| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 61 |
|
HNI RESEARCH
(PAN:AKDPG6338G)
|
|
|
|
DWARKA PRASAD GUPTA
PAN:AKDPG6338G
|
|
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
DID NOT PROVIDE INFORMATION TO SEBI
DID NOT INFORM SEBI PRIOR TO CHANGING ITS REGISTERED OFFICE ADDRESS
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 27-APR-2023
27-APR-2023
|
|
| 62 |
|
|
INSANE TRADERS
(PAN:BENPB0608D)
|
|
|
|
KETAN BORA
PAN:BENPB0608D
|
|
DID NOT APPLY FOR REGISTRATION AS NON-INDIVIDUAL INVESTMENT ADVISOR
DID NOT MAINTAIN AND PROVIDE RECORD OF CLIENTS AND COPY OF AGREEMENT EXECUTED BETWEEN CLIENTS
DID NOT PROVIDE DETAILS OF KRA PROCESS AT THE TIME OF ON-SITE INSPECTION AND DID NOT FOLLOW KYC PROCESS WHILE ONBOARDING CLIENTS
DID NOT PROVIDE DOCUMENTED PROCESS FLOW TO IDENTIFY RISK PROFILE/ RISK SCORE OF CLIENTS TO DECIDE ON THEIR SUITABILITY FOR FINANCIAL PRODUCTS
DID NOT PROVIDE DOCUMENTED PROCESS FLOW AND DETAIL QUESTIONNAIRE FOR RISK PROFILING CLIENT
DID NOT MAKE DISCLOSURES ABOUT MATERIAL INFORMATION ABOUT ITSELF INCLUDING BUSINESS, DISCIPLINARY HISTORY, ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST, ETC.
DID NOT MAINTAIN MINIMUM NETWORTH
DID NOT RENEW NISM X-A & NISM X-B CERTIFICATE
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 28-JAN-2025
28-JAN-2025
|
|
| 63 |
|
|
INVESTMENT VIA INVESTMENT ADVISORY
(PAN:AGJPV2875P)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
07-AUG-2026
|
|
| 64 |
|
|
INVESTMENT VISOR
(PAN:AISPV5820B)
|
|
|
|
PRAVEEN VERMA
PAN:AISPV5820B
|
|
PROVIDED INVESTMENT ADVICE ON FREE TRIALS TO CLIENTS
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
DID NOT POSSESS NISM CERTIFICATE
SOLD PRODUCTS TO CLIENTS WHICH WERE NOT SUITABLE TO RISK PROFILE OF THE CLIENTS
DID NOT MAINTAIN RECORDS OF COMMUNICATION WITH CLIENTS DURING RISK PROFILING AND SUITABILITY ASSESSMENT OF ADVICE/SELECTION OF ADVISORY PRODUCT/SERVICES
DID NOT CO-OPERATE AND NOT SUBMITTED DOCUMENTS DURING INSPECTION
DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR’S GRIEVANCES IN STIPULATED TIME
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 07-JUN-2023
07-JUN-2023
|
|
| 65 |
|
|
INVESTO RESEARCH
(PAN:ALYPC5937B)
|
|
|
|
GIRIRAJ CARPANTER
PAN:ALYPC5937B
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
27-NOV-2025
|
|
| 66 |
|
|
KRISHNA FINZPLAN LLP
(PAN:AAQFK8788B)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025
25-APR-2025
|
|
| 67 |
|
|
LUCID TECHNOLOGIES
(PAN:AAGFL2418R)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
27-NOV-2025
|
|
| 68 |
|
|
MANTHAN STOCKS
(PAN:CGGPB2147B)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
27-NOV-2025
|
|
| 69 |
|
|
MARKET CAPTAINS INVESTMENT ADVISOR
(PAN:BSHPS7756M)
|
|
|
|
AMIT SONI
PAN:BSHPS7756M
|
|
DID NOT ADHERE TO SEBI DIRECTIONS WITH RESPECT TO INSPECTION OF BOOKS OF ACCOUNTS/RECORDS AND OTHER DOCUMENT PERTAINING TO REGISTRATION
DID NOT SUBMIT MATERIAL INFORMATION TO SEBI
NOT A FIT & PROPER PERSON TO ACT AS AN INVESTMENT ADVISOR
CHARGED ARBITRARY/DISPROPORTIONATE AMOUNT FOR SIMILAR SERVICE AND SIMILAR DURATION
DID NOT DISPLAY COMPLAINTS STATUS ON WEBSITE
PROVIDED INVESTMENT ADVICE ON FREE TRIALS TO CLIENTS
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR’S GRIEVANCES IN STIPULATED TIME
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 28-NOV-2022
DIRECTED TO REFUND MONEY TO THE INVESTORS
DIRECTED TO REDRESS INVESTOR GRIEVANCES
28-NOV-2022
|
SAT: SAT VIDE ITS ORDER DATED 28/01/2025 GRANTED APPELLANT TO FILE REJOINDER
|
| 70 |
|
|
MG FUNDS PVT.LTD.
