SEBI imposes penalty on unregistered investment advisor Mohit Gupta

This is a final order by SEBI regarding Mr. Mohit Gupta, who was found to have acted as an unregistered investment advisor and engaged in fraudulent trade practices. The order specifically addresses the penalty imposed under Section 15HA of the SEBI Act following a remand by the Securities Appellate Tribunal (SAT).

Mr. Mohit Gupta (Proprietor of Safe Trading)

• SEBI found that the Noticee acted as an unregistered investment advisor and collected funds by fraudulently assuring guaranteed returns.
• SEBI directed the Noticee to refund INR 23,94,574.50 to investors.
• SEBI debarred the Noticee from accessing the securities market for 1 year or until the repayment report is filed, whichever is later.
• SEBI imposed a penalty of INR 1,00,000 under Section 15EB of the SEBI Act.
• SEBI upheld the liability for a penalty under Section 15HA of the SEBI Act, which has a statutory minimum of INR 5,00,000.
• SEBI noted that the Noticee had not complied with the direction to refund investors as of the date of this order.

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