sebi:QJA/GR/NRO/NRO/30010/2023-24
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Facts / Headnote
Noticee found in violation of Section 12(1) of the SEBI Act and Regulation 3(1) of the IA Regulations; directed to refund Rs.1,67,24,995/-, debarred from securities market for two years, and penalized Rs.1,00,000 under Section 15HB and Rs.1,00,000 under Section 15EB
Provisions invoked
- s. 15
- s. 12(1)
- s. 11B
- s. 12
- s. 11
- s. 15H
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(1)(g)
Parties
- Mr. Saurabh Verma
Holding
The Noticee was found to have acted as an unregistered investment adviser in violation of Section 12(1) of the SEBI Act and Regulation 3(1) of the IA Regulations, and was directed to refund Rs.1,67,24,995/-, debarred from the securities market for two years, and imposed penalties of Rs.1,00,000 each under Sections 15HB and 15EB of the SEBI Act.
Full text
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Saurabh Verma Page 2 of 18
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Saurabh Verma Page 3 of 18
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory by Mr. Saurabh Verma Page 4 of 18
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Source: SecMarx — sebi:QJA/GR/NRO/NRO/30010/2023-24. 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.