sebi:ED/MK/NRO/NRO/21306/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 19
Regulations
- Reg. 7
- Reg. 6
- Reg. 13
- Reg. 6(1)
- Reg. 7(2)
- Reg. 8
- Reg. 2(e)
- Reg. 7(2)(d)
Parties
- Multibagger Securities Research & Advisory Pvt. Ltd.
Holding
The excerpt records SEBI’s finding that, apart from the experience letter and Forms 16, it had no other document supporting Shri Manish Kumar Goyal’s claimed employment with Maco Securities until an employment confirmation was emailed and received within eight minutes. The excerpt does not include the operative decision on MSRAPL’s registration application.
Full text
Order in respect of application submitted by Multibagger Securities Research & Advisory Pvt. Ltd. Page 2 of 20 c. With regard to experience details of proposed Principal Officer, Shri Manish Kumar Goyal, the following details were mentioned in the application: Company Name Designation Area of Work Nature of Work Experience (yrs) Ranbaxy Laboratories Ltd. Finance Manager Research & Development Budgetary Exercise & Cost Monitoring June 2006 to January 2010 Manish Goel & Co. Proprietor Professional Services* Accounts, Audit, Taxation June 2011 to March 2017 Multibagger Securities Research & Advisory Pvt. Ltd. Principal Officer and Director Investment Adviser Stock Market Advisory May 29, 2017 till the filing of application i.e. on October 30, 2020 Independent Stock Market Investing - - Investing and Trading 2008 till date Independent Research Analyst - - Advised to market investors by giving them multibagger value picks November 2011 to March 2014
Order in respect of application submitted by Multibagger Securities Research & Advisory Pvt. Ltd. Page 3 of 20 5. MSRAPL vide its response dated February 16, 2021 submitted inter-alia as under: Sr. No. Role Description Total Experience Supporting Documents
Order in respect of application submitted by Multibagger Securities Research & Advisory Pvt. Ltd. Page 4 of 20 Deduction at Source by the employer, submission of the same to the Income Tax Authorities, etc. therefore, veracity of Form 16 could not be established as the same is not a documents submitted to the Income Tax Authorities. Since the information submitted by MSRAPL w.r.t experience requirements was not satisfactory, MSRAPL, vide emails/letters dated 12.07.2021, 30.07.2021, 03.08.2021 and 16.08.2021 was advised to submit appropriate substantiating documents like bank account statement of Shri Manish Kumar Goyal for the period 01.08.2004 to 30.05.2006, towards the proof of salary drawn by him from M/s Maco Securities Pvt. Ltd.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:ED/MK/NRO/NRO/21306/2022-23. 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.