sebi:WTM/MPB/IMD/WRO-ILO/77/2019
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Facts / Headnote
Interim ex-parte directions issued restraining the Noticees from acting as Investment Advisers/Research Analysts, accessing the securities market, diverting funds, and disposing of assets; bank accounts frozen; order treated as show cause notice
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
- s. 12A
Regulations
- Reg. 3
- Reg. 2
- Reg. 3(1)
- Reg. 2(l)
Parties
- Core Investment
- Core Group
- Mr. Deepak Bamne
- Mr. Matwar Mehra
Holding
The Noticees prima facie violated Section 12A(c) of the SEBI Act and regulations 3(a), (b), (c), (d) of the PFUTP Regulations by falsely representing themselves as registered intermediaries to induce the public to deal in securities, and prima facie violated Section 12(1) of the SEBI Act read with regulation 3(1) of the IA Regulations and RA Regulations by holding themselves out as Investment Advisers and Research Analysts without registration. Urgent interim directions were issued restraining the Noticees from securities market activity, freezing their bank accounts and assets pending enquiry.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of Core Investment Page 2 of 19
__________________________________________________________________________________________________________________ Interim Order in the matter of Core Investment Page 3 of 19
__________________________________________________________________________________________________________________ Interim Order in the matter of Core Investment Page 4 of 19
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Source: SecMarx — sebi:WTM/MPB/IMD/WRO-ILO/77/2019. 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.