May
04, 2016
PR No. 090/2016
Order in the matter of M/s. Orange Rich Financials and its Proprietor, Mr. Saket
Jalan.
Shri Prashant Saran, Whole Time Member, SEBI has passed an order dated April 29, 2016 under Sections 11(1),
11(4), 11B and 11D of the SEBI Act, 1992 read with SEBI ( Investment Advisers) Regulations, 2013 inter-alia
directing that
a) M/s. Orange Rich Financials and its proprietor Mr. Saket Jalan are hereby prohibited from buying, selling or
otherwise dealing in the securities market, either directly or indirectly, in any manner whatsoever, for a period of 5
years.
b) M/s. Orange Rich Financials and its proprietor Mr. Saket Jalan shall not undertake, either directly or indirectly,
investment advisory services or any activity in the securities market without obtaining a certificate of registration
from SEBI as required under the securities laws.
c) M/s. Orange Rich Financials and its proprietor Mr. Saket Jalan shall expeditiously return the monies received
from its clients, if any, in respect of its unregistered investment advisory activities as found in the Order and submit
a certificate from a peer reviewed chartered accountant, within a period of 3 months from the date of the Order.
For the purpose of the Order, a peer reviewed Chartered Accountant shall mean a Chartered Accountant, who has
been categorized so by the Institute of Chartered Accountants of India ('ICAI').
The Orange Rich Financials and its proprietor Mr. Saket Jalan carried on Investment Advisory Activities without
obtaining certificate of registration from SEBI, thus contravening the provisions of Section 12 (1) of the SEBI Act,
1992 read with Regulation 3(1) of SEBI (Investment Advisers) Regulations, 2013.
Mumbai
May 04, 2016
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