sebi:WTM/MPB/IMD-DoF-1/WRO/124/2020
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Facts / Headnote
Interim ex-parte order issued restraining Proficient Global and its proprietor from acting as investment adviser, freezing bank accounts, demat accounts and assets, and issuing show cause notice as to why further directions including refund should not be issued.
Provisions invoked
- s. 11
- s. 19
- s. 12(1)
- s. 12A
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 2
- Reg. 3(1)
- Reg. 2(m)
- Reg. 2(l)
Parties
- M/s Proficient Global
- Mr. Abhishek Suryawanshi
Holding
Proficient Global, prima facie, held itself out and acted as an unregistered investment adviser in violation of Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations, and its conduct of assuring returns was prima facie fraudulent in violation of Sections 12A(a),(b),(c) of the SEBI Act and Regulations 3(a),(b),(c),(d) and 4(1), 4(2)(k) of the PFUTP Regulations. Interim ex-parte directions were issued restraining the entity and its proprietor from acting as investment adviser, freezing bank/demat accounts and assets pending investigation.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of M/s Proficient Global Research Page 2 of 19
__________________________________________________________________________________________________________________ Interim Order in the matter of M/s Proficient Global Research Page 3 of 19
__________________________________________________________________________________________________________________ Interim Order in the matter of M/s Proficient Global Research Page 4 of 19
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Source: SecMarx — sebi:WTM/MPB/IMD-DoF-1/WRO/124/2020. 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.