sebi:WTM/SM/WRO/WRO/19857/2022-23
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Facts / Headnote
Interim order dated February 07, 2020 disposed of qua the Noticee; Noticee held liable for violations and directed to refund investors, restrained from securities market for six months, and cease investment advisory activity
Provisions invoked
- s. 11
- s. 19
- s. 11(1)
- s. 12A
- s. 12
Regulations
- Reg. 3
- Reg. 2(1)
- Reg. 200
- Reg. 2
- Reg. 11o
Parties
- Money Capital Investment – Vijay Thakur
Holding
The Noticee, Money Capital Investment through its sole proprietor Vijay Thakur, was held to have violated Section 12(1) of the SEBI Act read with Regulation 3(1) of the IA Regulations by acting as an investment adviser without registration, and Section 12A(a), (b), (c) of the SEBI Act read with Regulations 3(b), (c), (d), 4(1), 4(2)(k) of the PFUTP Regulations due to fraudulent conduct of falsely claiming SEBI registration.
Full text
Order in the matter of Money Capital Investment – Vijay Thakur Page 1 of 20 WTM/SM/WRO/WRO/19857/2022-23 SECURITIES AND EXCHANGE BOARD OF INDIA
Order in the matter of Money Capital Investment – Vijay Thakur Page 2 of 20 iv. Few of the such websites had made claims of having registration with SEBI for the purpose of investment advisory, whereas certain other websites had gone further to the extent of displaying the registration number of a totally unrelated but of an investment advisor registered with SEBI. v. The entities were receiving money either directly in their respective bank accounts or through payment gateways like PayUmoney, Paytm etc., and had received payment against the services rendered or to be rendered.
Order in the matter of Money Capital Investment – Vijay Thakur Page 3 of 20 i. The Noticees shall cease and desist from acting as an investment advisor including the activity of acting and representing through any media (physical or digital) as an investment advisor, directly or indirectly, and cease to solicit or undertake such activity or any other activities in the securities market, directly or indirectly, in any manner whatsoever, until further orders. ii. The Noticees shall not access the securities market and buy, sell or otherwise deal in securities in any manner whatsoever, directly or indirectly, until further orders. iii. The Noticees shall not divert any funds raised from investors, kept in bank account(s) and/or in their custody until further orders. iv. The Noticees shall not dispose of or alienate any assets, whether movable or immovable, or any interest or investment or charge on any of assets held in their name, including money lying in bank accounts except with the prior permission of SEBI. v. The Noticees shall immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, communications etc., in relation to their investment advisory activity or any other unregistered activity in the securities market until further orders. vi. The Noticees shall provide a full inventory of all assets held in the name of the proprietorship or the proprietor and firm or the partner, whether movable or
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Source: SecMarx — sebi:WTM/SM/WRO/WRO/19857/2022-23. 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.