sebi:QJA/GR/ERO/ERO/29911/2023-24
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Ex-parte finding of violation; refund of all fees collected, 2-year securities market debarment, and monetary penalty imposed
Provisions invoked
- s. 19
- s. 12(1)
- s. 11B
- s. 12A
- s. 12
- s. 11
- s. 15H
- s. 15J
- s. 15
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 4
- Reg. 2(1)(c)
- Reg. 12
- Reg. 3(b)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 4(2)(k)
- Reg. 4(2)(s)
- Reg. 2(1)(g)
Parties
- Mr. Ashish Kumar, Proprietor of M/s Shubham Traders
Holding
The Noticee acted as an unregistered investment adviser and committed fraud by assuring guaranteed returns, and was directed to refund Rs.1,23,92,438, debarred from the securities market for two years, and penalized Rs.5,00,000 under Section 15HA and Rs.1,00,000 under Section 15EB.
Full text
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Ashish Kumar, Proprietor of M/s Shubham Traders Page 2 of 22
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Ashish Kumar, Proprietor of M/s Shubham Traders Page 3 of 22
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Ashish Kumar, Proprietor of M/s Shubham Traders Page 4 of 22
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Source: SecMarx — sebi:QJA/GR/ERO/ERO/29911/2023-24. 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.