(PAN:AAKCM3614M)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-JUL-2025
25-JUL-2025
|
|
| 71 |
|
|
MI RESEARCH
(PAN:ANIPJ1043K)
|
|
|
|
ASHISH JAIN
PAN:ANIPJ1043K
|
|
DID NOT MAINTAIN RECORDS AS PER KNOW YOUR CLIENTS (KYC) PROCEDURES
DID NOT CONDUCT YEARLY AUDIT IN RESPECT OF COMPLIANCE WITH INVESTMENT ADVISERS REGULATIONS FROM A MEMBER OF ICAI OR ICSI
DID NOT FOLLOW KNOW YOUR CLIENT (KYC) PROCEDURE SPECIFIED BY SEBI FROM
TIME TO TIME
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
DID NOT MAINTAIN RECORDS PERTAINING TO RISK PROFILING AND RISK ASSESSMENT OF CLIENTS
DID NOT COMMUNICATE RISK PROFILE TO CLIENTS
CARRIED OUT IMPROPER RISK PROFILING OF CLIENTS
SOLD ADVISORY SERVICES/PRODUCTS TO CLIENTS WITHOUT ENSURING SUITABILITY OF ADVICE ACCORDING TO THEIR RISK PROFILE
DID NOT MAINTAIN RECORDS OF COMMUNICATION WITH CLIENTS DURING RISK PROFILING AND SUITABILITY ASSESSMENT OF ADVICE/SELECTION OF ADVISORY PRODUCT/SERVICES
DID NOT SUBMIT INFORMATION SOUGHT BY SEBI
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 22-FEB-2024
22-FEB-2024
|
|
| 72 |
|
|
MILLENNIUM GLOBAL RESEARCH (INVESTMENT ADVISOR)
(PAN:AUHPD5132H)
|
|
|
|
NITIN DODEJA
PAN:AUHPD5132H
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
27-NOV-2025
|
|
| 73 |
|
|
MINANCE INVESTMENT ADVISORS PVT.LTD.
(CIN:U74999KA2017PTC108408
PAN:AALCM4744M)
|
|
|
|
ANURAG BHATIA
DIN:07012878
PAN:AVEPB6967G
|
|
DID NOT SUBMIT MATERIAL INFORMATION TO SEBI
DID NOT ADHERE TO REQUIREMENT OF CAPITAL ADEQUACY
DID NOT APPOINT COMPLIANCE OFFICER
DID NOT PROVIDE INFORMATION TO SEBI
|
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 20-OCT-2020 TO 19-OCT-2025
CEASED & DESIST FROM UNDERTAKING ANY ACTIVITY IN SECURITIES MARKET INCLUDING ACTIVITY OF ACTING AND REPRESENTING THROUGH ANY MEDIA (PHYSICAL OR DIGITAL) AS AN INVESTMENT ADVISOR, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 20-OCT-2020 TO 19-OCT-2025
DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 20-OCT-2020 TO 19-OCT-2025
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
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 20-OCT-2020 TO 19-OCT-2025
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 BANKS NOT TO ALLOW ANY DEBITS/WITHDRAWLS AND CREDITS FROM ACCOUNT WITHOUT PERMISSION OF SEBI FROM 20-OCT-2020 TO 19-OCT-2025
DIRECTED DEPOSITORIES TO ENSURE THAT NO DEBITS AND/OR CREDITS MADE IN DEMAT ACCOUNTS, HELD JOINTLY OR SEVERALLY, OF ENTITIES AND PERSONS
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 TO RESOLVE ALL PENDING COMPLAINTS
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 20-OCT-2020 TO 19-OCT-2025
20-OCT-2020
|
SEBI VIDE ITS ORDER DATED 20/04/2021 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS INTERIM ORDER DATED 20/10/2020
SEBI VIDE ITS ORDER DATED 31/05/2023 DIRECTED TO A) CANCEL CERTIFICATE OF REGISTRATION AS INVESTMENT ADVISER B) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES, DIRECTLY OR INDIRECTLY OR BEING ASSOCIATED WITH SECURITIES MARKET IN ANY MANNER, WHATSOEVER FOR FIVE YEARS FROM INTERIM ORDER C) RESOLVE THE COMPLAINTS PENDING IN SCORES TO INVESTMENT ADVISORY SERVICES WITHIN THIRTY DAYS FROM DATE OF THIS ORDER
|
| 74 |
|
|
MONETARY SOLUTIONS
(PAN:AESPV8788G)
|
|
|
|
ANKIT VYAS
PAN:AESPV8788G
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
07-AUG-2026
|
|
| 75 |
|
|
MONEY CAPITAL LIVE
(PAN:AKXPT4512B)
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR
27-NOV-2025
|
|
| 76 |
|
|
MONEY CAPITALHEIGHT RESEARCH INVESTMENT ADVISERS PVT.LTD.
