sebi:WTM/AB/WRO/WRO/25/2020-21
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Facts / Headnote
Noticee found to have acted as unregistered investment adviser and engaged in fraudulent practice; directed to refund fees collected, debarred from securities market for 3 years or till 3 years from completion of refunds whichever is later, and restrained from associating with listed companies and SEBI-registered intermediaries.
Provisions invoked
- s. 19
- s. 12(1)
- s. 12A
Regulations
- Reg. 11
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 2
- Reg. 3(a)
- Reg. 3(1)
- Reg. 2(m)
- Reg. 3(d)
- Reg. 4(2)(k)
- Reg. 35
- Reg. 2(l)
- Reg. 2(1)(u)
Parties
- Shri Chetan Yashwant Shukla
Holding
The Noticee, a SEBI-registered Research Analyst, acted as an unregistered investment adviser and engaged in fraudulent misrepresentation, and was directed to refund money collected from investors and was debarred from the securities market for three years.
Full text
Final order against Shri Chetan Yashwant Shukla Page 2 of 12 “……………..31. In view of the above, pending detailed investigation, I, in exercise of the powers conferred upon me by virtue of Section 19 read with Sections 11, 11(4), 11B and 11D read with Section 19 of the SEBI Act, 1992 and Regulation 35, Chapter VI of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, hereby issue by way of this
Final order against Shri Chetan Yashwant Shukla Page 3 of 12 V. The Registrar and Transfer Agents are also directed to ensure that till further directions the securities, including Mutual Fund units, held in the name of Chetan Shukla, are not transferred or redeemed. ……………….”
Final order against Shri Chetan Yashwant Shukla Page 4 of 12 filed any objection/reply to the interim order nor he has sought any opportunity of personal hearing. Thereafter, the file was placed before me on December 18, 2020 for passing of final order in the matter.
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Source: SecMarx — sebi:WTM/AB/WRO/WRO/25/2020-21. 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.