sebi:EAD-2/DSR/RG/894/2017
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Facts / Headnote
Penalty imposed on the Noticee for acting as an unregistered portfolio manager
Provisions invoked
- s. 15
- s. 12(1)
- s. 12
- s. 15H
- s. 15J
- s. 15F
Regulations
- Reg. 3
- Reg. 9
Parties
- Oxus Investments Private Limited
Holding
The Noticee, Oxus Investments Private Limited, violated Section 12(1) of the SEBI Act, 1992 read with Regulation 3 of the PM Regulations by continuing to act as a portfolio manager after the expiry of its certificate of registration on July 15, 2016, and a monetary penalty of Rs. 10,00,000 was imposed under Section 15HB of the SEBI Act, 1992.
Full text
Page 2 of 12 Appointment of Adjudicating Officer 4. I have been appointed as the Adjudicating Officer, vide order dated October 13, 2017, under Section 15-I of the SEBI Act, 1992 read with Rule 3 of SEBI (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 1995 (hereinafter referred to as the ‘Adjudication Rules’) to inquire into and adjudge under Section 15HB of the SEBI Act, 1992, the alleged violation of the abovementioned provisions of law by the Noticee.
Page 3 of 12 December 15, 2017, Shri Surjit Bhalla once again stated that he is unable to attend the scheduled hearing on December 15, 2015 and further, submitted its reply in the matter.
Page 4 of 12 associated with securities market immediately before the establishment of the Board for which no registration certificate was necessary prior to such establishment, may continue to do so for a period of three months from such establishment or, if he has made an application for such registration within the said period of three months, till the disposal of such application: Provided further that any certificate of registration, obtained immediately before commencement of the Securities Laws (Amendment) Act, 1995, shall be deemed to have been obtained from the Board in accordance with the regulations providing for such registration.
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Source: SecMarx — sebi:EAD-2/DSR/RG/894/2017. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.