sebi:Order/AP/VS/2020-21/10746
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Penalty imposed on the Noticee for acting as an unregistered Investment Adviser
Provisions invoked
- s. 15
- s. 12(1)
- s. 15H
- s. 15I
- s. 15J
- s. 15F
- s. 28A
Regulations
- Reg. 2
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Mr. Adil Shamsi
Holding
The Noticee, Mr. Adil Shamsi, was found to have violated section 12(1) of the SEBI Act, 1992 read with regulation 3(1) of the IA Regulations, 2013 by acting as an unregistered Investment Adviser, and a monetary penalty of ₹1,00,000 was imposed under section 15HB of the SEBI Act.
Full text
_______________________________________________________________________________ Adjudication Order in respect of Mr. Adil Shamsi in the matter of Unregistered Investment Adviser Page 2 of 10 client..'. The Noticee don't have any registered invested client, it only forward RSL recommendation to their client with disclaimers and they trade themselves as they all are online traders.
_______________________________________________________________________________ Adjudication Order in respect of Mr. Adil Shamsi in the matter of Unregistered Investment Adviser Page 3 of 10 Table No. 2 Account Holder name Bank Name Account No IFSC code NSE BSE Advisor Axis Bank 282010200005432 UTIB0000282 Adil Shamsi ICICI Bank 019001515032 ICIC0000190 Adil Shamsi HDFC Bank 030316000000511 HDFC0000303 Adil Shamsi SBI Bank 10334396769 SBIN0002581
_______________________________________________________________________________ Adjudication Order in respect of Mr. Adil Shamsi in the matter of Unregistered Investment Adviser Page 4 of 10 transferred pertains to advisory related services. First transaction noted was on 27.12.2007 and last transaction was on 07.12.2015. transactions has been found where fund has been transferred pertains to advisory related services. First transaction noted was on 02.03.2009 and last transaction was on 05.12.2015. instances/ transactions has been found where fund has been transferred pertains to advisory related services. First transaction noted was on 04.04.2012 and last transaction was on 25.11.2015. Various words such as Subscription, Advisory, Fees, Membership, Titanium, Platinum, Tips, trial pack, for calls, for loss recover etc. has been used in transaction descriptions.
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:Order/AP/VS/2020-21/10746. 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.