sebi:WTM/AB/WRO/WRO/22323/2022-23
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Facts / Headnote
Noticees held to have acted as unregistered investment advisers in violation of Section 12(1) of SEBI Act read with Regulation 3(1) of IA Regulations; directed to jointly and severally refund fees, deposit balance with SEBI in escrow, restrained from selling assets except for refunds, and debarred from securities market for 6 months.
Provisions invoked
- s. 19
- s. 12(1)
- s. 27
- s. 25
- s. 18
Regulations
- Reg. 3
- Reg. 4(a)
- Reg. 2(1)(l)
- Reg. 3(1)
- Reg. 2(1)(m)
Parties
- M/s Global Money Plant Financial Services
- Mr. Sawan Yadav
- Ms. Julee Verma
- Mr. Sourabh Yadav
Holding
The Noticees acted as investment advisers without SEBI registration in violation of Section 12(1) of the SEBI Act, 1992 read with Regulation 3(1) of the IA Regulations, 2013. They were directed to jointly and severally refund Rs. 36,30,753.62 received as advisory fees, deposit any balance with SEBI, and were debarred from the securities market.
Full text
Final Order in the matter of M/s. Global Money Plant Financial Services Page 2 of 17 complainant. The complainant attached payment acknowledgement from payment gateway EBS showing payment of the aforesaid amount by the complainant to the merchant website, globalmoneyplant.com.
Final Order in the matter of M/s. Global Money Plant Financial Services Page 3 of 17 NCDEX Plant, Energy Plant. Options – Stock Option Plant, Option Strategy Plant. Combo – Equity Combo Plant, Index F&O Plant, Agri Commodity Plant, Future & Option Plant. DSP BR Mutual Fund – DSP Micro Cap Fund, DSP BR Opportunities Fund. Reliance Mutual Fund – Reliance Growth Fund, Reliance Vision Fund, Reliance Small Cap Fund. SBI Mutual Fund – SBI Emerging Business Fund, SBI Magnum Global Fund, SBI Magnum Mid Cap Fund.
Final Order in the matter of M/s. Global Money Plant Financial Services Page 4 of 17 3. State Bank of India Ltd. Global Money Plant Financial Services 35275925570 SBIN00 30144 Current 140, A.B. Road, Phadnis Colony, Indore, Madhya Pradesh - 452001.
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/22323/2022-23. 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.