| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 1 |
|
24 CARAT FINANCIAL SERVICES
(PAN:AABFZ6175A)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
21-JUL-2026
|
|
| 2 |
|
|
24 CARAT FINANCIAL SERVICES
(PAN:AABFZ6175A)
|
|
|
DID NOT MAINTAIN RATIONALES OF ALL THE RECOMMENDATIONS AND DID NOT CAPTURE SUPPORTING DATA IN RATIONALE
DID NOT OBTAIN NISM CERTIFICATION AS RESEARCH ANALYST
MISLED CLIENTS BY MAKING ASSURED PROFIT COMMITMENT
|
IMPOSED PENALTY RS.6,00,000
18-OCT-2022
|
SAT: SAT VIDE ITS ORDER DATED 18/01/2023 DISMISSED THE APPEAL. NO COSTS
|
| 3 |
|
|
A PLUS CAPITAL SERVICES
(PAN:ABBFA7185J)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 4 |
|
|
ACE INVESTMENT ADVISORY
|
|
|
|
AVTAR SINGH
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 20-AUG-2026
20-AUG-2026
|
|
| 5 |
|
|
AFFLUENCE FINCON SERVICE PVT.LTD.
(PAN:AAHCA7554R)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
28-JUL-2026
|
|
| 6 |
|
|
ALCHEMISTS ARK PVT.LTD.,THE
(PAN:AABCT5190J)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 7 |
|
|
ARCADIA RESEARCH
(PAN:AHMPA6693C)
|
|
|
|
CLYDE ANDRADES
PAN:AHMPA6693C
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 8 |
|
|
ARYA FIN-TRADE SERVICES (INDIA) PVT.LTD.
(PAN:AAICA5544Q)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
30-JUN-2026
|
|
| 9 |
|
|
ARYAAMEDH CONSULTING
(PAN:ABIFA2067J)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 10 |
|
|
ASMITA PATEL GLOBAL SCHOOL OF TRADING PVT.LTD.
(PAN:AASCA6577F)
|
|
|
|
ASMITA JITESH PATEL
PAN:BQTPP3844B
|
|
|
JIGAR RAMESHBHAI DAWADA
PAN:AKVPD3098G
|
|
|
JITESH JETHALAL PATEL
PAN:AIJPP3326R
|
|
|
SAGAR DHANJIBHAI
PAN:EGGPS8029K
|
|
|
SURESH PARMASHIVAM
PAN:EPGPP1022C
|
|
ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION
ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION
|
CEASED AND DESIST FROM OFFERING UNREGISTERED INVESTMENT ADVISORY/PORTFOLIO MANAGEMENT SERVICES/RESEARCH ANALYST SERVICES FROM 06-FEB-2025 TILL FURTHER ORDERS
CEASED TO SOLICIT OR UNDERTAKE INVESTMENT ADVISORY ACTIVITIES OR ANY OTHER ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 06-FEB-2025 TILL FURTHER ORDERS
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 06-FEB-2025 TILL FURTHER ORDERS
DIRECTED TO DISGORGE RS.53,67,46,384 ALONG WITH OTHER ENTITIES/PERSONS
DIRECTED TO OPEN FIXED DEPOSIT ACCOUNTS EITHER IN ANY NOTICEE’S NAME OR JOINTLY/SEVERALLY WITH LIEN MARK IN FAVOUR OF SEBI AND MONIES KEPT THEREIN NOT TO BE RELEASED WITHOUT PERMISSION FROM SEBI
DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI
DIRECTED DEPOSITORIES THAT NO DEBIT TO BE MADE WITHOUT PERMISSION OF SEBI
DIRECTED BANKS AND/OR DEPOSITORIES AND/OR CUSTODIANS TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS
DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES
DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT
DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS
DIRECTED NOT TO COLLECT ANY MONEY AND/OR FEE FROM THE INVESTORS FROM 06-FEB-2025 TILL FURTHER ORDERS
DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO THOSE SCHEMES / ACTIVITIES (INVESTMENT ADVISER AND ALTERNATIVE INVESTMENT FUND, AND/OR RESEARCH ANALYST) OR ANY UNREGISTERED ACTIVITIES FROM 06-FEB-2025 TILL FURTHER ORDERS
06-FEB-2025
|
SAT: SAT VIDE ITS ORDER DATED 09/01/2026 A) DIRECTED SEBI TO FURNISH DOCUMENTS AT SERIAL NO.1 AND 3 2) REQUEST FOR DOCUMENTS MENTIONED AT SERIAL NOS.5,6 AND 7 NOT PRESSED 3) REQUEST REJECTED FOR DOCUMENTS MENTIONED AT SERIAL NO.2,9 AND 10. NO COSTS
|
| 11 |
|
|
AVADHUT SATHE TRADING ACADEMY PVT.LTD.
