Wasankar Wealth Management ordered to cease its portfolio management activities by SEBI

Wasankar Wealth Management has been restrained from buying, selling or dealing in the securities market, either directly or indirectly or in any manner, according to a SEBI Order


Wasankar Wealth Management Limited, having Trade name – Wasankar Investments, and Vinay Wasankar, Mithila Wasankar, Abhijeet Chaudhari,   Bhagyashree Wasankar and Prashant Wasankar have been ordered to cease and desist from undertaking its portfolio management activities or any unregistered activity in the securities market, directly or indirectly, in any manner whatsoever, according to a SEBI Confirmatory Order passed by Rajeev Kumar Agarwal, Whole Time Member, SEBI.
The following restrictions apply to the wealth management company as per the SEBI Order:
It is prohibited from mobilising or pooling funds from its clients, other general investors or public and from offering any portfolio management activities or any other unregistered activity, in whatever form.
It is to immediately withdraw and remove all advertisements, representations, literatures, brochures, materials, publications, documents, websites, etc. in relation to the portfolio management activities or any unregistered activity in the securities market.
It is to refund the monies so collected from their clients and other investors in its 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 seven days from the date of this order and submit a repayment report to SEBI in a prescribed format.
It is prohibited from transferring the funds/deposits mobilised from the clients or other investors or from disposing of or alienating any asset that has been created from the funds/deposits received from their clients or other investors for purposes other than refund as directed hereinabove.
It is restrained from buying, selling or dealing in the securities market, either directly or indirectly, in any manner whatsoever, till further directions.



Kiran Aggarwal

3 years ago

Reason ??

Vinita Deshmukh gets the 'Laadli Award' for gender sensitivity

Moneylife's consulting editor Vinita Deshmukh won this year’s Laadli Award for her articles on Pune constable Jayashree Mane, who was assaulted by her senior for using RTI


Vinita Deshmukh, the consulting editor of Moneylife was Wednesday felicitated with the Laadli Media and Advertising Award for Gender Sensitivity from the western region for 2013-14. She received the Award for her story on a woman constable from Pune who was assaulted for using the Right to Information (RTI) Act. (Read: Pune constable Jayashree Mane, an RTI user, slapped by her senior )
The Laadli Media and Advertising Awards for Gender Sensitivity highlights, acknowledge and celebrate the commendable efforts by various media at providing gender-just perspectives, portrayals and analysis. Vinita is among the 27 journalists selected by the jury from 588 entries received from western region.
Dr AL Sharada, director of Population First, said, "Many stories are written by journalists but Vinita went beyond news column. She took up the cudgels to bring justice to the lady cop who was assaulted for using RTI". Laadli is a campaign launched by Population First in 2005 to address the mindsets that discriminate against women, promote inequalities and justify gender-based violence.
Vinita Deshmukh said, "The fight for the woman cop is far from over as Pune Police has slapped a departmental enquiry on the constable for approaching media. I, along with RTI activists from Pune are firmly standing behind her."
This year’s awardees include, Femina magazine, Kunal Rajnikant Purohit from Hindustan Times, Shwetha Kannan (Afternoon Despatch & Courier), Gujarat Guardian, Himmat Kataria (Abhiyaan), Kamini Sanghvi (Mumbai Samachar), Ketan Dave (Nav Gujarat Samay), Kutch Mitra Daily, Bhuvanesh Pandya (Rajasthan Patrika), Suman Kachhawa and Varsha Mirza (Daily News), Mohan Maruti Maskar-Patil (Lokmat), Mrinmayee Ranade (MADHURIMA and Divya Marathi), Vrushali Magdum, Tara Kaushal (, Dr Abha Sharma (, 94.3 My FM, Vinayak Gaikwad, Priyanka Desai and Alka Dhupkar (IBN Lokmat).
The winners in Special Jury Citation include, Sukhada Tatke (The Hindu), Marisha Shah (Nav Gujarat Samay), Raj Bhaskar (Sadhana Magazine), Hamari Awaaz (Vividha), Dipti Raut and Priyanka Desai (IBN Lokmat). For social awareness, Aditi Desai from Gujarati theatre has been selected for a Special Award.
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Ordinance to implement coal, insurance reforms approved

'The Ordinance demonstrates the firm commitment and determination of this government to reforms:' Finance Minister Arun Jaitley


The Union Cabinet today approved key insurance and coal sector reforms which were stuck due to the Parliament logjam and also opened medical devices sector to foreign investment.
After the conclusion of the Winter session of Parliament, the Union Cabinet approved promulgation of the Ordinance on Insurance Bill, re-promulgation of the Coal Ordinance and allowing 100% FDI in medical devices in the pharmaceutical sector.
Finance Minister Arun Jaitley expressed hope that hiking of the foreign investment cap in the insurance sector to 49%, which has been pending since 2008, will result in capital inflow of US$ 6-8 billion.
“The Ordinance demonstrates the firm commitment and determination of this government to reforms. It also announces to the rest of the world including investors that this country can no longer wait even if one of the houses of Parliament waits indefinitely to take up its agenda,” Jaitley said.
The Insurance Laws Amendment Bill, 2008 could not be taken up for discussion despite being approved by the Select Committee of the Upper House because of the uproar over the conversion and other issues.
The Coal Mines (Special Provisions) Bill, 2014 has already been approved by the Lok Sabha during the session but could make no progress in the upper House.
The government promulgated the Coal Mines (Special Provisions) Ordinance, 2014, in October to facilitate coal block auctions after the Supreme Court cancelled 204 coal blocks in September. 


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