sebi:WTM/GM/IMD/47/2017-18
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Stapes Capital Research Private Limited and its promoters/directors directed to cease and desist from acting as investment adviser and from soliciting or undertaking securities market activities, with ancillary directions on funds, advertisements and refunds, until further orders
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
Regulations
- Reg. 2
- Reg. 3(1)
- Reg. 2(m)
Parties
- Stapes Capital Research Private Limited
- Shri Ram Singh
- Shri Prashant Gangwar
Holding
SCRPL and its promoters/directors Shri Ram Singh and Shri Prashant Gangwar were prima facie found to be carrying on unregistered investment advisory services and were directed to cease and desist from such activity with immediate effect until further orders.
Full text
Page 2 of 9 on the address available on its website www.stapescapital.com i.e. “T-306, Arjun Plaza, Sector 05, Dwarka, New Delhi-110005”, seeking various information and documents. In response to the same, SCRPL vide an un-dated letter received by SEBI on December 14, 2016 submitted inter alia that it was providing Intraday and Delivery basis trading advice in stock market and was in the business of investment advisory / research analyst since October 2015. It further submitted that it had a total of 46 clients and had collected Rs 5,34,850/- as subscription for its stock and commodity advisory services. SCRPL further submitted that it was in the process of making registration with SEBI.
Page 3 of 9 3. To carry on the business or vocation of acting as advisers, trainer and consultant on all matters and problems relating to the business fundamentals & Strategies, technical Industries, Civil Administration, and Organization Structure, Management, Commencement or Expansion of Industry, Purchasing & Sales of Real Estate, Production’s of material and cost control, Marketing, Advertisement and Publicity, Trade & Investment of Shares and Securities, Training people for developing Intellectual Knowledge.”
Page 4 of 9 We are headquartered at New Delhi and planning to have associates operating across India. Our core support and service are Accuracy on calls, Market timing , Flexible support plans, constant & volatile Market track, 24×7 customer support system and a dedicated team of Analysts and support technicians without whom providing valued services to our customers would have proven to be a nightmarish task. Stapes Capital provide customized services to our clients as per their requirements irrespective of the size and type of their portfolio at very reasonable rates. We ensure confidentiality of client data and information. We understand each of our client’s unique needs, values and goals and leave no stone unturned in our endeavor to make them come true.” Mission: We pride and differentiate ourselves from other firms in terms of the quality of our support and service. Our soul aim is minimize losses and maximize returns for our customers and we do so by educating them of the trading discipline and robust money & risk management. To be a leading financial institution, we are offering efficient, fair and transparent advice for stock & commodity and enjoying full confidence of the investors.”
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Source: SecMarx — sebi:WTM/GM/IMD/47/2017-18. 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.