643+ Lawyers are online 
SEBI registration rejected - Is giving unauthorized advice illegal
11-Dec-2023 (In Banking / Finance Law)
hi ,i tryed 3 times for sebi registration..but i didnt get..my query is if i give unautharised advisory....sebi will fine and attache property.... so...that property my personal property or my wife,mother,father,miner children property also? kindly reply ..thank q
1. It depends on how you are running the practice, if it’s a company they will come after company.
2. If you have transferred the property to avoid penalties then SEBI may attach the property of other towards penalties. You can challenge any SEBI orders in the competent court and it’s up to the discretion of the Court.
3. Penalties for SEBI violations is as follows:
Securities and Exchange Board of India Act, 1992 [As amended by the Securities Laws(Amendment) Act, 2014]
15HA. Penalty for fraudulent and unfair trade practices.
If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty [which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher].
Disclaimer: The response to your query is general in nature not a legal advice to provide solutions to an individual problem. The response will not create any attorney-client relationship. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek competent legal counsel in the relevant jurisdiction. The firm, its advocates and staff are not liable for any consequence of any action taken by the readers relying on information provided herein. The firm expressly disclaims all liability in respect of actions taken or not taken based on any contents of this page.
2. If you have transferred the property to avoid penalties then SEBI may attach the property of other towards penalties. You can challenge any SEBI orders in the competent court and it’s up to the discretion of the Court.
3. Penalties for SEBI violations is as follows:
Securities and Exchange Board of India Act, 1992 [As amended by the Securities Laws(Amendment) Act, 2014]
15HA. Penalty for fraudulent and unfair trade practices.
If any person indulges in fraudulent and unfair trade practices relating to securities, he shall be liable to a penalty [which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees or three times the amount of profits made out of such practices, whichever is higher].
Disclaimer: The response to your query is general in nature not a legal advice to provide solutions to an individual problem. The response will not create any attorney-client relationship. Readers are cautioned not to attempt to solve individual problems on the basis of information contained herein and are strongly advised to seek competent legal counsel in the relevant jurisdiction. The firm, its advocates and staff are not liable for any consequence of any action taken by the readers relying on information provided herein. The firm expressly disclaims all liability in respect of actions taken or not taken based on any contents of this page.
Helpful?
21+
21+
Adv. Sameer Hussain
Hyderabad | 100+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
