Notice No20190322-5Notice Date22 Mar 2019
SubjectOrder in the matter of unregistered Investment Advisory through website



All Trading Members of the Exchange


Sub:   Order Under Sections 11(1), 11(4), 11(B) and 11D of the Securities and Exchange Board of India Act, 1992 in the matter of unregistered Investment Advisory through website


In Re: Securities and Exchange Board of India (Investment Advisers Regulation, 2013)


SEBI, vide its Order no. WTM/MPB/IMD/SRO/29/2019 dated March 20, 2019 has inter-alia issued following directions:


a: Directed the following Notices not to access the securities market and buy, sell or otherwise deal in securities market in any manner whatsoever, directly or indirectly, till further orders.  


Sr. no.

Names of the Noticee



Mr. Rishabh Jain



Mr. Ubaidur Rahman



Mr. G. Kadar Hussain



b: Cease and desist from acting as an investment advisor and cease to solicit or undertake such activity or any other activities in the securities market, directly or indirectly, in any matter whatsoever until further orders;


c. Immediately withdraw and remove all websites, advertisements, representations, literatures, brochures, materials, publications, documents, communications, etc. in relation to their investment advisory activity or any other unregistered activity in the securities market till further orders.


This Order shall come into force w.e.f. 20.03.2019.


A copy of the said Order is attached herewith and available on the SEBI website


Trading members are advised to take note of the same and ensure compliance.




Ena Janvalekar                                                                                Rajesh Kumar Dubey           

Sr. Manager                                                                                     Associate Manager 

Surveillance                                                                                     Surveillance


Date:  March 22, 2019


unregistered Investment Advisory.pdf