sebi:QJA/AA/NRO/NRO-DIV-III/30945/2024-25
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
- s. 11B
- s. 12
- s. 10
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 23
- s. 15E
Regulations
- Reg. 6
- Reg. 3
- Reg. 2(1)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Meenu Sharma / Commodity Pandit (Noticee 1)
- Neha Goel / PC Global Research / M/s P.C. Global Research (Noticee 2)
Holding
Noticee 1 admitted rendering investment advisory services as Commodity Pandit without SEBI registration and Noticee 2, though registered in individual capacity, was found receiving fees in the name of Commodity Pandit and assisting unregistered activity, prima facie violating Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations.
Full text
Order in respect of Commodity Pandit Page 2 of 35 investment advisory services without obtaining a certificate of registration from SEBI, thereby violating Section 12 (1) of the SEBI Act, 1992 read with Regulation 3 (1) of the IA Regulations, 2013.
Order in respect of Commodity Pandit Page 3 of 35 H Complete bank statements received from ICICI Bank for Commodity Pandit / Meenu Sharma I Complete bank statements received from ICICI Bank for PC Global Research /Neha Goel
Order in respect of Commodity Pandit Page 4 of 35 that these payments were linked to the ICICI Bank account of PC Global Research : Sole Proprietor Neha Goel (Noticee 2). Further, it was also observed that there were debit entries from one of the bank accounts of Noticee 2 to the complainant. 4.5 As the bank accounts mentioned at Para 4.4 above belonged to PC Global Research /Neha Goel, information was sought regarding the products / services offered by PC Global Research / Neha Goel /Commodity Pandit vide letter / email dated 28.02.2024 and reminder letter / email dated 30.03.2024. Noticee 2, did not provide the information that was sought, but had replied as “Neha Goyal’ vide email dated 03.04.2024 stating that she has stopped the services by the end of 2020 and had sought additional time to provide the details. Noticee 2 did not deny the allegation of engaging in unregistered investment advisory services. 4.6 Noticee 2, however, did not provide the requisite information. It was observed that the email from which Noticee 2 had sent her reply vide email dated 03.04.2024 was matching with the email ID of registered IA i.e Neha Goel. Further, the correspondence address of noticee 2 was also matching with the registered entity. 4.7 The complainant has however, alleged that he had made a payment to Commodity Pandit through the PayU Money link. Hence, it was inferred that Neha Goel / PC Global Research was receiving fees for advisory services in the name of Commodity Pandit from
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:QJA/AA/NRO/NRO-DIV-III/30945/2024-25. 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.