sebi:SEBI/WTM/MPB/IMD/ILO/18/2019
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Facts / Headnote
Ad interim ex-parte order restraining Zoid Research / Mr. Tabrez Khan from dealing in securities market, directing asset inventory and freezing of bank/demat accounts pending detailed examination.
Provisions invoked
- s. 19
- s. 12A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 16
- Reg. 17
- Reg. 15
- Reg. 21
- Reg. 7(2)
- Reg. 2(m)
- Reg. 15(9)
- Reg. 2(l)
Parties
- Zoid Research (proprietor Mr. Tabrez Khan)
Holding
SEBI's Whole Time Member passed an ad interim ex-parte order restraining Zoid Research and its proprietor Mr. Tabrez Khan from buying, selling or dealing in the securities market and from acting as an investment adviser, and freezing their bank and demat accounts, pending detailed examination. The order prima facie finds contravention of SEBI Act Section 12A(a),(b),(c), PFUTP Regulations, and multiple IA Regulations.
Full text
Order in the matter of Zoid Research Page 2 of 18 3. On a preliminary examination of the complaints, the documents enclosed therewith and the information available on the website of Zoid Research, it was observed that in its advisory activity, Zoid Research sells to its clients packages such as Stock Cash, Stock futures, Stock/Nifty Option, Nifty/Bank Nifty Future, Commodity Market, NCDEX, Forex, etc., at different price points depending upon the period of subscription. The advisory fee varies from Rs 7,753/- to Rs 6,19,235/- as seen from its website.
Order in the matter of Zoid Research Page 3 of 18 Client’s Name Agreement Date Return Assured (in Rs.) Client’s required exposure/ trading commitment (in Rs.) Service Fee (in Rs.) Anurag Saini 21/02/2017 1,20,000 -- 40,000 Girija Shankar 19/12/2017 1,50,000 1,00,000 47,200 Dharmendra Singh 26/08/2017 10,00,000 2,00,000 3,41,800 Daler Singh 04/10/2017 14,83,000 3,00,000 4,50,000 Daler Singh 03/06/2017 10,00,000 1,00,000 3,80,000 Dharmesh Kumar 25/08/2017 4,50,000 80,000 1,20,000
Order in the matter of Zoid Research Page 4 of 18 E-mail dated May 27, 2017 to client, Shri Jaidev Kumbhakar wherein it is stated that “This is to inform you that your seat has been booked for IDP Commitment Plan of Rs 4.50 lacs Profit”. E-mail dated May 10, 2017 to client, Jovet Jose wherein it is stated “your total commitment profit is INR 10,00,000 in just 3,50,000/- only”. E-mail dated January 11, 2017 to client Harish Parekh wherein it is stated that “This service is totally based on committed profit slab…..”. The e-mail also contains the following table stating the amount of committed profit for each service.
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Source: SecMarx — sebi:SEBI/WTM/MPB/IMD/ILO/18/2019. 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.