Mumbai, Nov. 29 -- The Securities and Exchange Board of India (Sebi) has prohibited stock broker Prabhudas Lilladher Pvt. Ltd from taking on any new assignment, contract, or launching a new scheme for seven days after it found lapses in key market-risk and investor-protection rules.

The prohibition on new business will take effect on 15 December 2025.

Sebi established 11 violations based on inspection findings and the broker's own submissions to the markets regulator in its enquiry order, issued on Friday, by chief general manager N. Murugan.

Although the regulator took note of corrections made after inspection, as well as small monetary values in some instances and penalties already paid in related proceedings, it held that the breach...