July 20 2016
PR No. 127/2016

Order in the matter of SBS Investments

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an Interim order cum show cause notice dated July 18, 2016 in the matter of “SBS Investments”.
 
M/s. SBS Investments and its partners viz., its Managing Partner - Mr. Srinivasa Thanga Durai and partner -Ms. P. Soundravalli were directed as followsto

1. cease and desist from acting as a portfolio manager and not to solicit or undertake such activity or any other unregistered activities in the securities market, directly or indirectly, in any matter whatsoever;
2. immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, website, etc. in relation to their portfolio management activities or any unregistered activity in the securities market;
3. not to divert any funds raised from the investors and
4. to furnish all the information/details sought by SEBI vide its letters. 

SBS Investments, a registered partnership firm, having partners viz., Managing Partner - Mr. Srinivasa Thanga Durai and partner - Ms. P. Soundravalli was found providing Portfolio Management services without obtaining registration from SEBI, which is in violation of the provisions of the SEBI (Portfolio Managers) Regulations, 1993.

Mumbai
July 20, 2016

For full copy of order against P.SOUNDRAVALLI, click here.

For full copy of order against P.SRINIVASA THANGA DURAI, click here.

For full copy of order against SBS INVESTMENTS, click here.