sebi:QJA/AA/SRO/SRO/29813/2023-24
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Provisions invoked
- s. 11
- s. 15
- s. 19
- s. 11(1)
- s. 12(1)
- s. 11B
- s. 12
- s. 15H
- s. 27
- s. 15J
- s. 15F
- s. 28A
- s. 25
- s. 15E
- s. 114
Regulations
- Reg. 6
- Reg. 3
- Reg. 15
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 5(1)(a)
Parties
- Yogesh Kukadia (Noticee 1)
- Rajesh R. Kallidumbil (Noticee 2)
- Nithin Raj (Noticee 3)
- M/s. Signal2Noise Capital Partners (Noticee 4)
- M/s. CT Web Sales (Noticee 8)
- M/s. ML Telesales (Noticee 9)
- M/s. Investo Investment Advisers
- M/s. SS Info Sales
- M/s. SI Digi Sales
Holding
The order addresses allegations that three entities and six partnership firms and their partners carried out unregistered investment advisory activities in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, 2013. The final disposition/penalty is not stated in the excerpt provided.
Full text
Order in respect of Yogesh Kukadia, Rajesh R. Kallidumbil, Nithin Raj and six partnership firms Page 2 of 50 Signal2Noise Capital Partners and Capital Taj, wherein it had been inter-alia alleged that these three entities were engaged in unregistered investment advisory activities. On examination, SEBI observed that these three entities were being operated by three partnership firms viz M/s.ML Telesales (Noticee 9), M/s. Signal2Noise Capital Partners (Noticee 4) and M/s.CT Web Sales (Noticee 8). It was also observed that Yogesh Kukadia (Yogesh / Noticee 1) and Rajesh R. Kallidumbil (Rajesh / Noticee 2) were partners of M/s. ML Telesales and M/s. CT Websales. Further, Yogesh, Rajesh and Nithin Raj (Nithin / Noticee 3) were partners of M/s.Signal2Noise Capital Partners.
Order in respect of Yogesh Kukadia, Rajesh R. Kallidumbil, Nithin Raj and six partnership firms Page 3 of 50 violating Section 12 (1) of the SEBI Act, 1992 read with Regulation 3 (1) of the SEBI (Investment Advisers) Regulations, 2013 (IA Regulations).
Order in respect of Yogesh Kukadia, Rajesh R. Kallidumbil, Nithin Raj and six partnership firms Page 4 of 50 I Copies of Know Your Customers/Clients (KYC) documents received from banks and payment gateways. J Copy of the submissions made by the payment gateways w.r.t fees collected by the six partnership firms. K Print outs of search results from SEBI intermediary database.
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Source: SecMarx — sebi:QJA/AA/SRO/SRO/29813/2023-24. 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.