MUMBAI: The Securities and Exchange Board of India (SEBI) has barred stock broker Prabhudas Lilladher Private Limited from taking up any new assignments for seven days starting December 15, 2025.
The action came after SEBI found that the firm violated several rules related to client funds, margins, reporting and brokerage.
The order, issued by SEBI’s Chief General Manager N. Murugan, said the broker cannot take on any new contracts or launch any new schemes during the seven-day restriction period.
SEBI’s action follows a joint inspection carried out by SEBI, NSE, BSE and MCX for the period between April 1, 2021 and October 31, 2022.