Reply to Nishant Chauhan of Profiquity.
I call bullshit on your statement that Profiquity is not associated with HBJ Capital and Osar Capital.
I was a customer of HBJ capital. I had not heard of Osar capital. Then 6 months later, in Dec 2015, I get a call from Osar Capital and also, email newsletters from Osar, similar to what Profiquity is sending now.
After I wrote about Osar capital, former clients of HBJ Capital contacted me and told me they were receiving similar mails and calls from Osar.
These former clients of HBJ complained to SEBI. Action was then initiated by SEBI in due course to investigate if the people behind Osar capital and HBJ capital were the same. Their investigation revealed that it was the same.
Then SEBI passed this order- https://www.sebi.gov.in/sebi_data/attachdocs/1458215527669.pdf (Osar capital order)
Profiquity started operations in 2016.
The style of emails newsletters, the methodology of SEO and flooding of Profiquity's name through links on irrelevant websites are all hallmarks of how Osar capital was operating.
Check the search results on google of Osar capital from page 2 onwards.
The same is being replicated by Profiquity. Does a respectable investment advisory flood irrelevant websites with the word Profiquity? Why would you want to do so?
The SEO operations of Osar and Profiquity are eerily similar.
Next, coming to the email newsletters of Profiquity. Where did you get the email database and other contact details of former HBJ clients?
Many former clients of HBJ had not heard of Profiquity UNTIL Profiquity started sending them email newsletters.
Some of these clients are receiving these newsletters on discontinued email IDs (that was only in the database of HBJ and nowhere else).
There are millions of email IDs in existence. Why is that former customers of HBJ are being contacted on their exact email IDs that was registered with HBJ Capital?
There are only two ways you can do this:-
1) You have the full cooperation and are in agreement with the banned HBJ capital directors/individuals
(see the SEBI HBJ pdf below for the people who were banned from working in the capital markets). Otherwise, why and how would they share their client database with you?
These are the people who would have access to the database and permission to share or sell this data. Why would HBJ and its directors give this database to anybody for free?
OR
2) You have stolen the database and other client details of HBJ capital. This is fraud. You are stealing the intellectual capital of another firm without any agreement or knowledge. You can be prosecuted in civil and criminal courts for stealing customer data of HBJ Capital.
Why would any person be interested in giving their hard earned money for advisory services to a firm that will steal databases OR works with individuals banned by SEBI from advisory services?
With the above two explanations, why would anybody want to be a client of Profiquity?
The burden to prove both explanations are false is the responsibility of Profiquity. To claim that "I" or logtk is defaming you is a laughable matter.
It boils down to a simple question.
As an investment advisory, why are you getting involved with the wrong people or doing wrong activities (stealing databases)?
Why should any potential client trust you for your advice for their hard earned money?
Are you trustworthy? NO.
http://watchoutinvestors.com/Press_Release/sebi/2015164_comp8774.pdf (HBJ Capital order)
In the above pdf, SEBI had ordered HBJ Capital (related firms and its directors) to cease all activities in securities market,directly or indirectly, in any manner whatsoever.
This order was dated June 15, 2015.
This means that neither the firm (HBJ, related firm, its directors) had the permission to remove HBJ data, sell it or share it with anybody AFTER June 15, 2015.
This is customer data of HBJ and it belongs to the firm and firm alone. Not to anybody else. It is property of the company (HBJ).
Now, checking details of profiquity.com, (https://www.whois.com/whois/profiquity.com)
It was registered only by May 2016.
If one were to extract the registration details of Profiquity (provided through the rental agreement and service tax registration) you will get additional proof that Profiquity started operations in 2016.
You (Profiquity) has gotten access to HBJ's client details AFTER HBJ was asked to shut down (and not conduct business) by SEBI.
HBJ was not allowed to sell, share or distribute this data after June 15, 2015.
So how did the data of HBJ get into the hands of Profiquity almost 1 year later?
This means either the directors (and, or HBJ) is illegally selling or sharing data without SEBI's permission
OR
Profiquity has stolen this data without knowledge or permission, which rightfully belongs to HBJ Capital.
Since SEBI has banned HBJ from doing business, one can draw the conclusion that either way, Profiquity is indulging in illegal activities.
And you threaten to send me legal noticies for defamation?
SEBI would sure like to hear about this in detail.
Unless you stop harassing me, SEBI will hear about this and people will get into trouble AGAIN with SEBI.
Because, if you do anything legal against this blog, SEBI will also be party to this case.
Your modus operandi is the same as HBJ & Osar capital.
STOP contacting former clients of HBJ capital.
Profiquity might be run by a SEBI registered advisor but so was Osar capital...until it got barred.
............................................
2nd comment by Nishant
You are yet to respond to my reply on your first defamatory post. I have already initiated legal proceedings against your blog posts and if you have the courage kindly share your contact details rather than acting like a troll. Reveal your identity and be prepared to face the consequences of trying to defame a genuine SEBI registered advisory. If you don't like our newsletters you can simply unsubscribe.
First comment by Nishant
Dear Whoever You are,
Yes I have worked with HBJ Capital before and SEBI gave me advisory license after thorough background check. Our promotion style maybe similar to that of HBJ but that doesn't mean that you get the right to defame us and call us fraud just because you had bad experience with HBJ. I'm aware of many HBJ offshoots which continue to dupe clients but none of them is SEBI registered. I'm in no way in touch with any of HBJ promoters or directors. So I expect you to remove your defamatory blog posts or I will have to initiate legal action. You can reach me on 8892520002 or write to me at nishant@profiquity.com if you need more details about our investment advisory services.
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