sebi:WTM/AB/SRO/SRO/15080/2021-22
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Facts / Headnote
Noticees found in violation of Section 12(1) of SEBI Act, 1992 read with Regulation 3(1) of IA Regulations, 2013; directed to refund fees jointly and severally, debarred from securities market for 1 year, and prohibited from undertaking investment advisory services without registration.
Provisions invoked
- s. 19
- s. 12(1)
- s. 25
Regulations
- Reg. 4
- Reg. 3
- Reg. 4(a)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(m)
- Reg. 2(l)
Parties
- Simply Earn Research
- Mr. Animesh Parida
- Mr. Parth R Trivedi
Holding
The Noticees (Simply Earn Research and its partners) were found to have acted as unregistered investment advisers in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, 2013, and were directed to refund Rs. 2,02,76,579/- received through unregistered advisory activities, debarred from the securities market for one year, and prohibited from undertaking investment advisory services without registration.
Full text
Final Order in the matter of Simply Earn Research Page 1 of 24 WTM/AB/SRO/SRO/15080/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA FINAL ORDER
Final Order in the matter of Simply Earn Research Page 2 of 24 33.1.2. not to divert any funds collected from investors, kept in bank account(s) or in their custody;
Final Order in the matter of Simply Earn Research Page 3 of 24 fixed on a specific request to be made by the Noticees. In this regard, Interim
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Source: SecMarx — sebi:WTM/AB/SRO/SRO/15080/2021-22. 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.