Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2024
SEBI debt-issue management ban
SEBI prohibited JM Financial from acting as lead manager for public issues of debt securities until March 31, 2025, in a matter involving alleged irregularities in a public issue of non-convertible debentures.
2020
Insider-trading settlement involving an employee
Atul Saraogi, identified as a JM Financial vice president, settled an alleged insider-trading matter with SEBI by paying ₹1.5 million in relation to off-market transactions in JM Financial shares.
2012
SEC registration violation settlement
The SEC fined JM Financial and three other Indian securities firms for soliciting and providing brokerage services to U.S. investors without the registration required by federal securities laws.
2009
Police investigation involving Nimesh Kampani
Nimesh Kampani was investigated over alleged involvement in a matter concerning depositor fraud at Hyderabad-based Nagarjuna Finance. He was reported to have temporarily stayed in Dubai to avoid arrest, and India’s Supreme Court granted a stay on his arrest in April 2009. He later returned to India and eventually stepped away from daily management.