August 27, 2014
PR No. 104/2014
Order in the matter of M/s Wasankar Wealth Management Limited, Wasankar Investments and others
Shri Rajeev Kumar Agarwal, Whole Time Member, Securities and Exchange Board of India (SEBI), has
passed an order dated August 27, 2014 in the matter of Wasankar Wealth Management Limited, SEBI Stock
Broker/Sub-Broker and Investment Adviser, Wasankar Investments, SEBI Sub-Broker, Mr. Prashant
Wasankar, Mr. Vinay Wasankar, Ms. Mithila Wasankar, Mr. Abhijit Wasankar and Ms. Bhagyashree
Wasankar inter-alia directed
| i) |
to cease and desist from undertaking the portfolio management activities or any unregistered activity in the
securities market, directly or indirectly, in any manner whatsoever; and also prohibited from mobilizing or
pooling funds from its clients, other general investors or public and from offering any portfolio management
activities or any other unregistered activity, in whatever form;
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| ii) |
to 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;
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| iii) |
to refund the monies so collected from their clients and other investors in its various schemes alongwith
income, profits or returns promised to them under such schemes or interest at the rate of 10% per annum,
whichever is higher, from the date of investment till the date of refund, within a period of seven days from the
date of this order (i.e., by September 03, 2014) and submit a repayment report to SEBI.
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| iv) |
prohibited Wasankar Wealth Management Limited, Wasankar Investments, Mr. Prashant Wasankar, Mr.
Vinay Wasankar, Ms. Mithila Wasankar, Mr. Abhijit Wasankar and Ms. Bhagyashree Wasankar from
transferring the funds/deposits mobilised from the clients or other investors or from disposing of or alienating
any asset that has been created from the funds/deposits received from their clients or other investors for
purposes other than refund as directed hereinabove; |
| v) |
restrained captioned entities (1- Wasankar Wealth Management Ltd., 2- Mr. Prashant Wasankar
(Wasankar Investments), 3- Mr. Vinay Wasankar, 4- Ms. Mithila Wasankar, 5- Mr. Abhijeet J. Chaudhari, 6-
Ms. Bhagyashree Wasankar) from buying, selling or dealing in the securities market, either directly or
indirectly, in any manner whatsoever, till further directions. |
Mumbai
August 27, 2014
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For full copy of order against ABHIJEET JAYANT CHAUDHARI, click here.
For full copy of order against BHAGYASHREE PRASHANT WASANKAR, click here.
For full copy of order against MITHILA VINAY WASANKAR, click here.
For full copy of order against PRASHANT JAIDEV WASANKAR, click here.
For full copy of order against PRASHANT JAIDEV WASANKAR, click here.
For full copy of order against VINAY JAIDEV WASANKAR, click here.
For full copy of order against WASANKAR INVESTMENTS, click here.
For full copy of order against WASANKAR INVESTMENTS, click here.
For full copy of order against WASANKAR WEALTH MANAGEMENT LTD., click here.
For full copy of order against WASANKAR WEALTH MANAGEMENT LTD., click here.
For full copy of order against WASANKAR WEALTH MANAGEMENT LTD., click here.
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