Regulatory Actions

Entity / Individual Name Date of Order Details of the Order Order Passed By
M/s Vikas Chemi Gums (India) Limited May 16, 2006 Expelled from the membership of the Exchange and shall not be eligible to apply for the membership for a period of three years from the date of the order Relevant Authority of the Exchange
Mr. B.D. Agarwal
Managing Director,
M/s Vikas Chemi
Gums (India) Limited
May 16, 2006 Not eligible to apply for the membership of the Exchange in any capacity for a period of three years from the date of the order Relevant Authority of the Exchange
M/s Sushilkumar Ratanlal Khowal
December 01, 2006 For repeated violations of open position limits - 
Suspended from it's membership of all recognised Commodity Exchanges in India and prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised Commodity Exchange of any goods or class of goods for a period from January 09, 2007 to January 14, 2007.
Forward Markets Commission
M/s B.M. Agro Industries (P)Ltd
December 01, 2006 For repeated violations of open position limits -
Suspended from it's membership of all recognised Commodity Exchanges in India and prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised Commodity Exchange of any goods or class of goods for a period from January 09, 2007 to January 14, 2007.
Forward Markets Commission
M/s Madhya Bharat (International) Pvt. Ltd.
December 01, 2006 For repeated violations of open position limits -
Suspended from it's membership of all recognised Commodity Exchanges in India and prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised Commodity Exchange of any goods or class of goods for a period from January 09, 2007 to January 11, 2007.
Forward Markets Commission
M/s Dayal Agro Products Ltd.
December 01, 2006 For repeated violations of open position limits -
Suspended from it's membership of all recognised Commodity Exchanges in India and prohibited from entering into any forward contract for sale or purchase in his own name or through another member of recognised Commodity Exchange of any goods or class of goods for a period from January 09, 2007 to January 11, 2007.
Forward Markets Commission
M/s Globe Commodity Pvt. Ltd.
December 01, 2006 For repeated violations of open position limits -
Member is warned to be careful in future.
Forward Markets Commission
M/s Bhagyashree Commodities & Derivatives Pvt. Ltd.
December 01, 2006 For repeated violations of open position limits -
Member is warned to be careful in future.
Forward Markets Commission
M/s Kunvarji Commodities Brokers Pvt. Ltd.
December 01, 2006 For repeated violations of open position limits - Member is warned to be careful in future. Forward Markets Commission
M/s Reymount Commodities Private Limited July 25, 2007 Suspension of membership for a period of six months. The trading terminals deactivated with effect from end of the day August 01, 2007. Relevant Authority of the Exchange
M/s. Pritam Vinay Commodity House January 02, 2008, 

February 12, 2008,


March 28, 2008

April 29, 2008 and


June 26, 2008

For engaging in off market trades in commodity futures without receiving margin monies, carrying out most of the trades in cash only and irregularities in the client registration applications/agreements -
The terminals has been disabled of the said member for 90 days wef. 02/01/2008.

In continuation of the aforesaid Orders, the trading terminals shall continue to remain disabled till 30/04/2008.

In continuation of the aforesaid Orders, the trading terminals shall continue to remain disabled for a further period of two months from 30/04/2008.

In continuation of the aforesaid Orders, the trading terminals shall continue to remain disabled till 31/08/2008.
Forward Markets Commission
Premium Global Commodities & Derivatives Pvt. Ltd. April 15, 2008
  1. The member is refrained from participating in the commodities segment till the investigation in respect of his involvement in the activities of M/s Profit Commodity/Commodities is completed

  2. The trading terminals of the said M/s. Premium Global Commodities & Derivatives Pvt. Ltd. are hereby ordered to be disabled until further orders in this regard

    Note:
    The trading terminals of M/s.Premium Global Commodities (00394) have been activated on May 17, 2008 till further orders as per the order dated May 15, 2008 of the Hon 'ble High Court of Madhya Pradesh At Indore.
Forward Markets Commission
Partners of the M/s. Profit Commodities, Indore

1) Shri Sachin Jain

D-10, Raj Plaza,
Sanyogitaganj,
Chhavani, Indore 452 001

Resi: 785, Usha Nagar (Extension),
Indore,
M.P. 452 009

2) Shri Jitender Bafna

D-10, Raj Plaza,
Sanyogitaganj,
Chhavani, Indore 452 001

Resi: 18/2, North Harsiddhi,
P. S. Rauji Bazar,
Indore,
M. P. 452 007
April 15, 2008 The partners of the said M/s Profit Commodities, Indore viz. Shri Jitendra Bafna and Shri Sachin Jain be debarred from dealing in commodities market in any capacity till the investigation is concluded. Forward Markets Commission