sebi:WTM/ASB/WRO/WRO/20746/2022-23
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Facts / Headnote
Noticee found in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the Investment Advisers Regulations; directed to refund ₹22,01,557, publish public notice, deposit balance with SEBI, restrained from dealing in securities market for 3 years, and barred from undertaking investment advisory activities without registration.
Provisions invoked
- s. 19
- s. 12(1)
- s. 12
Regulations
- Reg. 3
- Reg. 3(1)
- Reg. 2(m)
- Reg. 2(l)
Parties
- Mukesh Dixit, Proprietor of My Money Planet
Holding
The Noticee, Mukesh Dixit, proprietor of My Money Planet, was held to have violated Section 12(1) of the SEBI Act read with Regulation 3(1) of the Investment Advisers Regulations by holding himself out as an Investment Adviser without obtaining a certificate of registration from SEBI. He was directed to refund ₹22,01,557 collected as fees for unregistered investment advisory activities and debarred from accessing the securities market for three years.
Full text
_____________________________________________________________________________________ Order in the matter of My Money Planet and its Proprietor – Mukesh Dixit 1 / 8 WTM/ASB/WRO/WRO/20746/2022-23
_____________________________________________________________________________________ Order in the matter of My Money Planet and its Proprietor – Mukesh Dixit 2 / 8
_____________________________________________________________________________________ Order in the matter of My Money Planet and its Proprietor – Mukesh Dixit 3 / 8 12. (1) No stock broker, sub-broker, share transfer agent, banker to an issue, trustee of trust deed, registrar to an issue, merchant banker, underwriter, portfolio manager, Investment Adviser and such other intermediary who may be associated with securities market shall buy, sell or deal in securities except under, and in accordance with, the conditions of a Certificate of registration obtained from the Board in accordance with the regulations made under this Act:
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Source: SecMarx — sebi:WTM/ASB/WRO/WRO/20746/2022-23. 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.