https://www.taxtmi.com/caselaws?id=464548 SEBI Board held that the noticees, operating through an investment advisory firm, acted as unregistered investment advisers and induced investors to pay advisory fees for guaranteed IPO allotments. The Board found the website's representations deceptive, constituting "fraud" under PFUTP Regulations, and held the noticees in violation of Section 12(1) and Section 12A(a)-(c) of the SEBI Act read with Regulation 3(1) of the IA Regulations and Regulation 4(1)/4(2)(k) of PFUTP Regulations. The noticees were held liable for penalties under Sections 15EB and 15HA of the SEBI Act and directions were issued. en-us Wed, 25 Oct 2023 00:00:00 +0530 Tue, 04 Nov 2025 13:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=464548 SEBI Board held that the noticees, operating through an investment advisory firm, acted as unregistered investment advisers and induced investors to pay advisory fees for guaranteed IPO allotments. The Board found the website's representations deceptive, constituting "fraud" under PFUTP Regulations, and held the noticees in violation of Section 12(1) and Section 12A(a)-(c) of the SEBI Act read with Regulation 3(1) of the IA Regulations and Regulation 4(1)/4(2)(k) of PFUTP Regulations. The noticees were held liable for penalties under Sections 15EB and 15HA of the SEBI Act and directions were issued. Case-Laws SEBI Wed, 25 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=464548