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January 15, 2016
PR No. 011/2016
Order against Mr. Sameer S. Joshi, Proprietor, Shreesurya Investments,
sub-broker
Shri S. Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), passed an Order dated
January 08, 2016, in the matter of Mr. Sameer S. Joshi, Proprietor, Shreesurya Investments ("Mr. Sameer Joshi") a
registered Sub-broker of BSE (from June 19, 2007 to December 27, 2013) and NSE (from May 06, 2008 to
November 01, 2013). Mr. Sameer Joshi was affiliated to the stock broker, M/s Kisan Ratilal Choksey Shares and
Securities Private Limited. In the said order, SEBI issued the following directions;
- Mr. Sameer S. Joshi, Prop. Shreesurya Investments and Mr. Sameer S. Joshi (HUF) are prohibited from
mobilizing or pooling any fresh funds from its clients, other general investors or members of public in whatever
form;
- Mr. Sameer S. Joshi, Prop. Shreesurya Investments and Mr. Sameer S. Joshi (HUF) are directed not to,
directly or indirectly, access the securities market, and are further restrained and prohibited from buying,
selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date
of this Order, till the expiry of five (5) years from the date of completion of refunds to investors.
- Mr. Sameer S. Joshi, Prop. Shreesurya Investments shall refund the monies so collected from his clients and
other investors in the various schemes along with 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 ninety (90) days from the date of this order and submit a repayment report to
SEBI.
- Mr. Sameer S. Joshi, is permitted to sell the assets and the proceeds shall be kept in an interest bearing
escrow account to be opened in a scheduled bank and the said proceeds shall be used for the sole purpose
of making the repayments including interest, as directed above.
- Mr. Sameer S. Joshi shall provide a full inventory of all his assets and properties and details of all his bank
accounts, de-mat accounts and holdings of shares/securities, if additionally held in physical form.
Mumbai
January 15, 2016
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