Description
Updated list of directors/partners of expelled/defaulter trading members following SAT order regarding Guiness Securities Ltd.
Summary
NSE has updated the list of directors/partners of expelled/defaulter trading members following a Securities Appellate Tribunal (SAT) order dated August 13, 2025. The circular specifically provides details of directors of Guiness Securities Ltd, which was declared a defaulter on May 6, 2019.
Key Points
- Update follows SAT order dated August 13, 2025
- References previous circular NSE/COMP/47716 dated March 23, 2021
- Compliance with sub-rule 4A (iv) and sub-rule 5 under Rule 8 of Securities Contract (Regulations) Rule, 1957
- Guiness Securities Ltd was declared defaulter on May 6, 2019
Directors of Expelled Member
Guiness Securities Ltd (Defaulter since May 6, 2019):
- Soumen Chatterjee (Till 27/11/2018) - PAN: AKFPC1442D
- Tarun Kanti Sengupta - PAN: AJDPS7741N
- Kamal Kumar Kothari - PAN: AKYPK8782D
- Dharmendra Kothari - PAN: AFGPK6680M
Regulatory Changes
No new regulatory changes introduced. This is an update to existing compliance requirements following tribunal directions.
Compliance Requirements
- Trading members must take note of the updated director information
- Maintain awareness of expelled/defaulter member status and associated directors/partners
Important Dates
- August 13, 2025: SAT order date
- May 6, 2019: Date of declaration of Guiness Securities Ltd as defaulter
- November 27, 2018: Last date for director Soumen Chatterjee
Impact Assessment
Medium impact on market compliance as it updates existing records of expelled member directors. This information is relevant for due diligence and compliance purposes when dealing with individuals who were associated with defaulter trading members.
Impact Justification
Update to existing list of expelled member directors following tribunal order affects market participants' compliance records