SEBI issues interim ex parte order against Stark Investments for unregistered advisory services

This is an interim order by SEBI regarding allegations that Stark Investments, Starkblue Ventures LLP, and associated individuals provided investment advisory and portfolio management services without the required SEBI registration.

Surabhi Chauhan, Zahin Ismail Jessani, Stark Investments, Starkblue Ventures LLP, and Shakuntala Davendra Singh

• SEBI received 16 unique complaints alleging unregistered Investment Advisory (UIA) and unregistered Portfolio Management Services (UPMS).
• SEBI observed that the entities solicited investments by claiming to use proprietary quantitative models, algorithm-based trading, and assured downside protection.
• SEBI noted that investors were made partners in Starkblue Ventures LLP, with funds pooled into a common corpus managed by the designated partners (Surabhi Chauhan and Zahin Ismail Jessani).
• SEBI found that investors were prompted to open trading accounts with registered brokers (e.g., IIFL, Zerodha) and then shared their login credentials, passwords, and OTPs with the entities.
• The order is issued under Section 11(1), 11(4), 11B(1), and 11D of the SEBI Act, 1992.
• The order is designated as an 'Ex Parte Interim Order', indicating it is a preliminary step rather than a final adjudication.

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