sebi:QJA/GR/MIRSD/MIRSD-SEC-1/31004/2024-25
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Facts / Headnote
Noticees found liable for violations; directions for refund, public notice, and penalties under Sections 15EB and 15HA of the SEBI Act
Provisions invoked
- s. 15
- s. 12(1)
- s. 11B
- s. 12
- s. 11
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 13
- Reg. 16
- Reg. 3(a)
- Reg. 3(1)
- Reg. 4(2)(k)
- Reg. 2(1)(u)
Parties
- Optionsmaster Research Advisory Services (Noticee No. 1, proprietor Mr. Somnath Subhash Patil)
- Om Consultancy (Noticee No. 2, proprietor Mr. Surajkumar Lalaji Dubey)
Holding
The Noticees were found to have acted as unregistered Investment Advisers in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations, and to have engaged in fraudulent and manipulative activities in violation of Section 12A(a), (b), (c) of the SEBI Act read with the PFUTP Regulations. The Noticees were held liable for penalty under Sections 15EB and 15HA of the SEBI Act, with directions for refund of amounts collected from clients.
Full text
_____________________________________________________________________________________________ Order in the matter of Optionsmaster Research Advisory Services Page 2 of 27
_____________________________________________________________________________________________ Order in the matter of Optionsmaster Research Advisory Services Page 3 of 27
_____________________________________________________________________________________________ Order in the matter of Optionsmaster Research Advisory Services Page 4 of 27
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Source: SecMarx — sebi:QJA/GR/MIRSD/MIRSD-SEC-1/31004/2024-25. 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.