(PAN:AAHCM2437R)
|
|
|
DID NOT MAINTAIN INFRASTRUCTURE AND QUALIFICATION/CERTIFICATION REQUIREMENTS
DID NOT FOLLOW PROPORTIONATE FEE STRUCTURE
DID NOT FOLLOW PRESCRIBED FORMAT OF AGREEMENT
DID NOT MAINTAIN PROPER RECORDS EITHER IN PHYSICAL FORM OR ELECTRONIC FORM
ENGAGED IN FORGERY OF SIGNATURE, MIS-SELLING OF PRODUCTS/SERVICES NOT IN ACCORDANCE WITH THE RISK PROFILE OF THE CLIENTS ETC.
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 24-APR-2024
24-APR-2024
|
SAT: SAT VIDE ITS ORDER DATED 22/08/2024 GRANTED RESPONDENT FOUR WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER TWO WEEKS THEREAFTER
SAT: SAT VIDE ITS ORDER DATED 13/11/2024 GRANTED APPELLANT THREE WEEKS TO FILE REJOINDER
SAT: SAT VIDE ITS ORDER DATED 28/04/2025 GRANTED APPELLANT THREE WEEKS TO FILE REJOINDER
|
| 77 |
|
|
MONEY CLASSIC
(PAN:BLVPM9284R)
|
|
|
|
DEEPAK MISHRA
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
|
|
| 78 |
|
|
MONEY DESIRE RESEARCH
(PAN:AAYFM6388F)
|
|
|
DID NOT ADHERE TO THE DIRECTIVES/INSTRUCTIONS/GUIDELINES ISSUED BY SEBI VIDE IT’S EARLIER ORDER
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
SOLD MULTIPLE PRODUCTS AND CHARGED UNREASONABLE FEES AND/OR SERVICE CHARGE
SOLD ADVISORY SERVICES/PRODUCTS TO CLIENTS WITHOUT ENSURING SUITABILITY OF ADVICE ACCORDING TO THEIR RISK PROFILE
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 28-NOV-2022
28-NOV-2022
|
|
| 79 |
|
|
MONEY INDIA RESEARCH
|
|
|
DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-AUG-2026
21-AUG-2026
|
|
| 80 |
|
|
MONEY MARKET MANTHAN FINANCIAL SERVICES
(PAN:AWDPK4671L)
|
|
|
|
VICKY KAMARIYA
PAN:AWDPK4671L
|
|
DID NOT PROVIDE INFORMATION TO SEBI
DIVULGED SENSITIVE/CONFIDENTIAL CLIENT INFORMATION TO THIRD PARTY
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
SOLD ADVISORY SERVICES/PRODUCTS TO CLIENTS HAVING DIFFERENT NAMES BUT SAME FEATURE
DID NOT HAVE REQUISITE NISM CERTIFICATES AT ALL TIMES TO PROVIDE INVESTMENT ADVICE
DID NOT MAINTAIN RECORDS OF COMMUNICATION WITH CLIENTS DURING RISK PROFILING AND SUITABILITY ASSESSMENT OF ADVICE/SELECTION OF ADVISORY PRODUCT/SERVICES
SOLD MULTIPLE PRODUCTS AND CHARGED UNREASONABLE FEES AND/OR SERVICE CHARGE
DID NOT MAKE DISCLOSURE TO CLIENTS OF ALL MATERIAL FACTS/INFORMATION ABOUT BUSINESS, DISCIPLINARY HISTORY, AFFILIATION WITH OTHER INTERMEDIARIES
DID NOT REDRESS INVESTOR COMPLAINTS
DID NOT FURNISH ACTION TAKEN REPORT IN CONNECTION WITH REDRESSAL OF INVESTOR’S GRIEVANCES IN STIPULATED TIME
DID NOT APPOINT PRINCIPAL OFFICER
|
CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 14-JUL-2023
14-JUL-2023
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 4 of 7
|
