SEBI passes Interim Order against Stapes Capital Research
Published: Sep 19, 2017
By TIOLCORPLAWS News Service
MUMBAI, SEPT 19, 2017: In the matter of Stapes Capital Research Private Limited, SEBI has passed an Interim order against the company. Stapes Capital Research Private Limited and its directors – Mr. Ram Singh, and Mr. Prashant Gangwar are directed:
a. to cease and desist from acting as an investment adviser and cease to solicit or undertake such activity or any other activities in the securities market, including buy, sell or otherwise deal in securities market, either directly or in directly with immediate effect;
b. not to divert any funds raised from investors, kept in bank account(s) and/or in their custody until further orders, except for the purpose of refunds to the clients; and
c. to withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. in relation to their investment advisory activity or any other unregistered activity in the securities market with immediate effect.