sebi:WTM/SM/IVD/ID3/15009/2021-22
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Facts / Headnote
Noticee nos. 1-3 restrained from accessing the securities market and buying/selling/dealing in securities for 2 years; Noticee no. 3 additionally restrained from associating with a listed entity, material subsidiary of listed entity or SEBI registered intermediary for 2 years; Noticee no. 4 restrained from accessing/dealing in securities for 1 year; monetary penalties imposed under Section 15HA; existing holdings including mutual fund units to remain frozen during restraint.
Provisions invoked
- s. 19
- s. 11(1)
- s. 15H
- s. 27
- s. 15J
- s. 166
- s. 25
- s. 179
Regulations
- Reg. 3
- Reg. 4(1)
- Reg. 3(a)
- Reg. 35
Parties
- Money Mishra Financial Services
- Money Mishra Overseas Pvt. Ltd.
- Mr. Awanish Kumar Mishra
- Mr. Jitendra Kumar Tiwari
Holding
The Noticees violated regulations 3(a) and 4(1) of the PFUTP Regulations by acting as conduits in the unauthorized receipt and onward transfer of MF Units for use as F&O collateral, with Noticee nos. 1-3 actively involved and Noticee no. 4 liable by deliberate neglect and connivance. The Member imposed 2-year market and association restraints on Noticee nos. 1-3 (1-year market restraint on Noticee no. 4) and monetary penalties totalling INR 1.55 crore.
Full text
_________________________________________________________________________________________ Order in the matter of transfer of mutual fund units by Money Mishra Financial Services and others
_________________________________________________________________________________________ Order in the matter of transfer of mutual fund units by Money Mishra Financial Services and others
_________________________________________________________________________________________ Order in the matter of transfer of mutual fund units by Money Mishra Financial Services and others
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Source: SecMarx — sebi:WTM/SM/IVD/ID3/15009/2021-22. 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.