Sebi Bans This Partnership Firm For 3 Years

Sebi has banned Capital Worth Research House and its companions from the securities marketplace for a interval of three years for offering unauthorised funding advisory companies.

Besides, they’ve been directed to refund greater than Rs 1.54 crore to purchasers inside three months.

The debarment of the entity and its companions will proceed until the expiry of three years from the date of completion of the refund to buyers, in accordance with an order handed on Wednesday.

Capital Worth is a partnership agency and its companions are Ankit Shrivastav, Mohammed Aamir Shaikh, Shahid Rangrej and Sameer Memon.

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Sebi discovered that Capital Worth by participating within the actions and holding itself out as an ‘investment adviser’, with out having a sound certificates of registration violated Investment Adviser (IA) guidelines.

The regulator additionally famous that the companions of Capital Worth are absolutely accountable for the contravention dedicated by the agency.

More than Rs 1.54 crore was credited within the account of Capital Worth between March-December 2018, as per the order.

In a separate order, the regulator slapped a high-quality of Rs 16 lakh on three people for misrepresenting the financials within the matter of Geodesic Ltd.

Sebi imposed a high-quality of Rs 6 lakh on Prashant Mulekar and Rs 5 lakh every on Pankaj Kumar and Kiran Kulkarni.

The order got here after the regulator performed an investigation into the alleged irregularities within the books and accounts of Geodesic Ltd throughout the interval — April 2012 to March 2013.

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