PRESS RELEASE - SEBI

October 10, 2016
PR No. 147/2016

Order in the matter of Singhania Media Solutions Private Limited

Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an Interim order cum show cause notice dated October 06, 2016 in the matter of M/s. Singhania Media Solutions Private Limited and its directors, viz., Mr. Ankitkumar Shashikant Singhania and Mr. Shashikant Singhania.
 
The entity and its directors have been directed to cease and desist from acting as an investment advisor and cease to solicit or undertake such activities or any other activities in the securities market, directly or indirectly, in any matter whatsoever. Further, they have been directed not to divert any funds raised from investors, kept in bank account(s) and/or in their custody.
 
They have further been directed to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. in relation to their investment advisory activity or any unregistered activity in the securities market.
 
Furthermore, they have been directed to inform SEBI as to what measures have been taken by Mr. Ankit Singhania to comply with SEBIís directions vide Order dated December 30, 2015 issued against him.
 
M/s. Singhania Media Solutions Private Limited and its directors were providing investment advisory services without obtaining registration from SEBI which is in violation of the provisions of SEBI (Investment Advisers) Regulations, 2013.

Mumbai
October 10, 2016

 


For full copy of order against ANKITKUMAR SHASHIKANT SINGHANIA, click here.

For full copy of order against SHASHIKANT SINGHANIA, click here.

For full copy of order against SINGHANIA MEDIA SOLUTIONS PVT.LTD., click here.