sebi:WTM/AB/WRO/WRO/14742/2021-22
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Facts / Headnote
Noticees found to have violated SEBI Act, 1992 and IA Regulations, 2013 and PFUTP Regulations, 2003; directed to refund investor monies within three months, issue public notice, refrain from unregistered investment advisory activity, and debarred from securities market for 6 months or until refunds completed, whichever is later.
Provisions invoked
- s. 19
- s. 12(1)
- s. 12A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
- Reg. 3(d)
- Reg. 4(2)(k)
Parties
- Capital Exchange India (AANFC7272K)
- Ms. Mayuri Verma (AXQPV5977Q)
- Mr. Ankit Mishra (BBPPM7624F)
- Mr. Nirmit Daheriya (BJWPD1916L)
Holding
The Noticees were found to have acted as and held themselves out as an investment adviser without obtaining a certificate of registration from SEBI, in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, 2013, and their fraudulent conduct violated Section 12A(c) of the SEBI Act, 1992 and Regulations 3(d), 4(1) and 4(2)(k) of the PFUTP Regulations, 2003. The Noticees were directed to refund investor monies, issue public notices, and were debarred from the securities market for six months.
Full text
Order in the matter of Capital Exchange India Page 1 of 24 WTM/AB/WRO/WRO/14742/2021-22 SECURITIES AND EXCHANGE BOARD OF INDIA FINAL ORDER
Order in the matter of Capital Exchange India Page 2 of 24 By the interim order, following directions were inter alia issued to the Noticees: “……. i. The Noticees shall cease and desist from acting as an investment advisor including the activity of acting and representing through any media (physical or digital) as an investment advisor, directly or indirectly, and cease to solicit or undertake such activity or any other activities in the securities market, directly or indirectly, in any manner whatsoever, until further orders.
Order in the matter of Capital Exchange India Page 3 of 24 2. The interim order was also in the nature of a show cause notice wherein the Noticees were provided with the opportunity to file their objections/reply, if any, within 21 days from the date of the interim order and were also provided with an opportunity of personal hearing before SEBI, on a date and time to be fixed on a specific request to be made by the Noticees, in that regard.
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/14742/2021-22. 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.