sebi:QJA/AA/WRO/WRO/28036/2023-24
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Facts / Headnote
Violation established ex-parte; refund of Rs.9,64,144.91, public notice and reporting, asset/bank restraint for refund, 2-year market debarment, and total Rs.2,00,000 monetary penalty imposed
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
- s. 11B
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 2(1)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Mr. Ashish Singh, Proprietor - M/s. Profit Gainer Financial Services
Holding
SEBI held Mr. Ashish Singh, Proprietor of M/s. Profit Gainer Financial Services, 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, 2013, and directed refund of Rs.9,64,144.91, 2-year securities market debarment, and Rs.1,00,000 each under Sections 15HB and 15EB.
Full text
Order in respect of Mr. Ashish Singh, Proprietor –M/s. Profit Gainer Financial Services Page 2 of 21 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 Mr. Ashish Singh, Proprietor –M/s. Profit Gainer Financial Services Page 3 of 21 (b) On receipt of complaint, SEBI undertook further examination into the activities of the Noticee which, inter alia, revealed that the Noticee was running a website with a domain name http://www.pgfs.in.
Order in respect of Mr. Ashish Singh, Proprietor –M/s. Profit Gainer Financial Services Page 4 of 21 “Profit Gainer Financial Services is a leading stock market advisory company in India specialized in offering effect stock trading recommendation to the stock cash investors and traders trading in NSE and BSE in India.”
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Source: SecMarx — sebi:QJA/AA/WRO/WRO/28036/2023-24. 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.