sebi:MC/ST/2020-21/11116
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Facts / Headnote
Violation established; penalty of Rs.1,00,000 imposed under Section 15C of the SEBI Act
Provisions invoked
- s. 15I
- s. 15J
- s. 15
- s. 15C
Regulations
- Reg. 21(1)
Parties
- Mr. Amit Kumar Dewda, Proprietor - M/s. Avid Research Investment Adviser
Holding
The Noticee violated SEBI Circular CIR/OIAE/2014 dated December 18, 2014 read with Regulation 21(1) of IA Regulations by failing to redress three investor complaints within the specified time, and is liable under Section 15C of the SEBI Act. A monetary penalty of Rs.1,00,000 was imposed upon the Noticee.
Full text
Page 2 of 11 Section 15C of SEBI Act, the aforesaid alleged violations against the Noticee. The appointment of the AO was communicated vide order dated December 29, 2020.
Page 3 of 11 change of address of the entity. Also, the website address, i.e. www.avidresearch.in provided to SEBI at the time of obtaining registration, was not operational.
Page 4 of 11 8. The SCN was issued at the following last known address available on record through Speed Post Acknowledgement Due (SPAD) to the Noticee on January 14, 2021, which was returned undelivered by the Postal Department with remarks ‘addressee left without instructions: Bombay Hospital ke pas 558, Gulab Bag, Vijay Nagar Indore, Madhya Pradesh – 452001
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Source: SecMarx — sebi:MC/ST/2020-21/11116. 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.