SECURITIES AND EXCHANGE BOARD OF INDIA


PRESS RELEASE

Securities and Exchange Board of India (SEBI) has come across certain advertisements placed in news papers by M/s Max Portfolios having its offices at 9, Syed Ameer Ali Avenue, 5th Floor, Park Circus, Kolkata-17, soliciting investments from the public in the form of loans and assuring monthly interest of 5% to investors. The entity has also claimed to be having its own NSE terminal. It is observed that the entity is not registered with SEBI in the capacity of broker or sub broker and therefore has no legal access to a trading terminal of any exchange. 

SEBI has restrained M/s Max Portfolios and its proprietor Shri Sanjeev Kapoor from buying, selling and dealing in the securities market in any manner directly and indirectly and from accepting any loans or deposits intended for share markets from the public till further orders. The entity will be given a post decisional hearing. The full text of the Order is available on the website www.sebi.gov.in. 

SEBI has also come across certain advertisements published in the newspapers by Delta Alliance Financial Services having its office at 34/3, Ashok Nagar, 3rd Floor, N.S.C. Bose Road, Kolkata-700 040 who is engaged in the activity of a portfolio manager without registering itself with SEBI. Its intention is to lure a large number of unsuspecting investors of the eastern region of the country by assuring them high returns. 

Therefore, in the interest of investors and to safeguard the integrity of the market SEBI has directed Delta Alliance Financial Services and its proprietor Shri Rajeev Kapoor to cease and desist from acting as an unregistered portfolio manager and from accepting deposits from and managing the portfolio of the investors and also from publishing any advertisement luring the investors to invest in securities market. SEBI has restrained M/s Delta Alliance Financial Services and its proprietor Shri Rajeev Kapoor from buying, selling and dealing in the securities market in any manner, directly and indirectly, with immediate effect until further orders. The entity will be given a post decisional hearing. 

Investors in securities market are also advised to exercise caution and not to get lured with promise of high returns, which is highly detrimental to the interests of investors and securities market.