sebi:QJA/GG/QJC/QJC-2/26152/2023-24
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Facts / Headnote
Noticees held liable for unregistered investment advisory; refund of Rs.2,90,80,844, 5-year securities market restraint and Rs.9 lakh penalty imposed
Provisions invoked
- s. 19
- s. 11(1)
- s. 12(1)
- s. 15E
- s. 11B(2)
Regulations
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Muse Traders
- Pure Traders
- Taj Enterprises
Holding
Noticee Nos. 1 to 3 acted as unregistered investment advisers in violation of Section 12(1) of SEBI Act read with Regulation 3(1) of IA Regulations and were directed to refund fees collected, restrained from securities market for 5 years, and penalized Rs.9 lakh jointly and severally.
Full text
_________________________________________________________________________________ Order in the matter of Muse Traders, Pure Traders and Taj Enterprises Page 2 of 14
_________________________________________________________________________________ Order in the matter of Muse Traders, Pure Traders and Taj Enterprises Page 3 of 14
_________________________________________________________________________________ Order in the matter of Muse Traders, Pure Traders and Taj Enterprises Page 4 of 14
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Source: SecMarx — sebi:QJA/GG/QJC/QJC-2/26152/2023-24. 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.