sebi:QJA/MN/MIRSD/MIRSD-SEC-3/31574/2025-26
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Facts / Headnote
Regulatory censure issued with directions to desist and notify board
Provisions invoked
- s. 19
- s. 12(3)
- s. 188
Regulations
- Reg. 15
- Reg. 23
- Reg. 15(3)
- Reg. 27
- Reg. 26
- Reg. 35
- Reg. 25(1)
- Reg. 2(2)
Parties
- Manoj Jethanand Varyani
Holding
The Noticee violated Regulation 15(3) of the IA Regulations, 2013 by failing to maintain arm's-length distance between Smart Financial and Bestway Smart Financial Pvt Ltd., and a regulatory censure was imposed under Regulations 27 and 35 of the Intermediaries Regulations.
Full text
________________________________________________________________________________ Enquiry Order in the matter of Manoj Jethanand Varyani, Proprietor of Smart Financial Page 2 of 12
________________________________________________________________________________ Enquiry Order in the matter of Manoj Jethanand Varyani, Proprietor of Smart Financial Page 3 of 12
________________________________________________________________________________ Enquiry Order in the matter of Manoj Jethanand Varyani, Proprietor of Smart Financial Page 4 of 12
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Source: SecMarx — sebi:QJA/MN/MIRSD/MIRSD-SEC-3/31574/2025-26. 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.