sebi:WTM/MPB/IMD-DoF-1/WRO-PLO/90/2020
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 directions issued against Money Desire Research and its partners: cease and desist from acting as investment adviser, no access to securities market, no diversion of funds, inventory of assets within 5 working days, no disposal of assets without SEBI permission; banks, depositories, RTAs and stock exchanges directed to freeze accounts and demat holdings.
Provisions invoked
- s. 11
- s. 19
- s. 12A
- s. 25
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 16
- Reg. 17
- Reg. 28
- Reg. 15
- Reg. 15(1)
- Reg. 2(m)
- Reg. 15(9)
- Reg. 35
- Reg. 2(l)
Parties
- Money Desire Research
- Mr. Anoop Kumar Tiwari
- Mr. Raghvendra Singh
Holding
SEBI's Whole Time Member prima facie found that Money Desire Research (MDR) and its partners violated PFUTP Regulations and IA Regulations by conveying expected/target returns to clients, charging unreasonable and arbitrary fees through multiple overlapping subscriptions, and failing to properly risk-profile clients, and issued interim ex-parte directions restraining them from investment advisory activity and dealing in securities pending detailed enquiry.
Full text
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Desire Research Page 2 of 27
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Desire Research Page 3 of 27
__________________________________________________________________________________________________________________ Interim Order in the matter of Money Desire Research Page 4 of 27 MDR promised committed/expected and target returns to its clients:
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Source: SecMarx — sebi:WTM/MPB/IMD-DoF-1/WRO-PLO/90/2020. 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.