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.

COMPANIES: CANCELLED REGISTRATION AS INVESTMENT ADVISOR

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

101

REVENUE MAKER FINANCIAL SERVICES

(PAN:CFLPS2029R)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

102

ROTHAMANS INVESTMENT ADVISORY

(PAN:AFWJP1649B)

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NALINI JINDAL

PAN:AFWJP1649B

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

103

RUDRA INVESTMENT

(PAN:ANPPR7825L)

BHUPENDRA SINGH RAGHUWANSHI

PAN:ANPPR7825L

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025

104

RUDRAKSH INVESTMENT

(PAN:AEVPA5923P)

DHARMESH AGARWAL

PAN:AEVPA5923P

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025

105

SAMRIDDHI CAPITALS

(PAN:AKXPJ5392B)

SHAILENDRA JAIN

PAN:AKXPJ5392B

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

106

SHAH INVESTOR'S HOME LTD.

(PAN:AAFCS4436C)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025

107

SHARE LOGIC

SHANI KUMAR KALE

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 14-AUG-2026

14-AUG-2026

108

SHIELD RESEARCH ADVISORY SERVICES

(PAN:AEDPV8992D)

GARIMA VERMA

PAN:AEDPV8992D

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

109

SHUBH STOCKS CAPITAL

(PAN:ARLPP0312L)

DIVYESH DIPAKKUMAR PATEL

PAN:ARLPP0312L

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

110

SKYRISE CAPITAL ADVISORS

(PAN:ADMFS7358C)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025

111

STAR INDIA MARKET RESEARCH

(PAN:AJZPL7369K)

DHARMENDRA KUMAR LODHI

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

112

STOCK COMMODITY FOREX

(PAN:AYPPS0486B)

SANTOSH SHARMA

PAN:AYPPS0486B

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

113

STOCKEY INVESTMENT ADVISORS

(PAN:EHVPS8595A)

VAIBHAV SHARMA

PAN:EHVPS8595A

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025

114

TACTERIAL CONSULTING PVT.LTD.

(PAN:AAGCT8653H)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

115

TAURO INVESTMENT ADVISORS PVT.LTD.

(PAN:AAFCT3930N)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025

116

TRADE INDIA RESEARCH

(PAN:BEHPG5479R)

NEHA GUPTA

PAN:BEHPG5479R

CHARGED UNREASONABLE, ARBITRARILY AND INCONSISTENT FEE

PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS

SOLD ADVISORY SERVICES/PRODUCTS TO CLIENTS WITHOUT ENSURING SUITABILITY OF ADVICE ACCORDING TO THEIR RISK PROFILE

PROVIDED INVESTMENT ADVICE WITHOUT CONSENT OF THE CLIENTS

DID NOT OBTAIN AND/OR MAINTAIN ANY DOCUMENTS FOR KNOW YOUR CLIENTS (KYC), RISK PROFILING, SUITABILITY, ACKNOWLEDGEMENT FROM CLIENTS, COMMUNICATION WITH CLIENTS/INVESTORS, CALL RECORDING OF CARRYING OUT RISK PROFILING AND RATIONALE FOR ADVISORY SERVICES ETC.

DID NOT INTIMATE SEBI ABOUT MATERIAL CHANGE IN INFORMATION

MANIPULATED AND FORCED CLIENT TO PAY MORE AND MORE FEES WITH THREAT OF FORFEITURE

PROVIDED EXECUTION SERVICES TO CLIENT

MOBILIZED MONEY FROM CLIENT IN DECEITFULLY AND CREATED FAKE PORTFOLIO

CONCEALED INFORMATION IN APPLICATION FORM FOR GRANT OF REGISTRATION CERTIFICATE

REPRESENTATIVES/EMPLOYEES DID NOT HAVE REQUISITE QUALIFICATION AND CERTIFICATION

DID NOT REDRESS INVESTOR COMPLAINTS

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 30-NOV-2023

30-NOV-2023

117

TRADEBIZZ RESEARCH

(PAN:BEKPP6860A)

SANTOSH SINGH PARIHAR

PAN:AKXPJ5392B

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

118

TRADECURE FINANCIAL RESEARCH

(PAN:AAKFT7256R)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

119

TRUENORTH LABS PVT.LTD.

(PAN:AAFCT8811L)