| S.No. |
PERSON |
ENTITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 81 |
|
POOJA ANILKUMAR DHANUKA
(PAN:AWBPD2197C)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 82 |
|
|
PRACHITA
(PAN:ANTPD7372G)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 83 |
|
|
PRANAY DINESHBHAI MORAKHIYA
(PAN:BKZPM4700P)
|
|
|
|
EQWIRES RESEARCH ANALYST
PAN:AAHFE7504J
|
|
ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION
OPERATED/HANDLED TRADING ACCOUNT OF CLIENT AND EXECUTED TRADES
DISPLAYED MISLEADING AND/OR DECEPTIVE TESTIMONIALS ON ITS WEBSITE
|
IMPOSED PENALTY RS.6,00,000 ALONG WITH OTHER ENTITIES/PERSONS
13-AUG-2025
|
|
| 84 |
|
|
PRASHANT MANOHAR
(PAN:ACNPM0302J)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 85 |
|
|
PRATEEK JASORIYA
(PAN:AGLPJ2550K)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 86 |
|
|
PRATIT NAYAN PATEL
(PAN:AKSPP1991K)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 87 |
|
|
PRERNA SHARMA
(PAN:BJEPS7547A)
|
|
|
DID NOT USE TERM “RESEARCH ANALYST” IN COMMUNICATIONS
DID NOT MAKE DISCLOSURES SUCH AS MATERIAL CONFLICT OF INTEREST WITH SUBJECT COMPANY WHILE SENDING RECOMMENDATIONS
DID NOT PROVIDE INFORMATION RELIED UPON AND DID NOT DEFINE OR DISCLOSE TERMS MENTIONED IN ITS RECOMMENDATIONS TO CLIENTS
DID NOT MAINTAIN RESEARCH RATIONALE FOR RECOMMENDATIONS MADE WHICH WERE NOT EXECUTED
SUBMITTED FALSE WORK EXPERIENCE FROM MOTILAL OSWAL FINANCIAL SERVICES LTD., BEARING A FORGED SEAL
PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
|
IMPOSED PENALTY RS.15,00,000
30-DEC-2025
|
SEBI VIDE ITS NOTICE DATED 27/02/2026 DIRECTED TO PAY RS.15,46,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 23/03/2026 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS, MUTUAL FUNDS FOLIOS AND/OR POST OFFICE ACCOUNT EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
SAT: SAT VIDE ITS ORDER DATED 06/04/2026 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER IF ANY TO BE FILED WITHIN THREE WEEKS THEREAFTER
SEBI VIDE ITS NOTICE DATED 09/04/2026 ALLOWED THE APPEAL AND DIRECTED ALL THE BANKS IN INDIA/NSDL/CDSL TO RELEASE ALL THE BANK ACCOUNTS INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUND FOLIOS OF THE DEFAULTERS WHICH WERE ATTACHED PURSUANT TO THE NOTICE OF ATTACHMENT DATED 23/03/2026
SEBI VIDE ITS ORDER DATED 09/04/2026 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.9053 OF 2026 DATED 27/02/2026
|
| 88 |
|
|
PREYESH MEHTA
|
|
|
|
FUTURE FINTRADE
|
|
|
DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 01-NOV-2017 TO 31-OCT-2023
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 01-NOV-2017 TO 31-OCT-2023
DIRECTED TO FREEZE EXISTING HOLDING OF SECURITIES, INCLUDING UNITS OF MUTUAL FUNDS
CEASED AND DESIST FROM DISSEMINATING NEWS OR MESSAGES IN ANY FORM RELATED TO SECURITIES MARKET, BY ANY MEANS WHATSOEVER FROM 01-NOV-2017 TO 31-OCT-2023
01-NOV-2017
|
