sebi:QJA/AA/WRO/WRO/28401/2023-24
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Facts / Headnote
Held Noticee No.1 (Vision Gainers through proprietor Hritik Saraf) and Noticee No.2 (Sandeep Tiwari) acted as unregistered investment advisers in violation of Section 12(1) of SEBI Act read with Regulation 3(1) of IA Regulations; directed individual refunds, asset and bank-debit restraints, debarment and prohibition on securities market activity without registration, with monetary penalty under Section 15EB attracted.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12(1)
- s. 15J
- s. 15F
- s. 15E
Regulations
- Reg. 2
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Vision Gainers (Proprietor: Hritik Saraf)
- Sandeep Tiwari
Holding
Noticee No.1 through its proprietor Hritik Saraf and Noticee No.2 Sandeep Tiwari engaged in investment advisory services without SEBI registration in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations and are liable individually for refund of amounts collected with debarment and restraint from securities market activity without registration.
Full text
Order in respect of Vision Gainers (Prop: Hritik Saraf) & Sandeep Tiwari In the matter of Unregistered Investment Advisory activities Page 2 of 26
Order in respect of Vision Gainers (Prop: Hritik Saraf) & Sandeep Tiwari In the matter of Unregistered Investment Advisory activities Page 3 of 26
Order in respect of Vision Gainers (Prop: Hritik Saraf) & Sandeep Tiwari In the matter of Unregistered Investment Advisory activities Page 4 of 26
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Source: SecMarx — sebi:QJA/AA/WRO/WRO/28401/2023-24. 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.