November 08, 2016
PR No. 154/2016

Order in the matter of Motivate Financial Services Private Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an Interim order cum show cause notice dated November 04, 2016 in the matter of M/s. Motivate Financial Services Private Limited and its directors, viz., Mr. Nitin Hirji Babaria, Ms. Komal Rajendra Prasad Jaiswal and Ms. Devuben Hirji Babaria. 
  
The entity and its directors have been directed to cease and desist from acting as an investment advisor or research analyst and cease to solicit or undertake such activity or any other activities in the securities market, directly or indirectly, in any matter whatsoever. Further, they have been directed not to divert any funds raised from investors, kept in bank account(s) and/or in their custody.
 
They have further been directed to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. in relation to their investment advisory activity or any unregistered activity in the securities market.
 
M/s. Motivate Financial Services Private Limited and its directors were providing investment advisory services and research analyst services without obtaining registration from SEBI which is in violation of the provisions of SEBI (Investment Advisers) Regulations, 2013 and SEBI (Research Analysts) Regulations, 2014.

Mumbai
November 08, 2016

For full copy of order against DEVUBEN HIRJI BABARIA, click here.

For full copy of order against KOMAL RAJENDRAPRASAD JAISWAL, click here.

For full copy of order against MOTIVATE FINANCIAL SERVICES PVT.LTD., click here.

For full copy of order against NITIN HIRJI BABARIA, click here.