sebi:QJA/AA/SRO/SRO/28911/2023-24
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Facts / Headnote
Noticee found in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations; directed to refund Rs. 1,39,96,733/- and monetary penalties under Sections 15EB and 15HB attracted; asset sale restrictions imposed for refund purposes.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12(1)
- s. 15H
- s. 15J
- s. 15F
- s. 15E
Regulations
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(m)
Parties
- Profit Your Trade.In (Proprietor - Mr. Patibandla Venkata Vasanta Kumar)
Holding
The Noticee, through its proprietor, was found to have carried on investment advisory activities 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. The Noticee was directed to refund Rs. 1,39,96,733/- collected as an unregistered investment advisor, in addition to monetary penalties under Sections 15EB and 15HB of the SEBI Act, 1992.
Full text
Order in respect of Profit Your Trade.In (Proprietor- Mr. Patibandla Venkata Vasanta Kumar) in the matter of unregistered investment advisory activities Page 2 of 27
Order in respect of Profit Your Trade.In (Proprietor- Mr. Patibandla Venkata Vasanta Kumar) in the matter of unregistered investment advisory activities Page 3 of 27
Order in respect of Profit Your Trade.In (Proprietor- Mr. Patibandla Venkata Vasanta Kumar) in the matter of unregistered investment advisory activities Page 4 of 27
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Source: SecMarx — sebi:QJA/AA/SRO/SRO/28911/2023-24. 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.