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

ADVISER STREET

(PAN:AIGPL4673A)

Click here to view complete history of this specific entity/person

JYOTI LODHWA

PAN:AIGPL4673A

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

ADVISHARE INVESTMENT ADVISERS

(PAN:ABEFA1726E)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025

AGACQUISITIONS MARKETS PVT.LTD.

(PAN:AALCA2847B)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025

AISHVA FINANCIAL SERVICES PVT.LTD.

(PAN:AATCA8237B)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

ALGO SYSTEMS

(PAN:ABAFA0198E)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

ALGOANALYTICS FINANCIAL CONSULTANCY PVT.LTD.

(PAN:AAICA8994Q)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 10-SEP-2025

10-SEP-2025

ALLIANCE RESEARCH

(PAN:AGDPH7770D)

MUDASSIR HASAN

PAN:AGDPH7770D

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

ALTAIS INVESTMENT ADVISORS

(PAN:ABBFA2450L)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 25-APR-2025

25-APR-2025

AM WEALTH MANAGERS PVT.LTD.

(PAN:AAHCA5565E)

(Along with : WALLET INVESTMENT ADVISORS)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025

ARTHA YANTRA CORP.PVT.LTD.

(PAN:AAGCA2583H)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025

ASPIRE WEALTH & INVESTMENT ADVISERS PVT.LTD.

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 14-AUG-2026

14-AUG-2026

AVENUE VENTURE PARTNERS INVESTMENT ADVISER LLP

(PAN:AAVFA9131D)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

27-NOV-2025

AVID RESEARCH INVESTMENT ADVISER

(PAN:AZXPD5745P)

AMIT KUMAR DEWDA

PAN:AZXPD5745P

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-AUG-2026

21-AUG-2026

BHARGAVA FINANCIAL PLANNERS

(PAN:AOWPB9949R)

AYUSH BHARGAVA

PAN:AOWPB9949R

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

BIS CAPITAL INVESTMENT ADVISOR

(PAN:BFLPP9443M)

HARIOM SHARAN PATEL

PAN:BFLPP9443M

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 30-JUN-2023

30-JUN-2023

BULL RESEARCH INVESTMENT ADVISORS PVT.LTD.

(PAN:AAHCB1200H)

SANDEEP KUSHWAHA

PAN:DPBPK9313F
DIN:08176753

VINIT SATPUTE

DIN:07737200
PAN:EBMPS2703F

PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS

SOLD ADVISORY SERVICES/PACKAGES TO SAME CLIENTS ON MULTIPLE OCCASION AT DIFFERENT ARBITRARY PRICE FOR FUTURE/OVERLAPPING PERIOD WHILE EXISTING SUBSCRIPTION WAS ACTIVE

RECEIVED PAYMENT FROM FAMILY MEMBERS OF PRIMARY CLIENTS TO HIDE EXORBITANT FEES TAKEN FROM PRIMARY CLIENT

RECEIVED PAYMENT BEFORE DOING KNOW YOUR CLIENTS (KYC) AND RISK PROFILING OF CLIENTS

RAISED INVOICES IN THE NAME OF CLIENTS WHO DID NOT HAVE DEMAT/TRADING ACCOUNT

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

DID NOT POSSESS NISM CERTIFICATE

DID NOT ADHERE TO REQUIREMENT OF CAPITAL ADEQUACY

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

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 15-SEP-2023

DIRECTED TO RESOLVE ALL PENDING COMPLAINTS

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO ACCEPT REFUND CLAIMS/REQUESTS FROM THE PUBLIC

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

DIRECTED TO FILE A REPORT OF RESOLUTION OF COMPLAINTS

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

DIRECTED NOT TO UNDERTAKE EITHER DIRECTLY OR INDIRECTLY INVESTMENT ADVISORY SERVICES AND/OR RESEARCH ANALYST ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI FROM 15-SEP-2023

15-SEP-2023

SAT: SAT VIDE ITS ORDER DATED 09/07/2024 CONDONED THE DELAY IN FILING OF APPEAL. GRANTED RESPONDENT FOUR WEEKS TIME TO FILE REPLY AND REJOINDER MAY BE FILED WITHIN FOUR WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 17/09/2024 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED FOUR WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 07/01/2025 GRANTED APPELLANT TWO WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 13/02/2025 APPELLANT SOUGHT TWO WEEKS TO FILE REJOINDER

BULLMART RESEARCH

(PAN:AOAPT8664H)

DESHRAJ SINGH THAKUR

PAN:AOAPT8664H

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR

07-AUG-2026

CANDYFLOSS INVESTMENT ADVISORS

(PAN:AIYPP4220B)

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER

CANCELLED REGISTRATION AS INVESTMENT ADVISOR FROM 21-JUL-2026

21-JUL-2026

CAPITAL BOOSTERS

(PAN:BTSPM0627F)

ANKUR MISHRA

PAN:BTSPM0627F

DID NOT PAY RENEWAL FEES AS AN INVESTMENT ADVISER