To 

All Trading Members of the Exchange

Sub: Interim Ex Parte Order Under Sections 11 (1), 11 (4), 11B (1) and 11D of the Securities and Exchange Board of India Act, 1992 In Re: Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 and Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003 in the matter of Hybrid Research Advisory Services.

SEBI vide its order no. WTM/MPB/IMD/WRO-ILO/148/2020 dated December 07, 2020 has inter-alia issued following directions:

·         Hybrid Research Advisory Services and its proprieter, Mr Nikhil Kumar are directed not to access the securities market and buy, sell or otherwise deal in securities in any manner whatsoever, directly or indirectly, until further orders.

• If Hybrid Research Advisory Services and its proprieter has any open positions in any exchange traded derivative contracts, as on the date of the order, they can close out/ square off such open positions within 3 months from the date of this Order or at the expiry of such contracts, whichever is earlier. Hybrid Research Advisory Services and its proprieter are permitted to settle the pay-in and pay-out obligations in respect of transactions, if any, which have taken place before the close of trading on the date of this Order.

This Order is effective from the date of the order. 

A copy of the said Order is attached herewith and also available on the SEBI website www.sebi.gov.in. 

Trading members are advised to take note of the same and ensure compliance. 

Jeevan Noronha                                                                                                           Fahad Kapadia                               

Sr. Manager                                                                                                                    Assistant Manager  

Surveillance                                                                                                                   Surveillance

Date: December 08, 2020