sebi:WTM/MPB/IMD-DoF-1/62/2018
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Interim ex-parte directions issued restraining the Noticees from acting as investment advisers, accessing the securities market, diverting funds, and withdrawing advertisements; bank accounts frozen against debits; order treated as show cause notice with 21 days to reply.
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
Regulations
- Reg. 3
- Reg. 2(m)
- Reg. 3(1)
Parties
- Stock Indication
- Mr. Mohd. Tanveer Ahmed
- Mr. Sunny Gupta
Holding
The Noticees — Stock Indication and its partners Mr. Mohd. Tanveer Ahmed and Mr. Sunny Gupta — were prima facie found to be carrying on unregistered investment advisory activity in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations, and interim ex-parte directions were issued restraining them from such activity and freezing their bank accounts against debits.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of Stock Indication Page 2 of 11
__________________________________________________________________________________________________________________ Interim Order in the matter of Stock Indication Page 3 of 11
__________________________________________________________________________________________________________________ Interim Order in the matter of Stock Indication Page 4 of 11
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Source: SecMarx — sebi:WTM/MPB/IMD-DoF-1/62/2018. 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.