible claims filed before the aforesaid specified date would be considered for compensation from the Investor Protection Fund (IPF), as per the provision of SEBI circular no. CIR/MRD/DP/28/2014 dated September 29, 2014 to the maximum extent of Rs. 15 Lacs per client. Further investors filing their claims after the specified date are required to provide reasons for delay in filing the claim and should satisfy the IPF that the claim could not have been filed before the specified date for the reasons beyond the control of the claimant.



Gopalkrishnan Iyer                                                            Hemant Dharap

Chief General Manager                                                    Deputy General Manager 

Brokers Supervision, Membership Compliance       Membership Compliance

and Investor Services                                                       and Investor Services