sebi:WTM/MPB/SEBI/EFD-DRA4/119/2018
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Facts / Headnote
Noticee and OSAR Capital directed to surrender/disgorge unlawful gain of Rs. 1,20,000 within 3 months and prohibited from accessing/dealing in securities market and from undertaking investment advisory services without fresh SEBI registration till expiry of 4 years from date of payment.
Provisions invoked
- s. 11B
- s. 11
- s. 11(4)
- s. 19
- s. 12
- s. 28A
Regulations
- Reg. 9
- Reg. 13(a)
- Reg. 13(b)
Parties
- Shri Amit Baburao Ahire
- OSAR Capital
Holding
SEBI held Shri Amit Baburao Ahire liable for violating Regulations 13(a) and 13(b) of the IA Regulations and Clauses 1 and 2 of the Code of Conduct and directed disgorgement of Rs. 1,20,000 with 4-year debarment from securities market and investment advisory activity without fresh registration.
Full text
Order in the matter of Shri Amit Baburao Ahire Page 2 of 15 3. Pursuant to the same, SEBI conducted a preliminary examination of the activities of Shri Amit Baburao Ahire (hereinafter referred to as “Noticee”), with a view to ascertain possible violations of the Securities and Exchange Board of India Act, 1992 (“SEBI Act, 1992”) and the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 (“IA Regulations”).
Order in the matter of Shri Amit Baburao Ahire Page 3 of 15 8. Pursuant to the above, SEBI conducted an inspection of books of account, records and documents of HBJ Capital at its office situated at No. 578, 1st and 2nd Floor, 2nd Phase, 6th Block, BSK 3rd Stage, Bangalore-560 085, on November 06, 2015 to verify whether, HBJ capital has violated the directions issued by SEBI vide its Interim Order dated June 15, 2015 by rendering investment advisory services in the name of OSAR Capital, and also to determine whether Shri Amit Baburao Ahire –proprietor of OSAR Capital has violated the relevant provisions of the IA Regulations.
Order in the matter of Shri Amit Baburao Ahire Page 4 of 15 SEBI Registration No. INA000002660 Valued Clients: 425” d. The website also contains the bank account details of OSAR Capital (maintained with Axis Bank, Srinivas Nagar Branch, Bangalore), for making online payment towards the fees.
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Source: SecMarx — sebi:WTM/MPB/SEBI/EFD-DRA4/119/2018. 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.