SEBI VIDE ITS ORDER DATED 30/10/2018 CONFIRMED THE DIRECTIONS ISSUED VIDE ITS AD INTERIM EX PARTE ORDER DATED 01/11/2017
SEBI VIDE ITS ORDER DATED 06/07/2022 DIRECTED TO A) RESTRAINED FROM ACCESSING SECURITIES MARKET AND FURTHER PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, OR BEING ASSOCIATING WITH SECURITIES MARKET IN ANY MANNER, WHATSOEVER FOR SIX YEARS B) DURING THE PERIOD OF RESTRAINT EXISTING HOLDING, INCLUDING UNITS OF MUTUAL FUNDS TO REMAIN FROZEN
|
| 89 |
|
|
PRITAM PRABODH DEUSKAR
(PAN:ALFPD0936Q)
|
|
|
DID NOT CONDUCT ANNUAL AUDIT IN RESPECT OF COMPLIANCE WITH SEBI (RESEARCH ANALYST) REGULATION, 2014 TILL THE INFORMATION RELATED TO ANNUAL AUDIT WAS SOUGHT BY SEBI VIOLATING REGULATION 25(3) AND CLAUSES 2 AND 7 OF CODE OF CONDUCT AS SPECIFIED IN THIRD SCHEDULE UNDER REGULATION 24(2) OF SEBI RA REGULATIONS, 2014
|
IMPOSED PENALTY RS.1,00,000
11-FEB-2025
|
|
| 90 |
|
|
PRIYANKA YADAV
(PAN:AFWPY1505P)
|
|
|
|
TRADE MONEY RESEARCH
PAN:AFWPY1505P
|
|
OBTAIN REGISTRATION FROM SEBI IN HER NAME BUT CARRIED OUT ITS RESEARCH ADVISORY SERVICES THROUGH MR.SANDEEP YADAV A PERSON DEBARRED BY SEBI FROM DEALING IN SECURITIES MARKET
CONCEALED THE FACT TO THE CLIENTS THAT THE OPERATIONS OF WERE BEING RUN BY A PERSON DEBARRED BY SEBI FROM SECURITIES MARKET’
DID NOT CONDUCT ANNUAL AUDIT FROM MEMBER OF ICAI/ICSI
DID NOT FURNISH REQUISITE 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, WHATSOEVER INCLUDING BY UNDERTAKING EITHER DIRECTLY OR INDIRECTLY ANY ACTIVITY IN NATURE OF RESEARCH ANALYST SERVICES FROM 29-JUL-2025 TO 28-JUL-2027
DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY
DIRECTED TO SEND ELECTRONIC MAIL TO CLIENTS
DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT
IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS
29-JUL-2025
|
|
| 91 |
|
|
PUNIT KUMAR
(PAN:AQHPK8566C)
|
|
|
|
SHRIMONEY
PAN:AQHPK8566C
|
|
MISLED CLIENTS BY MAKING ASSURED PROFIT COMMITMENT
DID NOT MAINTAIN RATIONALES OF ALL THE RECOMMENDATIONS AND DID NOT CAPTURE SUPPORTING DATA IN RATIONALE
|
IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS
27-JAN-2025
|
|
| 92 |
|
|
PUNIT KUMAR
(PAN:AQHPK8566C)
|
|
|
|
SHRIMONEY
PAN:AQHPK8566C
|
|
MISLED CLIENTS BY MAKING ASSURED PROFIT COMMITMENT
DID NOT MAINTAIN RATIONALES OF ALL THE RECOMMENDATIONS
|
PROHIBITED FROM TAKING NEW CLIENTS AS RESEARCH ANALYST FROM 06-OCT-2025 TO 05-NOV-2025
06-OCT-2025
|
|
| 93 |
|
|
PUROOSKHAN
(PAN:BCMPP7058L)
|
|
|
ALLOWED TO CONTINUE TO USE HIS SEBI REGISTRATION DETAILS ON THE WEBSITE OF OPTION RESEARCH CONSULTANCY WHICH WAS ACTING AS INVESTMENT ADVISOR WITHOUT SEBI REGISTERED
AIDED AND ABETTED OPTION RESEARCH CONSULTANCY IN FRAUDULENTLY COLLECTING INVESTMENT ADVISORY FEES FROM INVESTORS/CLIENTS
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 12-DEC-2025
12-DEC-2025
|
|
| 94 |
|
|
RAHUL
(PAN:ALQPB6255K)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 95 |
