sebi:QJA/MN/NRO/NRO-DIV-I/32304/2025-26
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Facts / Headnote
Noticee found in violation; penalties imposed, debarment from securities market for two years, and directions for repayment of unregistered service fees
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 12(1)
- s. 12A
- s. 12
- s. 15H
- s. 15J
- s. 15
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 4
- Reg. 3
- Reg. 3(a)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 4(2)(k)
- Reg. 4(2)(s)
- Reg. 2(1)(o)
- Reg. 2(1)(g)
Parties
- Mr. Yash Garg, Proprietor of Yash Trading Academy
Holding
The Noticee was found to have provided unregistered investment advisory and portfolio management services and engaged in fraudulent and unfair trade practices, resulting in penalties of Rs. 10,00,000 under Section 15HA, Rs. 3,00,000 under Section 15HB, and Rs. 3,00,000 under Section 15EB of the SEBI Act, along with a two-year debarment from the securities market and directions to repay collected fees.
Full text
Page 2 of 32 Order in the matter of Mr. Yash Garg, Proprietor of Yash Trading Academy consideration, however, the Noticee was not registered with SEBI as an investment advisors and/or Portfolio Manager.
Page 3 of 32 Order in the matter of Mr. Yash Garg, Proprietor of Yash Trading Academy iii) penalty be not imposed under section 15HB read with section 11(4A) and 11B(2) of the SEBI Act for violation of section 12(1) of the SEBI Act read with Regulation 3 of the PMS Regulations; iv) penalty be not imposed under section 15HA read with section 11(4A) and 11B(2) of the SEBI Act for the violation of Section 12A(a), (b) and (c) of the SEBI Act read with regulations 3(a), (b), (c), (d), 4(1) and 4(2) (k) of the PFUTP Regulations.
Page 4 of 32 Order in the matter of Mr. Yash Garg, Proprietor of Yash Trading Academy 11. Based on the discussion above, I deem the instant matter to be a fit case to proceed against the Noticee based on the material available on record.
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Source: SecMarx — sebi:QJA/MN/NRO/NRO-DIV-I/32304/2025-26. 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.