sebi:WTM/KV/MIRSD/MIRSD-SEC-5/31188/2024-25
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Facts / Headnote
Interim ex-parte order restraining Noticees from securities market activities, impounding INR 53,67,46,384 as ill-gotten gain, and issuing show cause notice as to why INR 1,04,62,88,613 should not be treated as fees for unregistered advisory/research analyst services
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12A
- s. 12
- s. 15H
- s. 11D
- s. 27
- s. 11A
- s. 15
- s. 29
- s. 15E
Regulations
- Reg. 11
- Reg. 3
- Reg. 4
- Reg. 200
- Reg. 2
- Reg. 8(2)
Holding
SEBI prima facie found that Noticee no.1, through its directors and employees, conducted unregistered investment advisory and research analyst activities by providing specific stock recommendations (security name, entry, stop-loss, lot size) via telegram channels and sessions, in violation of the SEBI Act, IA Regulations, RA Regulations, and PFUTP Regulations. SEBI passed an interim ex-parte order restraining the Noticees from accessing the securities market, impounding INR 53,67,46,384 as ill-gotten gain, and directing show cause as to why INR 1,04,62,88,613 should not be considered fees for unregistered services.
Full text
_______________________________________________________________________________________ Order in the matter of Asmita Patel Global School of Trading Private Limited Page 2 of 128
_______________________________________________________________________________________ Order in the matter of Asmita Patel Global School of Trading Private Limited Page 3 of 128
_______________________________________________________________________________________ Order in the matter of Asmita Patel Global School of Trading Private Limited Page 4 of 128
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Source: SecMarx — sebi:WTM/KV/MIRSD/MIRSD-SEC-5/31188/2024-25. 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.