sebi:QJA/AA/WRO/WRO/30066/2023-24
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Facts / Headnote
Noticee found in violation of Section 12(1) of the SEBI Act, 1992, Regulation 3 of the IA Regulations, and Regulations 4(2)(k) and 4(2)(s) of the PFUTP Regulations, 2003; debarred from accessing the securities market for three years and directed to cease investment advisory activities and refund amounts collected.
Provisions invoked
- s. 19
- s. 12(1)
- s. 11B
- s. 12A
- s. 12
- s. 11
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 3(a)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 4(2)(k)
- Reg. 4(2)(s)
Parties
- Mr. Heet Manish Bapna alias Heet Manish Bafna (Proprietor - Standard Chartists)
Holding
The Noticee, through his proprietorship concern 'Standard Chartists', was acting as an investment adviser without registration, violating Section 12(1) of the SEBI Act and Regulation 3 of the IA Regulations, and by falsely representing himself as SEBI-registered, violated Regulations 4(2)(k) and 4(2)(s) of the PFUTP Regulations. The Noticee was debarred from accessing the securities market for three years and directed to cease advisory activities and refund collected amounts.
Full text
Order in respect of Mr. Heet Manish Bapna alias Heet Manish Bafna (Proprietor- Standard Chartists) in the matter of Unregistered Investment Advisory Services Page 2 of 26
Order in respect of Mr. Heet Manish Bapna alias Heet Manish Bafna (Proprietor- Standard Chartists) in the matter of Unregistered Investment Advisory Services Page 3 of 26
Order in respect of Mr. Heet Manish Bapna alias Heet Manish Bafna (Proprietor- Standard Chartists) in the matter of Unregistered Investment Advisory Services Page 4 of 26
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Source: SecMarx — sebi:QJA/AA/WRO/WRO/30066/2023-24. 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.