| in the matter of Capital Nivesh Research (CNR) and Bright Money Solutions (BMS). |
To
All Trading Members of the Exchange
Sub: Final Order under Sections 11(1), 11(4), 11B(1) and 11D of the Securities and Exchange Board of India Act, 1992 In Re: Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 and Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 in the matter of Capital Nivesh Research (CNR) and Bright Money Solutions (BMS).
SEBI vide its order no. WTM/MPB/IMD-DoF-1/WRO-JLO/ 160 /2020 dated December 17, 2020 has inter-alia issued following directions:
- Capital Nivesh Research, Bright Money Solutions and proprietor Mr. Naresh Nimawat (PAN: AUMPN9148A) and Mr. Ashwin Doriya (PAN: GMMPD6808M) are directed not to access the securities market and buy, sell or otherwise deal in securities, either directly or indirectly, in any manner whatsoever, until further orders.
- If CNR, BMS or its proprietor Mr. Naresh Nimawat and Mr. Ashwin Doriya have any open position in any exchange traded derivative contracts, as on the date of the order, they can close out/ square off such open positions within 3 months from the date of order or at the expiry of such contracts, whichever is earlier. CNR, BMS or its proprietor Mr. Naresh Nimawat and Mr. Ashwin Doriya are permitted to settle the pay-in and pay-out obligations in respect of transactions, if any, which have taken place before the close of trading on the date of this order.
This Order is effective from the date of the order.
A copy of the said Order is attached herewith and also available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Rajesh Kumar Dubey Avijit Sarkar
Associate Manager Deputy Manager
Surveillance Surveillance
Date: December 18, 2020 |