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SOURCE OF INFORMATION

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 : 03-JUL-2025

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: DIRECTED TO PLACE A COPY OF THE ORDER ON WEBSITE AND ALSO SEND COPY OF THE ORDER TO ALL THE CLIENTS THROUGH EMAIL

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person FINCAP RESEARCH INVESTMENT ADVISOR

(PAN:AXWPN9795L)  
Click here to view complete history of this specific entity/person SONIKA NAMDHARANI

PAN:AXWPN9795L
  		ALLOWED UNREGISTERED PERSON TO ACT AS INVESTMENT ADVISOR

OBTAINED INVESTMENT ADVISOR REGISTRATION BY SUBMITTING FAKE EXPERIENCE CERTIFICATES

ENGAGED REPRESENTATIVES TO RENDERING INVESTMENT ADVICE WITHOUT ADEQUATE QUALIFICATIONS AND/OR REGISTRATION AND INFORMATION TO SEBI

DID NOT RENEW NISM REGISTRATION

MISREPRESENTED CLIENTS THAT PRODUCTS IN FUTURES AND OPTIONS SEGMENTS GAVE REGULAR INCOME

DID NOT OBTAIN ANY SUPPORTING DOCUMENTS/EVIDENCE FROM CLIENTS WHILE DOING RISK PROFILING OF CLIENTS

SOLD HIGH FEES PRODUCT WITHOUT CONSIDERING ANNUAL INCOME AND PROPOSED INVESTMENT VALUE

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

DID NOT HAVE ANY PRODUCTS/SERVICES DESIGNED BY ITS OWN

SOLD MULTIPLE PRODUCTS AND CHARGED UNREASONABLE FEES AND/OR SERVICE CHARGE

CHARGED ADVISORY FEES BEFORE EXPIRY OF TENURE OF EXISTING SERVICE/COLLETING MULTIPLE PAYMENTS IN SHORT PERIOD

DID NOT MAINTAIN RECORDS OF COMMUNICATION WITH CLIENTS DURING RISK PROFILING AND SUITABILITY ASSESSMENT OF ADVICE/SELECTION OF ADVISORY PRODUCT/SERVICES

DID NOT PROVIDE DOCUMENTS WITH REGARD TO DATE AND SUBJECT OF TRAINING, NUMBER OF PARTICIPANTS, MATERIALS DISTRIBUTED, ATTENDANCE SHEET OF EMPLOYEES ETC.   		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 17-JUL-2023 TO 16-JUL-2025

RESTRAINED AND FURTHER PROHIBITED FROM HOLDING AND OCCUPYING ANY MANAGERIAL POST OR BEING ASSOCIATED DIRECTLY OR INDIRECTLY WITH ANY LISTED PUBLIC COMPANY AND/OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 17-JUL-2023 TO 16-JUL-2025

DIRECTED TO PLACE A COPY OF THE ORDER ON WEBSITE AND ALSO SEND COPY OF THE ORDER TO ALL THE CLIENTS THROUGH EMAIL

IMPOSED PENALTY RS.14,00,000 ALONG WITH OTHER ENTITIES/PERSONS

17-JUL-2023 		 
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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