|
|
RAJESH RANJAN
(PAN:AROPR5161Q)
|
|
|
|
KM FINANCIALS
PAN:AROPR5161Q
|
|
ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION
|
DIRECTED TO REFUND MONEY TO THE INVESTORS
DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER
DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT
PROHIBITED FROM TAKING NEW CLIENTS AS RESEARCH ANALYST FROM 22-APR-2022 TILL THE COMPLETION OF REFUNDS TO COMPLAINANTS/CLIENTS
WARNED & CAUTIONS TO EXERCISE DUE CARE & DILIGENCE, IN FUTURE CONDUCT AS RESEARCH ANALYST
22-APR-2022
|
SAT: SAT VIDE ITS ORDER DATED 06/02/2023 ALLOWED THE APPEAL AND MATTER REMITTED TO WTM TO PASS FRESH ORDER
SEBI VIDE ITS ORDER DATED 26/04/2024 DIRECTED THAT THE DIRECTIONS ISSUED VIDE ORDER DATED 22/04/2022 WILL REMAIN IN FORCE TILL COMPLETION OF COMPLIANCE OF REFUND TO CLIENTS/INVESTORS
SAT: SAT VIDE ITS ORDER DATED 03/07/2025 CONDONED THE DELAY OF 318 DAYS IN FILING OF APPEAL. ACCEPTED APPELLANT SUBMISSION AND PERMITTED APPELLANT TO CARRY ON HIS PROFESSION AS RESEARCH ANALYST BY ENROLLING NEW CLIENTS. NO COSTS
|
| 96 |
|
|
RAJIV SHARMA
(PAN:BVYPS5256C)
|
|
|
|
CAPITAL LIFE MARKET RESEARCH
PAN:BVYPS5256C
|
|
DEFICIENCIES IN RECORD MAINTENANCE, KYC COMPLIANCE AND PERIODIC REPORTING
|
IMPOSED PENALTY RS.5,00,000 ALONG WITH OTHER ENTITIES/PERSONS
27-MAY-2026
|
|
| 97 |
|
|
RAKESH GUPTA
(PAN:ABZPG7813P)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 98 |
|
|
RAVI MANOHARLAL KATARIA
(PAN:ARBPK1107E)
|
|
|
DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST
|
CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 27-MAR-2025
27-MAR-2025
|
|
| 99 |
|
|
RISHBHA BANTHIA
(PAN:AMYPB9003A)
|
|
|
|
CAPITALSTARS FINANCIAL RESEARCH PVT.LTD.
PAN:AAECC5843N
|
|
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
|
|
| 100 |
|
|
ROHAN GUPTA
(PAN:BFGPG4350H)
|
|
|
INDULGED IN PROVIDING STOCK RECOMMENDATIONS THROUGH SOCIAL MEDIA PLATFORMS WITH THE INTENT TO ARTIFICIALLY INFLATE THE MARKET PRICE OF VARIOUS SCRIPS VIOLATING SECTIONS 12A(A) TO 12A(C) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1), 4(2)(A), 4(2)(D), 4(2)(E) AND 4(2)(K) OF SEBI (PFUTP) REGULATIONS, 2003
ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION
|
DIRECTED TO IMPOUND UNLAWFUL GAIN RS.13,61,89,366
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
DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 22-MAY-2026 UNTIL FURTHER ORDER
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
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
CEASED AND DESIST FROM OFFERING UNREGISTERED RESEARCH ANALYST SERVICES FROM ACTING AS OR HOLDING THEMSELVES OUT TO BE RESEARCH ANALYSTS
CEASED TO SOLICIT OR UNDERTAKE SUCH ACTIVITY OR ANY OTHER UNREGISTERED OR FRAUDULENT ACTIVITY IN SECURITIES MARKET DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER
22-MAY-2026
|
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
|
|
| Page 5 of 7
|
