sebi:WTM/GM/SRO/SRO/10346/2020-21
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Facts / Headnote
Directions issued: refund of Rs. 2,53,29,855.81 to clients, public notice for refund, debarment from securities market for 3 years from completion of refunds, restraint from associating with listed companies/intermediaries, removal of all advertisements; no direction issued against Noticee No. 1
Provisions invoked
- s. 11
- s. 19
- s. 11(1)
Parties
- M/s Stock Indication
- Mohd. Tanveer Ahmed
- Sunny Gupta
Holding
The Noticees (Mohd. Tanveer Ahmed and Sunny Gupta) were held to have acted as unregistered investment advisers in violation of the SEBI Act and IA Regulations, and were directed to refund Rs. 2,53,29,855.81 collected from clients and debarred from the securities market for three years from completion of refunds. No direction was issued against Noticee No. 1 (M/s Stock Indication) as a registered deed of dissolution dated August 07, 2018 was presented.
Full text
____________________________________________________________________________________________ Order in the matter of M/s Stock Indication
____________________________________________________________________________________________ Order in the matter of M/s Stock Indication
____________________________________________________________________________________________ Order in the matter of M/s Stock Indication
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Source: SecMarx — sebi:WTM/GM/SRO/SRO/10346/2020-21. 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.