{"id":32580,"date":"2022-03-30T21:01:14","date_gmt":"2022-03-30T15:31:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-sebi-penalties\/"},"modified":"2022-03-30T21:01:14","modified_gmt":"2022-03-30T15:31:14","slug":"biz-sebi-penalties","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-sebi-penalties\/","title":{"rendered":"Sebi slaps Rs 8 lakh fine on five individuals"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1621704444\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Mar 30 (PTI) Sebi on Wednesday imposed penalties totalling Rs 8 lakh on five individuals for various violations with respect to funds raised by Tirupati Fincorp Ltd through preferential allotment of shares back in 2013.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4261259588\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p> The matter pertains to suspected misutilisation of funds raised by Tirupati Fincorp Ltd through preferential allotment of equity  shares made in 2013. The period of investigation was from January 5, 2013 to December 24, 2015.<\/p>\n<p> In an order, Sebi imposed penalties ranging from Rs 1 lakh to Rs 2 lakh each on five individuals. While three individuals have to pay a fine of Rs 2 lakh each, the remaining two have to shell out Rs 1 lakh each for violations, including that of listing norms.<\/p>\n<p> Separately, Sebi has passed orders against VRP Capital &#038; Derivative Market Services and its proprietor Vaibhav Ramchandra Patil, and  Green Money Solution and its proprietor Arvind Patidar for carrying out unauthorised investment advisory services.<\/p><div class=\"trade-content_5\" id=\"trade-637066402\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p> In two separate orders, the watchdog directed them to refund the money received in respect of their unregistered investment advisory activities.<\/p>\n<p> They have also been barred from the securities market for six months from the date of the orders or till the expiry of six months  from the date of completion of refunds to complainants\/ investors, whichever is later.<\/p>\n<p> Also, they have been asked not to undertake investment advisory services or any activity in the securities market without obtaining a certificate of registration from Sebi as required under the securities laws. PTI RAM  ANU ANU<\/p>\n<div class=\"trade-after-content\" id=\"trade-3301145780\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 30 (PTI) Sebi on Wednesday imposed penalties totalling Rs 8 lakh on five individuals for various violations with respect to funds raised by Tirupati Fincorp Ltd through preferential allotment of shares back in 2013. The matter pertains to suspected misutilisation of funds raised by Tirupati Fincorp Ltd through preferential allotment of equity [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-32580","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sebi slaps Rs 8 lakh fine on five individuals - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-sebi-penalties\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sebi slaps Rs 8 lakh fine on five individuals\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 30 (PTI) Sebi on Wednesday imposed penalties totalling Rs 8 lakh on five individuals for various violations with respect to funds raised by Tirupati Fincorp Ltd through preferential allotment of shares back in 2013. 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