sebi:QJA/SS/MIRSD/MIRSD-SEC-3/31145/2024-25
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Facts / Headnote
Certificate of registration cancelled with directions to permit withdrawal and cease services
Provisions invoked
- s. 19
- s. 12(1)
- s. 12(3)
Regulations
- Reg. 7
- Reg. 13
- Reg. 16
- Reg. 9
- Reg. 17
- Reg. 8
- Reg. 15
- Reg. 14
- Reg. 7(2)
- Reg. 18
- Reg. 19
- Reg. 2(m)
- Reg. 19(1)
- Reg. 27
- Reg. 26
- Reg. 32
- Reg. 2(l)
- Reg. 27(1)
- Reg. 13(e)
- Reg. 6(n)
Parties
- Ketan Bora Proprietor of the Insane Traders, SEBI Registration No. INA000007793
Holding
The certificate of registration of Mr. Ketan Bora Proprietor of the Insane Traders (INA000007793) as an investment adviser is cancelled. He is directed to allow clients to withdraw funds collected after April 21, 2021 without additional cost and to cease forthwith any investment advisory service and representation as SEBI-registered investment adviser without fresh registration.
Full text
Order in respect of Ketan Bora Proprietor of the Insane Traders Page 2 of 19 Proprietor of the Insane Traders, SEBI Registration No. INA000007793, as an investment adviser may be cancelled.
Order in respect of Ketan Bora Proprietor of the Insane Traders Page 3 of 19 Abhay Kumar. He reiterated his earlier responses before the DA and sought time of 10 days to file post hearing written submissions which was granted. The written submission of Mr. Ketan Bora was received on December 28, 2024.
Order in respect of Ketan Bora Proprietor of the Insane Traders Page 4 of 19 (i) That he has not made any fake promises to the subscribers, has not guaranteed returns of any kind, has not charged exorbitant fees for his services, has not committed any fraud, has refunded where payments were made by mistake, has no complaints against him on SCORES and did not trade in his personal accounts during the period of service.
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Source: SecMarx — sebi:QJA/SS/MIRSD/MIRSD-SEC-3/31145/2024-25. 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.