Shri S Raman, Whole Time Member, Securities and Exchange Board of India (SEBI), has passed an interim order dated March 12, 2015  against M/s. Global Mount Money Research and Advisory Pvt. Ltd. and its Directors- Mr. Rajeev Singh Rajput, Mr. Arpit Kothari and  Mr. Ajay Kumar, Global Mount Money Research and Advisory and its Partners- Mr. Rajeev Singh Rajput and Mr. Arpit Kothari, Global Money Research and Advisory (Proprietor -Rajeev Singh Rajput), Global Money Financial Services and its Partners- Mr. Rajeev Singh Rajput, Mr. Arpit Kothari and Mr. Ajay Kumar. The order directed  the above-mentioned entities to cease and desist from acting as Investment Adviser and cease to solicit or undertake such activities or any other unregistered activity in the security market directly or indirectly, in any manner whatsoever.

These entities have further been directed to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites etc. in relation to his investment advisory or any unregistered activity in the securities market.

These entities were engaged in providing investment advisory services to public at large without obtaining requisite registration from SEBI for the same and as a result have violated provisions of the SEBI Act, 1992 and SEBI (Investment Advisers) Regulations, 2013.

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