sebi:WTM/MPB/IMD-DoF-1/WRO-PLO/63/2019
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 prohibiting MI Research and its proprietor Mr. Ashish Jain from accepting any fresh clients until further orders; MI Research directed to disclose the contents of the directions on its website and submit certificate of compliance.
Provisions invoked
- s. 11B
- s. 11
- s. 19
- s. 12(1)
- s. 25
Regulations
- Reg. 3
- Reg. 3(1)
- Reg. 2(m)
- Reg. 15(9)
- Reg. 13(b)
- Reg. 35
- Reg. 2(l)
Parties
- MI Research
- Mr. Ashish Jain
Holding
The activities of Mr. Ashish Jain as a partner of A2FS were prima facie in the nature of unregistered investment advisory activities in violation of Section 12(1) of the SEBI Act and Regulation 3(1) of the IA Regulations, and MI Research had submitted false and misleading information to SEBI while obtaining its certificate of registration. Urgent interim directions were issued prohibiting MI Research and Mr. Ashish Jain from accepting any fresh clients until further orders.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of MI Research – Ashish Jain Page 2 of 15
__________________________________________________________________________________________________________________ Interim Order in the matter of MI Research – Ashish Jain Page 3 of 15 2) If answer to issue no. 1 is in affirmative, whether MI Research, Proprietor Mr. Ashish Jain had submitted wrong information to SEBI while obtaining the certificate of registration under IA Regulations? 3) If answer to issue no. 2 is in affirmative, whether urgent directions, if any should be issued against MI Research and its Proprietor Mr. Ashish Jain?
__________________________________________________________________________________________________________________ Interim Order in the matter of MI Research – Ashish Jain Page 4 of 15 8.6. The payment to subscribe to the services can be made directly to the bank accounts opened in the name of A2FS with ICICI Bank (A/c No. 091605500514), Axis Bank (A/c No. 914020056109429) and SBI (A/c No. 34704656278) respectively, the details of which were mentioned on their website.
You have read the preview. Create a free account to read the full order, track this party, and analyse it in Ontology.
Free accounts include 10 searches/day with full order access.
Source: SecMarx — sebi:WTM/MPB/IMD-DoF-1/WRO-PLO/63/2019. 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.