To
All Trading Members of the Exchanges
Sub: Final Order in the matter of Capital Nivesh Research and Bright Money Solutions.
In continuation to the Exchange Notice No. 20201218-14, dated December 18, 2020, on the captioned matter.
SEBI vide its order no WTM/SM/WRO/WRO/20822/2022-23 dated October 28, 2022, has inter-alia issued following directions:
· The Noticees are debarred from accessing the 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 a period of 02 (two) years from the date of this Order or till the expiry of 02 (two) years from the date of completion of refunds to complainants/ investors along with depositing of balance amounts, if any, with SEBI as directed in sub-paragraph (i) and (v) above, whichever is later.
· Obligation of the Noticees, in respect of settlement of securities, if any, purchased or sold in the cash segment of the recognized stock exchange (s), as existing on the date of this Order, can take place irrespective of the restraint/prohibition imposed by this Order, only in respect of pending unsettled transactions, if any. Further, all open positions, if any, of the Noticees in the F & O segment of the stock exchange, are permitted to be squared off, irrespective of the restraint/prohibition imposed by this Order.
This Order is effective from the date of the order.
A copy of the said Order is attached herewith and available on the SEBI website www.sebi.gov.in.
Trading members are advised to take note of the same and ensure compliance.
Jeevan Noronha Shubham Benere
Regulatory Correspondence Regulatory Correspondence
Date: October 28, 2022 |