sebi:WTM/RKA/MIRSD/03/2015
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 to cease fund mobilisation, withdraw advertisements, refund investors, and restraint from securities market till further directions
Provisions invoked
- s. 19
- s. 12(1)
- s. 12A
- s. 12
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 4(1)
- Reg. 15
Parties
- Mr. Sameer S. Joshi
Holding
SEBI prima facie held Mr. Sameer S. Joshi violated registration, membership and anti-fraud provisions by misusing his sub-broker status to mobilise deposits with promises of doubling and high returns. By ex-parte order it prohibited further mobilisation, directed withdrawal of advertisements, ordered refund with promised returns or 10% per annum whichever is higher within seven days, and restrained him from the securities market till further directions.
Full text
Order in respect of Mr. Sameer S. Joshi Page 2 of 7 (a) Apart from SI, Sameer has floated the following 10 private limited companies:- (i) Shreesurya Softdrinks Pvt. Ltd., (ii) Shreesurya Infra Projects Pvt. Ltd., (iii) Shreesurya Diary and Farm Pvt. Ltd., (iv) Shreesurya Cafe Retail Pvt. Ltd., (v) Shreesurya Oil and Extractions Pvt. Ltd., (vi) Shreesurya Media Network Pvt. Ltd., (vii) Shreesurya In-tech Pvt. Ltd., (viii) Shreesurya Wealth Risk Advisory Pvt. Ltd., (ix) Shreesurya Supermarkets Pvt. Ltd., (x) Shreesurya Dreams Destinations Pvt. Ltd.
Order in respect of Mr. Sameer S. Joshi Page 3 of 7 6 FDR Scheme doubles in 6 Months 1,00,000 and above Principal +15% interest on Principal 7 FDR Scheme doubles in 3 months 1,00,000 and above
Order in respect of Mr. Sameer S. Joshi Page 4 of 7 be associated with securities market shall buy, sell or deal in securities except under, and in accordance with, the conditions of a certificate of registration obtained from the Board in accordance with the regulations made under this Act:
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/RKA/MIRSD/03/2015. 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.