March
29, 2016
PR No. 069/2016
Order in the matter of Altius Finserv Private Limited and its director and key management person,
Shri Pawan Bansal
Shri S. Raman, Whole Time Member, SEBI, has passed an order dated March 17, 2016, under Sections 11 and
11B of the SEBI Act read with Regulation 35 of the Merchant Bankers Regulations, in the matter of Altius Finserv
Private Limited and its director and key management person, Shri Pawan Bansal directing as follows –
- Shri Pawan Bansal, Managing Director and Key Management Person of Altius Finserv, is restrained from
associating himself, either directly or indirectly, with any intermediary or holding any controlling shareholding in
any intermediary till such time he is freed by the Competent Court, of the charges alleged in the FIR (FIR no. RC-AC1-2014-A0005) registered against him, by the CBI on August 1, 2014.
- SEBI shall not consider any application of Altius Finserv Private Limited, for a Certificate of Registration to act
as an intermediary in any capacity till such time Shri Pawan Bansal holds office as the Managing Director or
Key Management Person of Altius Finserv or holds controlling shareholding in Altius Finserv or till such time Shri Pawan
Bansal is freed by the Competent Court, of the charges alleged in the FIR (FIR no.
RC-AC1-2014-A0005) registered against him, by the CBI on August 1, 2014.
It is observed that Shri Pawan Bansal and Altius Finserv Private Limited do not comply with the eligibility criteria of
being a 'fit and proper person' in accordance with the Merchant Bankers Regulations read with the Intermediaries
Regulations and Altius Finserv Private Limited has failed to comply with the provisions of Clause 28 of the Code of
Conduct contained in Schedule III read with Regulation 13 of the Merchant Bankers Regulations.
This Order shall come into force with immediate effect.
Mumbai
March 18, 2016
|