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: VIOLATED SEBI (RESEARCH ANALYST) REGULATIONS, 2014

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

121

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

SAT: SAT VIDE ITS ORDER DATED 07/08/2026 DISMISSED THE APPEAL FOR WANT OF PROSECUTION. NO COSTS

122

PREYESH MEHTA

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FUTURE FINTRADE

INDULGED IN SENDING BULK SMS WITH BUY RECOMMENDATIONS WITH ULTIMATE GOAL OF OFFLOADING SHAREHOLDING OF PROMOTERS/DIRECTORS IN MATTER OF SUPREME TEX MART LTD.

ACTED AS INVESTMENT ADVISOR OR RESEARCH ANALYST VIOLATING SECTION 12(1) OF SEBI ACT READ WITH REGULATION 3(1) OF SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014 IN MATTER OF SUPREME TEX MART LTD.

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

123

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

124

PRIYA CLYDE ANDRADES

(PAN:AMJPS2813A)

DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST

CANCELLED REGISTRATION AS RESEARCH ANALYST

28-JUL-2026

125

PRIYANKA SHARMA

DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST

CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 20-AUG-2026

20-AUG-2026

126

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 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, 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

127

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

128

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

129

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

130

PUROOSKHAN

(PAN:BCMPP7058L)

DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST

CANCELLED REGISTRATION AS RESEARCH ANALYST FROM 20-AUG-2026

20-AUG-2026

131

RAGHAV BEHANI

(PAN:BOCPB0871B)

DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST

CANCELLED REGISTRATION AS RESEARCH ANALYST

04-AUG-2026

132

RAGHAVENDRA RAJENDRA

(PAN:AAPPR3133A)

DID NOT PAY RENEWAL FEE AS RESEARCH ANALYST