sebi:WTM/MPB/IMD-DoF-1/WRO/132/2020
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 order issued restraining Money Plus and its proprietor Pravin Meshram from acting as investment advisers, freezing their bank accounts and assets, and issuing show cause notice.
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
- Money Plus Research
- Pravin Meshram
Holding
Money Plus Research, a proprietorship of Pravin Meshram, was prima facie found to be holding itself out and acting 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 engaging in fraudulent practices in violation of Section 12A(a),(b),(c) of the SEBI Act and Regulations 3(a),(b),(c),(d) and 4(1) and 4(2)(k) of the PFUTP Regulations. An interim ex-parte order was issued restraining the noticees from continuing such activities and freezing their bank accounts and assets.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Plus Research and its Proprietor Pravin Meshram Page 2 of 19 that end the website of the firm, www.moneyplusresearch.com and particulars of its bank accounts were perused to gather information. It is noted that above website is active and the print out of the web pages of the firm’s website are taken and have been placed on record.
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Plus Research and its Proprietor Pravin Meshram Page 3 of 19 3) If answers to Issue Nos. (1) & (2) are affirmative, who are all responsible for the violations? 4) If answer to Issue No. (2) is in affirmative, whether urgent directions, if any should be issued against those who are responsible for the violations?
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Plus Research and its Proprietor Pravin Meshram Page 4 of 19 (c) Money Plus Research Advisory provides advisory services to clients with the help of SMS, Email, Telephonic support, and Live Chat by using state-of-the-art technologies. By using best possible SMS gateway for advisory calls, we want to make sure that our advice reaches to the client within few seconds, so that they have adequate time to enter into the trade and maximize their profit.
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Source: SecMarx — sebi:WTM/MPB/IMD-DoF-1/WRO/132/2020. 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.