sebi:WTM/AB/SRO/SRO/21090/2022-23
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Facts / Headnote
Directions issued: refund of fees collected, public notice, deposit of balance with SEBI in escrow, restraint on asset sales, 6-month debarment from securities market, and prohibition on undertaking investment advisory activities without registration.
Provisions invoked
- s. 19
- s. 12(1)
Regulations
- Reg. 3
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 2(m)
Parties
- Pankaj Kumar Shukla, Proprietor: Market Anand
Holding
The Noticees were found to have violated Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, 2013 by carrying out investment advisory activities without obtaining a certificate of registration from SEBI.
Full text
Final Order in the matter of Pankaj Kumar Shukla, Proprietor: Market Anand Page 2 of 14 (i) SEBI received a complaint against M/s. Market Anand. Complainant alleged that that he lost money based on the trading advice provided by M/s. Market Anand. As per the intermediary database on SEBI website, M/s. Market Anand was not registered with SEBI as an investment advisor.
Final Order in the matter of Pankaj Kumar Shukla, Proprietor: Market Anand Page 3 of 14 subsequent to the payment. It is observed that the said transactions are reflecting in the statement provided by Easebuzz viz., transaction Ids, 3I3GTNI5 and 35LFMUXJ. The transaction details are given below:
Final Order in the matter of Pankaj Kumar Shukla, Proprietor: Market Anand Page 4 of 14 Account details Statement Period Total Credits (Rs.) No. of Credit Transactions Last Credit Transaction date Closing Balance Remarks 004705011504 - ICICI Bank 01-01-2019 to 29-11-2019 17,16,255 148 29/11/2019 0.00 Annexure- 9 to the SCN Easebuzz 17-01-2019 to 28-11-2019 38,22,785 311 28/11/2019 NA Annexure- 10 to the SCN
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Source: SecMarx — sebi:WTM/AB/SRO/SRO/21090/2022-23. 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.