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.

PERSONS: NOT A FIT AND PROPER PERSON

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

A.K.THAKUR

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SAHARA ASSET MANAGEMENT CO.PVT.LTD.

PAN:AAACF1696A

NOT A FIT & PROPER PERSON TO CARRY OUT BUSINESS OF MUTUAL FUND

DIRECTED NOT TO TAKE NEW SUBSCRIPTION FROM INVESTORS (INCLUDING EXISTING INVESTOR IN SYSTEMATIC INVESTMENT PLANS (SIP) / SYSTEMATIC TRANSFER PLANS (STP) AND NOT TO CHARGE ANY PENALTIES / LOADS FOR NOT DEPOSITING INSTALLMENTS

28-JUL-2015

D.P.SHASTRI

SAHARA ASSET MANAGEMENT CO.PVT.LTD.

PAN:AAACF1696A

NOT A FIT & PROPER PERSON TO CARRY OUT BUSINESS OF MUTUAL FUND

SAT: APPEAL DISMISSED. NO COSTS

MANISH GOEL (AKA.MANISH KUMAR GOYAL)

(PAN:AHWPG4252B)

MULTIBAGGER SECURITIES RESEARCH & ADVISORY PVT.LTD.

PAN:AAKCM8779K

NOT A FIT & PROPER PERSON TO GRANT REGISTRATION AS PORTFOLIO MANAGER

REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER

DIRECTED NOT TO APPLY FOR FRESH REGISTRATION AS PORTFOLIO MANAGER

18-NOV-2022

SAT: SAT VIDE ITS ORDER DATED 24/01/2025 DISMISSED THE APPEAL. NO COSTS

MANISH KUMARR GOYAL (AKA.MANISH GOEL)

(PAN:AHWPG4252B)

MULTIBAGGER SECURITIES RESEARCH & ADVISORY PVT.LTD.

PAN:AAKCM8779K

NOT A FIT & PROPER PERSON TO GRANT REGISTRATION AS PORTFOLIO MANAGER

REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER

DIRECTED NOT TO APPLY FOR FRESH REGISTRATION AS PORTFOLIO MANAGER

18-NOV-2022

SAT: SAT VIDE ITS ORDER DATED 24/01/2025 DISMISSED THE APPEAL. NO COSTS

P.V.RAO

SAHARA ASSET MANAGEMENT CO.PVT.LTD.

PAN:AAACF1696A

NOT A FIT & PROPER PERSON TO CARRY OUT BUSINESS OF MUTUAL FUND

PAWAN BANSAL

(PAN:ACFPB2226A)

ALTIUS FINSERV PVT.LTD.

PAN:AAACU3953D

DID NOT ADHERE TO ELIGIBILITY CRITERIA OF BEING �FIT AND PROPER PERSON� IN ACCORDANCE WITH MERCHANT BANKERS REGULATIONS READ WITH INTERMEDIARIES REGULATIONS

RESTRAINED FROM ASSOCIATING EITHER DIRECTLY OR INDIRECTLY, WITH ANY INTERMEDIARY OR HOLDING ANY CONTROLLING SHAREHOLDING IN ANY INTERMEDIARY TILL SUCH TIME FREED BY COMPETENT COURT OF THE CHARGES ALLEGED IN FIR

17-MAR-2016

SAT: SAT VIDE ITS ORDER DATED 09/05/2016 GIVEN LIBERTY TO APPELLANTS TO MAKE A REPRESENTATION TO SEBI WITHIN ONE WEEK FROM THE DATE OF THIS ORDER AND IF SUCH A REPRESENTATION IS MADE WITHIN ONE WEEK FROM DATE OF THIS ORDER, DIRECTED SEBI TO CONSIDER THE REPRESENTATION AND AFTER HEARING APPELLANTS PASS AN ORDER IN ACCORDANCE WITH LAW WITHIN A PERIOD OF TWO WEEKS THEREAFTER. NO COSTS

S.R.HEGDE

SAHARA ASSET MANAGEMENT CO.PVT.LTD.

PAN:AAACF1696A

NOT A FIT & PROPER PERSON TO CARRY OUT BUSINESS OF MUTUAL FUND

SAT: APPEAL DISMISSED. NO COSTS

SHAILESH GOYAL

(PAN:ALHPG8755E)

MULTIBAGGER SECURITIES RESEARCH & ADVISORY PVT.LTD.

PAN:AAKCM8779K

NOT A FIT & PROPER PERSON TO GRANT REGISTRATION AS PORTFOLIO MANAGER

REJECTED APPLICATION FOR REGISTRATION AS PORTFOLIO MANAGER

DIRECTED NOT TO APPLY FOR FRESH REGISTRATION AS PORTFOLIO MANAGER

18-NOV-2022

SAT: SAT VIDE ITS ORDER DATED 24/01/2025 DISMISSED THE APPEAL. NO COSTS

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