sebi:WTM/SM/WRO/WRO/21189/2022-23
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Facts / Headnote
Noticees found in violation of Section 12(1) of SEBI Act, 1992 read with regulation 3 of PMS Regulations, 1993; directed to refund approximately INR 13,17,450/-, debarred from securities market for 2 years, and restrained from associating with listed companies/intermediaries for 2 years
Provisions invoked
- s. 19
- s. 12(1)
- s. 12
Regulations
- Reg. 3
- Reg. 2
- Reg. 42
Parties
- Meridian Capital Research
- Mr. Marvadi Rupeshbhai Babubhai
Holding
The Noticees were found to have carried out portfolio management services without obtaining registration from SEBI, in violation of Section 12(1) of the SEBI Act, 1992 read with regulation 3 of the PMS Regulations, 1993. The Noticees were directed to refund approximately INR 13,17,450/- received from investors, debarred from the securities market for two years, and restrained from associating with listed companies or SEBI-registered intermediaries for two years.
Full text
________________________________________________________________________________ Final Order in the matter of Meridian Capital Research, proprietor – Mr. Marvadi Rupeshbhai Babubhai Page 2 of 15
________________________________________________________________________________ Final Order in the matter of Meridian Capital Research, proprietor – Mr. Marvadi Rupeshbhai Babubhai Page 3 of 15
________________________________________________________________________________ Final Order in the matter of Meridian Capital Research, proprietor – Mr. Marvadi Rupeshbhai Babubhai Page 4 of 15
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Source: SecMarx — sebi:WTM/SM/WRO/WRO/21189/2022-23. 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.