(PAN:AATCA1675K)
|
|
|
|
AVADHUT DINKAR SATHE
PAN:BCSPS7915K
|
|
ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION
ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
DISSEMINATED MISLEADING INFORMATION AND ADVERTISEMENTS THROUGH SOCIAL MEDIA PLATFORMS
|
CEASED AND DESIST FROM OFFERING UNREGISTERED INVESTMENT ADVISORY/PORTFOLIO MANAGEMENT SERVICES/RESEARCH ANALYST SERVICES FROM 04-DEC-2025 UNTIL FURTHER ORDERS
CEASED TO SOLICIT OR UNDERTAKE INVESTMENT ADVISORY ACTIVITIES OR ANY OTHER ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 04-DEC-2025 UNTIL FURTHER ORDERS
DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS
DIRECTED NOT TO COLLECT ANY MONEY AND/OR FEE FROM THE INVESTORS FROM 04-DEC-2025 UNTIL FURTHER ORDERS
DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO THOSE SCHEMES / ACTIVITIES (INVESTMENT ADVISER AND ALTERNATIVE INVESTMENT FUND, AND/OR RESEARCH ANALYST) OR ANY UNREGISTERED ACTIVITIES FROM 04-DEC-2025 UNTIL FURTHER ORDERS
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 04-DEC-2025 UNTIL FURTHER ORDERS
DIRECTED TO DISGORGE RS.5,46,16,65,367 ALONG WITH OTHER ENTITIES/PERSONS
DIRECTED TO OPEN FIXED DEPOSIT ACCOUNTS EITHER IN ANY NOTICEE’S NAME OR JOINTLY/SEVERALLY WITH LIEN MARK IN FAVOUR OF SEBI AND MONIES KEPT THEREIN NOT TO BE RELEASED WITHOUT PERMISSION FROM SEBI
DIRECTED BANKS THAT NO DEBIT SHALL BE MADE WITHOUT PERMISSION OF SEBI
DIRECTED DEPOSITORIES THAT NO DEBIT TO BE MADE WITHOUT PERMISSION OF SEBI
DIRECTED BANKS AND/OR DEPOSITORIES AND/OR CUSTODIANS TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS
ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF COMPLYING WITH THIS ORDER
DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES
DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT
04-DEC-2025
|
SAT: SAT VIDE ITS ORDER DATED 19/12/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER, IF ANY, TO BE FILED WITHIN THREE WEEKS THEREAFTER. DIRECTED BANKS THAT PENDING CONSIDERATION OF INTERIM PRAYER, PERMIT APPELLANTS TO WITHDRAW OF RS.2.25 CRORE FOR THIS MONTH EXPENDITURE
SAT: SAT VIDE ITS ORDER DATED 22/01/2026 PARTLY ALLOWED THE APPEAL BY MODIFYING DIRECTIONS IN PARA NO.83(IX) AND ORDER THAT DIRECTIONS STIPULATED IN PARA NO.(III), (VI) AND (VII) SHALL CEASE TO APPLY UPON APPELLANTS DEPOSITING RS.100 CRORE IN TERMS OF DIRECTION 83(V) B) APPELLANTS TO FILE AFFIDAVIT BEFORE WTM OF SEBI DISCLOSING FULL DETAILS OF THEIR ASSETS WITH VALUATION CERTIFICATE BY SEBI CERTIFIED VALUER AND TO UNDERTAKE NOT TO ALIENATE FIXED ASSETS WITHOUT LEAVE OF WTM C) APPELLANTS TO FILE REPLY WITHIN FOUR WEEKS FROM DATE OF THIS ORDER. NO COSTS
SAT: SAT VIDE ITS ORDER DATED 16/02/2026 DISMISSED THE APPEAL. NO COSTS
|
| 12 |
|
|
BANSAL FINSTOCK PVT.LTD.
(PAN:AACCB1150H)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
21-JUL-2026
|
|
| 13 |
|
|
BMA WEALTH CREATORS LTD.
(PAN:AACCB5141L)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 20-AUG-2026
20-AUG-2026
|
|
| 14 |
|
|
BONANZA PORTFOLIO LTD.
