sebi:QJA/AA/WRO/WRO-DIV-5/31173/2024-25
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation established; refund of fees, public notice, asset restraint, 1-year debarment and Rs. 1,00,000 penalty imposed
Provisions invoked
- s. 11
- s. 11(1)
- s. 12(1)
- s. 11B
- s. 12
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 439
Regulations
- Reg. 7
- Reg. 3
- Reg. 16
- Reg. 8
- Reg. 15(5)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 19
- Reg. 15(7)
Parties
- Mr. Chanchal Agrawal (Proprietor of www.sharepati.com)
Holding
The Noticee 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. He was directed to refund Rs. 54,35,707 collected as fees, debarred from the securities market for one year, and imposed a penalty of Rs. 1,00,000 under Section 15HB.
Full text
Order in respect of Mr. Chanchal Agrawal (Proprietor of www.sharepati.com) Page 2 of 20 email, one Mr. Prashant Uchil (hereinafter referred to as ‘Complainant’) made payments amounting to Rs. 15,000 and Rs. 25,000 on July 19, 2016 and July 21, 2016 in bank account no. 044101601000239 maintained with Corporation Bank.
Order in respect of Mr. Chanchal Agrawal (Proprietor of www.sharepati.com) Page 3 of 20 Table 1: Annexures to the SCN Documents Annexure Copy of complaint from M/s. Achiievers Equities Ltd. A Screenshots of the webpages from website www.sharepati.com of Noticee taken from web.archive.org B Website screenshots provided by M/s. Achiievers Equities Ltd. C KYC/AOF details and statement of Erstwhile Corporation Bank (Merged with Union Bank of India) Bank account of Noticee D KYC/AOF details and statement of SBI account of Noticee E KYC/AOF details and statement of Bank of Baroda account of Noticee F Copy of letters issued by SEBI dated November 26, 2021 to the Noticee, during pre-SCN examination. G Copy of email dated November 29, 2021 received from Noticee in reply to SEBI’s letter dated November 26, 2021. H
Order in respect of Mr. Chanchal Agrawal (Proprietor of www.sharepati.com) Page 4 of 20 5.2.2. It mentions offering tips around various services such as Stock Cash Tips, Stock Future & Option Tips, Index Future & Option Tips, Bullion Power Tips, Base Metals & Energy Power Tips, Agri Power Tips.
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Source: SecMarx — sebi:QJA/AA/WRO/WRO-DIV-5/31173/2024-25. 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.