sebi:QJA/AA/SRO/SRO/30035/2023-24
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Facts / Headnote
Noticee found to have acted as unregistered investment adviser; directions including refund to investors and market access ban for 6 months
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
- s. 11B
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 2
- Reg. 3(a)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(1)
Parties
- Mr. Santhoshkumar Ravi
Holding
The Noticee provided BTST trading recommendations for consideration without obtaining registration as an investment adviser from SEBI, in contravention of Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations, 2013. Directions were issued including refunds to investors and a 6-month restraint from accessing the securities market.
Full text
Order in the matter of Unregistered Investment Advisory Services by Mr. Santhoshkumar Ravi Page 2 of 23 Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) and any other Rules or Regulations made thereunder, by the Noticee.
Order in the matter of Unregistered Investment Advisory Services by Mr. Santhoshkumar Ravi Page 3 of 23 9 Copy of SEBI’s email dated 05.04.2023 sent to the Noticee 10 Reply of the Noticee received vide email dated 10.04.2023 11 Copy of KYC documents, transaction statement received from Razorpay 12 Copy of AoF, KYC documents and bank statement received from Indian Bank 13 Copy of email dated 21.04.2023 received from client/investor, Manikandan K 14 Copy of email dated 24.04.2023 received from client/investor, Jeganath R 15 Copy of email dated 15.04.2023 received from the Noticee 16 Copy of email dated 25.04.2023 received from the Noticee 17 Details of credits received in the Razorpay payment gateway account in respect of investment advisory services 18 Details of credits received in the Indian Bank account no. 065xxxx242 in respect of investment advisory services
Order in the matter of Unregistered Investment Advisory Services by Mr. Santhoshkumar Ravi Page 4 of 23 (iv) If You Want My Premium Services, then Open a Account Using my Referral Links and Join our Classes. You will get Premium Services lifetime for FREE* FREE AMC CHARGES FREE ACCOUNT OPENING CHARGES 20RS PER TRADE IN ALL SEGMENTS NO HIDDEN CHARGES
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Source: SecMarx — sebi:QJA/AA/SRO/SRO/30035/2023-24. 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.