PRESS RELEASE - SEBI

November 21, 2013
PR No. 111/2013

Order in the matter of Mr. Sunil Laxman Kale, Sub broker and Trendline Traders Academy

Shri Rajeev Kumar Agarwal, Whole Time Member, SEBI has passed an ex-parte order on November 18, 2013 in the matter of Sri Sunil Laxman Kale, sub broker and Trendline Traders Academy (Trendline) and issued the following directions: (i) Sri Sunil Laxman Kale and Trendline 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; (ii). Sri Sunil Laxman Kale and Trendline shall cease and desist from undertaking the portfolio management activities or any unregistered activity in the securities market, directly or indirectly, in any manner whatsoever; (iii). Sri Sunil Laxman Kale and Trendline shall immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites etc. in relation to the portfolio management activities or any unregistered activity in the securities market; and (iv). Sri Sunil Laxman Kale and Trendline are prohibited from mobilizing funds from the public or offering any portfolio management activities, in whatever form.
 
Sri Sunil Laxman Kale was prima facie found to have issued an advertisement in a newspaper claiming to double the money invested by an investor through it in a year's time. Sri Sunil Laxman Kale also made representations on
the website www.realtime-trading-system.com and offered services which are in the nature of portfolio management services relating to funds even though neither Sri Sunil Laxman Kale nor Trendline Traders Academy had obtained certificate of registration to act as a portfolio manager.

 
Mumbai

November 21, 2013


For full copy of order against SUNIL LAXMAN KALE, click here.

For full copy of order against TRENDLINE TRADERS ACADEMY, click here.