Order against Mr. Sameer S. Joshi, Proprietor, Shreesurya Investments, sub-broker

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1- Shri S. Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), passed an Order dated January 08, 2016, in the matter of Mr. Sameer S. Joshi, Proprietor, Shreesurya Investments ("Mr. Sameer Joshi") a registered Sub-broker of BSE (from June 19, 2007 to December 27, 2013) and NSE (from May 06, 2008 to November 01, 2013). Mr. Sameer Joshi was affiliated to the stock broker, M/s Kisan Ratilal Choksey Shares and Securities Private Limited. In the said order,  SEBI  issued the following directions;

1. Mr. Sameer S. Joshi, Prop. Shreesurya Investments and Mr. Sameer S. Joshi (HUF) are prohibited from mobilizing or pooling any fresh funds from its clients, other general investors or members of public in whatever form;
2. Mr. Sameer S. Joshi, Prop. Shreesurya Investments and Mr. Sameer S. Joshi (HUF) are directed not to, directly or indirectly, access the securities market, and are further restrained and prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in whatsoever manner, from the date of this Order, till the expiry of five (5) years from the date of completion of refunds to investors.
3. Mr. Sameer S. Joshi, Prop. Shreesurya Investments shall refund the monies so collected from his clients and other investors in the various schemes along with  income, profits or returns promised to them under such schemes or interest at the rate of 10% per annum, whichever is higher, from the date of investment till the date of refund, within a period of ninety (90) days from the date of this order and submit a repayment report to SEBI.
4. Mr. Sameer S. Joshi, is permitted to sell the assets and the proceeds shall be kept in an interest bearing escrow account to be opened in a scheduled bank and the said proceeds shall be used for the sole purpose of making the repayments including interest, as directed above.
5. Mr. Sameer S. Joshi shall provide a full inventory of all his assets and properties and details of all his bank accounts, de-mat accounts and holdings of shares/securities, if additionally held in physical form.

2- The full text of the order is available on the website: www.sebi.gov.in