sebi:WTM/AB/WRO/WRO/20064/2022-23
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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 received, deposit balance with SEBI, and debarred from securities market for 6 months.
Provisions invoked
- s. 19
- s. 12(1)
Regulations
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- Shri Nitin Neema, Proprietor: Impact Research
Holding
The Noticees, through their website www.impactresearch.in, were engaged in providing investment advisory services for consideration 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.
Full text
Final Order in the matter of Nitin Neema, Proprietor: Impact Research Page 1 of 16 WTM/AB/WRO/WRO/20064/2022-23 SECURITIES AND EXCHANGE BOARD OF INDIA
Final Order in the matter of Nitin Neema, Proprietor: Impact Research Page 2 of 16 i. SEBI had received two complaints on SCORES dated February 22, 2016 and March 12, 2016 against Impact Research.
Final Order in the matter of Nitin Neema, Proprietor: Impact Research Page 3 of 16 the amounts paid by the Complainant instead a proforma invoice was provided by the Noticee wherein the particulars and description of the services provided to the Complainant was mentioned as “Power Cash” and “Special Pack” respectively. - The Complainant provided that following payments were made to the Noticees-
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/20064/2022-23. 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.