Dear Clients,

       This is to inform you that , we have received a order from SEBI on 18 Nov 2019 at 8:00 PM for more details Click here 


                                                                                    BEFORE THE SECURITIES AND EXCHANGE BOARD OF INDIA CORAM: MADHABI PURI BUCH, 
                                                                                                                                    WHOLE TIME MEMBER ORDER 
Under Sections 11, 11B and 11D of the Securities and Exchange Board of India Act, 1992 and Regulation 35, Chapter VI of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 In Re: Violation of provisions of Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 and SEBI (Portfolio Managers) Regulations, 1993 In respect of: Sr. No. Name of the Entities Registration Number PAN 1 Capital Heed Financial Research (Proprietor Mr. Shailendra Sen) INA000009418 BUXPS9559Q


Order

In view of the above, I, in exercise of the powers conferred upon me by virtue of Section 19 read with Sections 11, 11B and 11D of the SEBI Act, 1992, and Regulation 35, Chapter VI of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, hereby issue the following directions against the Noticee, Mr. Shailendra Sen, proprietor of Capital Heed Financial Research (SEBI Registration Number: INA000009418 and PAN: BUXPS9559Q): 
a. The Noticee, and any person while working under him or under his instructions as employee or otherwise, shall cease and desist from soliciting/ acquiring any fresh clients for investment advisory services, directly or indirectly, till further orders.

b. The Noticee, and any other person while working under him or under his instructions as employee or otherwise, shall cease and desist from offering any new investment advisory services to its existing clients for which fresh payment is required to be made by these clients. It is clarified that the services for which the existing clients have already made payment to the Noticee shall be duly delivered to these clients and no renewal of these services shall be permitted.

c. The Noticee, and his representatives, as defined in Regulation 2(1)(r) of the SEBI (Investment Adviser) Regulations, 2013, shall discharge all their obligations, as required under these Regulations, towards the existing clients in respect of the investment advisory services that it has to deliver as mentioned in para 27 (b) above.

d. The Noticee shall remove all references regarding his holding out as a portfolio manager made by him through any media (physical or digital).

e. The Noticee shall circulate a copy of this Order to all its existing clients and display the contents of the same on its website immediately. 
28. This order shall come into force with immediate effect. 
29. This order is without prejudice to the right of SEBI to take any other action that may be initiated against the aforementioned entity in accordance with law. The person against whom this Order has been passed may file his objections, if any, within twenty one days from the date of this Order and, if he so desires, avail himself of an opportunity of personal hearing before SEBI, on a date and time to be fixed on a specific request, received from the said person. 
Date: November 18, 2019 
MADHABI PURI BUCH Place: Mumbai WHOLE TIME MEMBER SECURITIES AND EXCHANGE BOARD OF INDIA