November
21, 2013
PR No. 110/2013
Order in the matter of MCX BIZ SOLUTIONS and its proprietor Mr. Syed Sadaq
Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI has passed an ex-parte order on November 18, 2013 in the
matter of MCX BIZ SOLUTIONS (MBS) and its proprietor Mr. Syed Sadaq, and issued the following directions:
(a). MBS and its sole proprietor Mr. Syed Sadaq are restrained from accessing the securities market and further
prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the
securities market in any manner till further directions;(b). MBS and Mr. Syed Sadaq shall cease and desist from
undertaking any activity in the securities market, directly or indirectly, in any manner whatsoever till further
directions; (c). MBS and Mr. Syed Sadaq shall immediately withdraw and remove all advertisements,
representations, literatures, brochures, materials, publications, documents, websites etc. in relation to any activity in
the securities market; (d). MBS and Mr. Syed Sadaq are prohibited from mobilizing funds from the public, in
whatever form, till further directions; and (e). MBS and its sole proprietor Mr. Syed Sadaq shall keep the entire
money collected by them from the investors forthwith in an escrow account opened with any nationalised bank and
file a report with SEBI in this regard within 7 days from the date of the Order.
MCX BIZ SOLUTIONS was prima facie found to have displayed a forged sub broker registration certificate on
thewebsite www.mcxbizsolutions.com and interalia made other representations on the website regarding stock tips
for trading, stock market, guidance on the entire investment process for both commodity and equity, best online
stock trading calls, etc.
Mumbai
November 21, 2013
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