SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE � PRESS RELEASES/ CHAIRMAN�S AND MEMBER�S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO REMOVE ALL REFERENCE MADE THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) REGARDING HOLDING ITSELF AS PORTFOLIO MANAGER AND EXPECTED RETURNS FROM SERVICES/PRODUCTS OFFERED

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

1

History of entity/person

3M TEAM RESEARCH PVT.LTD.

(PAN:AAACZ5112B)

History of entity/person

PRAMOD JAIN

(PAN:AOAPJ9120L)

History of entity/person

RAKESH SETHI

(PAN:ATIPS2321R)

INDULGED IN ACTIVITY OF PORTFOLIO MANAGER WITHOUT SEBI REGISTRATION

DIRECTED TO CEASE & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET INCLUDING ACTIVITY OF ACTING AND REPRESENTING THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) AS AN INVESTMENT ADVISOR, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 04-AUG-2022 TO 03-AUG-2023

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 04-AUG-2022 TO 03-AUG-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-AUG-2022 TO 03-AUG-2023

DIRECTED TO REMOVE ALL REFERENCE MADE THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) REGARDING HOLDING ITSELF AS PORTFOLIO MANAGER AND EXPECTED RETURNS FROM SERVICES/PRODUCTS OFFERED

DIRECTED TO REFUND MONEY TO THE INVESTORS

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS

26-NOV-2019

SEBI VIDE ITS ORDER DATED 07/12/2020 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS EX-PARTE AD INTERIM ORDER DATED 26/11/2019

SAT: SAT VIDE ITS ORDER DATED 18/03/2021 CONDONED THE DELAY IN FILING OF APPEAL AND DIRECTED TO RESPONDENT TO FILE REPLY WITHIN FOUR WEEKS FROM DATE OF THIS ORDER AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 11/05/2022 REJECTED MISC APPLICATION. DIRECTED APPELLANT TO APPEAR AND FILE THEIR REPLIES BY 01/06/2022

SEBI VIDE ITS ORDER DATED 04/08/2022 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM ANY COMPLAINTS/INVESTORS, AS FEES OR CONSIDERATION OR IN ANY OTHER FORM, IN RESPECT OF UNREGISTERED PORTFOLIO MANAGEMENT SERVICES WITHIN THREE MONTHS FROM DATE OF THIS ORDER B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS WITHIN 15 DAYS OF COMING FORCE OF THIS ORDER C) REPAYMENTS TO INVESTORS/CLIENTS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) PREVENTED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED. FURTHER, DIRECTED BANK TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS/COMPLAINTS WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES OR UNREGISTERED PORTFOLIO MANAGEMENT SERVICES E) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANT F) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN THE SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR ONE YEAR FROM DATE OF COMPLETION OF REFUNDS TO COMPLAINTS/INVESTORS G) PAY PENALTY AMOUNT TO RS.8 LAC U/S 15HA AND RS.2 LAC U/S 15HB OF SEBI ACT, 1992 (JOINTLY AND SEVERALLY)

SAT: SAT VIDE ITS ORDER DATED 13/12/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 20/02/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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