sebi:WTM/AN/WRO/WRO/29356/2023-24
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations found against Highbrow and its Directors (present and past) under IA Regulations, PFUTP Regulations, and SEBI Act; directions issued (details of final directions not fully captured in excerpt); refund of advisory fees directed NOT to be ordered.
Regulations
- Reg. 3
- Reg. 16
- Reg. 17
- Reg. 28
- Reg. 15
- Reg. 15(1)
- Reg. 3(1)
- Reg. 4(2)(k)
- Reg. 15(9)
- Reg. 21
Parties
- Highbrow Market Research Private Limited (Ways2Capital)
- Chandan Singh Rajput
- Rahul Trivedi
- Sunil Atode
- Girish Kumar Pahwani
- Laxmikant Sharma
- Mohit Chhaparwal
- Hemant Agrawal
- Swapnil Prajapati
Holding
Highbrow was found to have violated IA Regulations by selling multiple packages without regard to suitability, manipulating risk profiles, charging unreasonable fees, and failing to redress client grievances promptly; however, following the Hon'ble SAT's order in the Bull Research case, Highbrow was NOT found to have provided assured returns, and consequently PFUTP violations were not sustained and no refund of advisory fees was directed.
Full text
__________________________________________________________________________________ Final Order in the matter of Highbrow Market Research Private Limited Page 2 of 44
__________________________________________________________________________________ Final Order in the matter of Highbrow Market Research Private Limited Page 3 of 44
__________________________________________________________________________________ Final Order in the matter of Highbrow Market Research Private Limited Page 4 of 44
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Source: SecMarx — sebi:WTM/AN/WRO/WRO/29356/2023-24. 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.