June 25, 2004
PR No. 135/2004

Application of M/s Wealth Management Advisory Services Ltd., for registration as a portfolio manager, rejected

The application submitted by M/s Wealth Management Advisory Services Ltd. for registration as a portfolio manager has been rejected by Shri. T.M. Nagarajan, Whole Time Member, SEBI vide order dated June18, 2004. 

In the light of the disciplinary action taken / pending against the companies connected with the applicant, SEBI is of the view that grant of certificate of registration to the applicant company to operate as a portfolio manager may prove to be detrimental to the interest of the investors. Therefore, SEBI passed the order rejecting the application by M/s Wealth Management Advisory Services Ltd. for grant of certificate of registration as a portfolio manager. 
 
 
Mumbai

June 25, 2004