sebi:WTM/ASB/WRO/WRO/19751/2022-23
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violation found; Noticee directed to refund fees received for unregistered investment advisory activities within three months with public notice and CA-certified compliance report, restrained on assets/bank debits except for refunds, and debarred from securities market for 3 years or till completion of refunds, whichever is later
Provisions invoked
- s. 19
- s. 12(1)
Regulations
- Reg. 3
- Reg. 3(1)
Parties
- Suraj Kumar Rai (Proprietor Profit Mantra Research)
Holding
The Noticee was engaged in providing investment advisory services without obtaining a certificate of registration from SEBI in contravention of Regulation 3(1) of the IA Regulations read with Section 12(1) of the SEBI Act, and was directed to refund money, publish notice, and was debarred from the securities market for three years.
Full text
__________________________________________________________________________________________ Final Order in the matter of Suraj Kumar Rai (Proprietor Profit Mantra Research) Page 1 of 9
__________________________________________________________________________________________ Final Order in the matter of Suraj Kumar Rai (Proprietor Profit Mantra Research) Page 2 of 9
__________________________________________________________________________________________ Final Order in the matter of Suraj Kumar Rai (Proprietor Profit Mantra Research) Page 3 of 9
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Source: SecMarx — sebi:WTM/ASB/WRO/WRO/19751/2022-23. 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.