March 05,
2015
PR No. 051/2015
Order in the matter of MCX Biz Solutions and its proprietor Mr. Syed Sadaq
Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI passed a confirmatory order on February 27, 2015 in the
matter of MCX Biz Solutions (MBS) and its proprietor Mr. Syed Sadaq, and confirmed the following directions
issued against MBS and Mr. Syed Sadaq vide ad interim ex-parte order dated November 18, 2013:
(a) restrained the entities from accessing the securities market and further prohibiting from buying, selling or
otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner till
further directions;
(b) to cease and desist from undertaking any activity in the securities market, directly or indirectly, in any manner
whatsoever till further directions;
(c) to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials,
publications, documents, websites, etc. in relation to any activity in the securities market;
(d) prohibited them from mobilizing funds from the public, in whatever form, till further directions; and
(e) keep the entire money collected by them from the investors forthwith in an escrow account opened with any
nationalized bank and file a report with SEBI in this regard within 7 days from the date of the order.
Mumbai
March 05, 2015
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