sebi:QJA/AA/WRO/WRO/26660/2023-24
Facts / Headnote
Directions issued against Noticee No. 3 (Mr. Ramesh Babu) for refund of fees, public notice, asset restraint, and reporting; Noticee Nos. 1 and 2 not found liable for the charged violations
Provisions invoked
- s. 19
- s. 12(1)
- s. 11B
- s. 12
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 15E
Regulations relied on
- SEBI (Investment Advisers) Regulations, 2013 — 2(1)(l)
- SEBI (Investment Advisers) Regulations, 2013 — 2(1)(m)
- SEBI (Investment Advisers) Regulations, 2013 — 3(1)
Parties
- Investocare Financial Research (Noticee No. 1)
- Noticee No. 2
- Mr. Ramesh Babu (Noticee No. 3)
Holding
Noticee No. 3 (Mr. Ramesh Babu), acting on behalf of the firm 'Investo cares', was found to have acted as an unregistered investment adviser in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, and was directed to refund fees, issue public notices, and refrain from disposing of assets. No evidence was found connecting Noticee Nos. 1 and 2 to the charged investment advisory activities.
Full text
Order in respect of Investocare Financial Research & Others In the matter of Unregistered Investment Advisory activities Page 2 of 25
Order in respect of Investocare Financial Research & Others In the matter of Unregistered Investment Advisory activities Page 3 of 25
Order in respect of Investocare Financial Research & Others In the matter of Unregistered Investment Advisory activities Page 4 of 25
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Source: SecMarx — sebi:QJA/AA/WRO/WRO/26660/2023-24. 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.