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SOURCE OF INFORMATION

SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 27-AUG-2026

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

PERSONS: CANCELLED REGISTRATION AS INVESTMENT ADVISOR

S.No. PERSON ENTITY REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
41
History of entity/person ASHISH SINGH

(PAN:AKJPT1053B)  
Click here to view complete history of this specific entity/person COFAGR INVESTMENT ADVISOR

PAN:AKJPT1053B
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025 		 
42
History of entity/person ASHUTOSH GUPTA

(PAN:AFVPG1496C)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025 		 
43
History of entity/person ATEET HEMANT WAGH

(PAN:AABPW1899G)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025 		 
44
History of entity/person AVI KUMAR

(PAN:BXTPK0509B)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026 		 
45
History of entity/person AYUSH BHARGAVA

(PAN:AOWPB9949R)  
Click here to view complete history of this specific entity/person BHARGAVA FINANCIAL PLANNERS

PAN:AOWPB9949R
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026 		 
46
History of entity/person AYUSH GOEL

(PAN:BINPG5668Q)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025 		 
47
History of entity/person BASAVRAJ M.SHETTY

(PAN:AVWPS6380C)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025 		 
48
History of entity/person BHUPENDRA SHANTILAL BORA

(PAN:AIBPB3599C)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025 		 
49
History of entity/person BHUPENDRA SINGH RAGHUWANSHI

(PAN:ANPPR7825L)  
Click here to view complete history of this specific entity/person RUDRA INVESTMENT

PAN:ANPPR7825L
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025 		 
50
History of entity/person BINDU BHAT

(PAN:ADJPB0276D)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025 		 
51
History of entity/person CHANDRASHEKHAR K.PANDULKAR

(PAN:AMJPP6827B)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025 		 
52
History of entity/person CHETAN AHUJA

(PAN:AHMPA0529P)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026 		 
53
History of entity/person CHIRAG GOKANI

(PAN:AEPPG8593M)  
Click here to view complete history of this specific entity/person WEALTHWIZ ADVISORS

PAN:AEPPG8593M
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026 		 
54
History of entity/person DEEPAK MISHRA

(PAN:BLVPM9284R)  
Click here to view complete history of this specific entity/person MONEY CLASSIC

PAN:BLVPM9284R
  		DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI VIDE IT’S EARLIER ORDER

DID NOT REDRESS INVESTOR COMPLAINTS

NOT A FIT & PROPER PERSON TO ACT AS AN INVESTMENT ADVISOR

PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS   		CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 29-DEC-2023 TO 28-DEC-2024

RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING/SELLING OR OTHERWISE DEALING IN SECURITIES AND/OR UNITS OF MUTUAL FUNDS DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER FROM 29-DEC-2023 TO 28-DEC-2024

DIRECTED TO RESOLVE ALL PENDING COMPLAINTS

DIRECTED TO FURNISH REPORT TO SEBI DULY CERTIFIED BY CHARTERED ACCOUNTANT RESOLVED ALL COMPLAINTS

DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 29-DEC-2023 TO 28-DEC-2024

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS WITHOUT PRIOR PERMISSION OF SEBI

29-DEC-2023 		 
55
History of entity/person DESHRAJ SINGH THAKUR

(PAN:AOAPT8664H)  
Click here to view complete history of this specific entity/person BULLMART RESEARCH

PAN:AOAPT8664H
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026 		 
56
History of entity/person DEVENDRA SINGH NEGI

(PAN:AGBPN9657K)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025 		 
57
History of entity/person DHARMENDRA KUMAR LODHI

(PAN:AJZPL7369K)  
Click here to view complete history of this specific entity/person STAR INDIA MARKET RESEARCH

PAN:AJZPL7369K
  		PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS

DID NOT CARRY OUT RISK PROFILING OF CLIENTS

DID NOT ENSURE SUITABILITY ADVICE PROVIDE TO CLIENTS

CARRIED OUT IMPROPER RISK PROFILING OF CLIENTS

LEADING QUESTIONS IN QUESTIONNAIRE FOR RISK PROFILING

SOLD PRODUCTS TO CLIENTS WHICH WERE NOT SUITABLE TO RISK PROFILE OF THE CLIENTS

OFFERED PRODUCTS/SERVICES WITHOUT ASSESSING APPROPRIATE RISK BEARING CAPACITY OF THE CLIENTS

SOLD HNI SERVICES TO NON-HNI CLIENTS

CHARGED UNREASONABLE, ARBITRARILY AND INCONSISTENT FEE

CHARGED SERVICE FEES DISPROPORTIONATE TO ANNUAL INCOME/PROPOSED INVESTMENT

CHARGED EXTRA MONEY FROM CLIENTS/INVESTORS

DID NOT RENDER SERVICE EVEN AFTER RECEIPT OF FEES

OBTAINED REGISTRATION FROM SEBI AS AN INVESTMENT ADVISER BY SUBMITTING INCORRECT INFORMATION

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT PROVIDE INFORMATION TO SEBI

DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI VIDE IT’S EARLIER ORDER   		CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 29-DEC-2023

29-DEC-2023 		 
58
History of entity/person DHARMESH AGARWAL

(PAN:AEVPA5923P)  
Click here to view complete history of this specific entity/person RUDRAKSH INVESTMENT

PAN:AEVPA5923P
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025 		 
59
History of entity/person DHARMESH PARMAR

(PAN:AKJPP3569N)  
  DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025 		 
60
History of entity/person DIVYESH DIPAKKUMAR PATEL

(PAN:ARLPP0312L)  
Click here to view complete history of this specific entity/person SHUBH STOCKS CAPITAL

PAN:ARLPP0312L
  		DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER   CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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