(CIN:U65991DL1993PLC052280
PAN:AAACB0764B)
|
|
|
DID NOT MENTION THE TERM ‘RESEARCH ANALYST’ IN ALL ITS CORRESPONDENCES AND NOT MENTIONED REGISTRATION DETAILS IN THE RESEARCH REPORTS AND ITS WEBSITE
DID NOT INFORM SEBI ABOUT MATERIAL CHANGES WITH RESPECT TO CHANGES IN ITS RESEARCH ANALYSTS AND NOT UPDATED VARIOUS DETAILS ON SI PORTEL
DID NOT ABLE TO MONITOR TRADING ACTIVITIES OF RESEARCH ANALYST EMPLOYED
DID NOT RECORD AND MAINTAIN RATIONALE WITH RESPECT TO TECHNICAL RECOMMENDATIONS DURING INSPECTION PERIOD AND DID NOT PROVIDE GRAPH OF DAILY CLOSING PRICE FOR SECURITIES COVERED IN RESEARCH REPORT
DID NOT PROVIDE REQUIRED DISCLOSURES ALONG WITH ITS RESEARCH RECOMMENDATIONS THROUGH WHATSAPP, TELEGRAM GROUPS AND TRADING TERMINALS AND IN PUBLISHED ARTICLES AND WHILE APPEARING IN THE MEDIA
DID NOT OBTAIN SCORES REGISTRATION AT THE TIME OF INSPECTION
PROVIDED INCORRECT SCORES LOGIN ID WITH RESPECT TO PORTFOLIO MANAGEMENT SERVICES ACTIVITIES
|
IMPOSED PENALTY RS.9,00,000
24-JUL-2024
|
SEBI VIDE ITS ORDER DATED 18/11/2024 DISPOSED OF THE PROCEEDINGS WITHOUT ISSUANCE ANY DIRECTIONS
|
| 15 |
|
|
B-RIGHT CAPITAL
(PAN:AAUFB0749F)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 16 |
|
|
CAPITALSTARS FINANCIAL RESEARCH PVT.LTD.
(PAN:AAECC5843N)
|
|
|
|
ABHISHEK UPADHYAY
PAN:ABKPU2337H
|
|
|
AMIT SHARMA
PAN:BUKPS0563F
|
|
|
ANIRUDH YADAV
PAN:ABYPY8297L
|
|
|
RISHBHA BANTHIA
PAN:AMYPB9003A
|
|
DID NOT CARRY OUT RISK PROFILING OF CLIENTS
USED LEADING AND VAGUE QUESTIONS IN RISK PROFILING FORM
COLLECTED INSUFFICIENT AND INCOMPLETE INFORMATION WITHOUT SUPPORTING DOCUMENTS THROUGH RISK PROFILING QUESTIONNAIRE
OFFERED PRODUCTS/SERVICES WITHOUT ASSESSING APPROPRIATE RISK BEARING CAPACITY OF THE CLIENTS
CARRIED OUT IMPROPER RISK PROFILING OF CLIENTS
CHARGED SERVICE FEES DISPROPORTIONATE TO ANNUAL INCOME/PROPOSED INVESTMENT
SOLD ADVISORY SERVICES/PACKAGES TO SAME CLIENTS ON MULTIPLE OCCASION AT DIFFERENT ARBITRARY PRICE FOR FUTURE/OVERLAPPING PERIOD WHILE EXISTING SUBSCRIPTION WAS ACTIVE
DID NOT MAINTAIN RECORDS OF COMMUNICATION WITH CLIENTS DURING RISK PROFILING AND SUITABILITY ASSESSMENT OF ADVICE/SELECTION OF ADVISORY PRODUCT/SERVICES
DID NOT REPORT SUSPICIOUS TRANSACTIONS UNDER PMLA/AML PROVISONS
DID NOT HAVE REQUISITE NISM CERTIFICATES AT ALL TIMES TO PROVIDE INVESTMENT ADVICE
PROVIDED FALSE INFORMATION REGARDING DETAILS OF COMPLIANCE OFFICER
DID NOT OBTAIN NISM CERTIFICATION AS RESEARCH ANALYST
DID NOT COMMUNICATE RISK PROFILE TO CLIENTS
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-DEC-2022 TO 15-MAR-2023
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-DEC-2022 TO 15-MAR-2023
DIRECTED TO RESOLVE ALL PENDING COMPLAINTS
DIRECTED TO UPDATE AML, PMLA POLICY AS PER SEBI MASTER CIRCULAR DATED 15/10/2019 AND APPOINT DESIGNATED DIRECTORS AS PER SEBI CIRCULAR DATED 12/03/2014 WITHIN THREE MONTHS
IMPOSED PENALTY RS.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
16-DEC-2022
|
|
| 17 |
|
|
CCR TECHNOLOGIES PVT.LTD.
(PAN:AACCC2792C)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 18 |
|
|
CENTRE FOR CORRECT & ACCURATE BALANCE SHEET ANALYSIS
(PAN:ABEPP8813D)
|
|
|
|
GYAN CHAND PIPARA
PAN:ABEPP8813D
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 19 |
|
|
CNI RESEARCH LTD.
(PAN:AACCC2842H)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
09-JUL-2026
|
|
| 20 |
|
|
COMFORT SECURITIES LTD.
(PAN:AABCC9625R)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST
30-JUN-2026
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 1 of 5
|
