sebi:QJA/GR/WRO/WRO/30533/2024-25
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Facts / Headnote
Directions issued against the Noticees including refund of money to clients, restriction on sale of assets except for refunds, escrow arrangements, and filing of reports certified by an independent Chartered Accountant; liability not determined against the dissolved company 4W Wealth Management Pvt. Ltd.
Provisions invoked
- s. 12(1)
- s. 12
- s. 28A
- s. 248
- s. 291
- s. 179
- s. 4W
Regulations
- Reg. 3
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(1)(g)
Parties
- Bhavesh P. Bhensdadia (Noticee No.1)
- Rinkalkumar Mohanbhai Chopda (Noticee No.2)
- Parth Kanubhai Patel (Noticee No.3)
Holding
The Noticees were found to have provided investment advisory services without obtaining a certificate of registration from SEBI, in violation of Section 12(1) of the SEBI Act and Regulation 3(1) of the IA Regulations, and directions including refunds were issued against them. No liability was determined against 4W Wealth Management Pvt. Ltd. because the company had been dissolved prior to initiation of proceedings.
Full text
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory activities by 4W Wealth Management Pvt. Ltd.
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory activities by 4W Wealth Management Pvt. Ltd.
_____________________________________________________________________________________________ Order in the matter of unregistered investment advisory activities by 4W Wealth Management Pvt. Ltd.
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Source: SecMarx — sebi:QJA/GR/WRO/WRO/30533/2024-25. 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.