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.

UN-AUTHORISED PORTFOLIO MANAGERS: DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

MMF SOLUTIONS

(PAN:BBDPP5436J)

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PRIYANSH PATODI

PAN:BBDPP5436J

INDULGED IN ACTIVITY OF PORTFOLIO MANAGER WITHOUT SEBI REGISTRATION

ACTED AS RESEARCH ANALYST WITHOUT SEBI REGISTRATION

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO CEASE & DESIST FROM ACTING AS PORTFOLIO MANAGER AND NOT TO SOLICIT OR UNDERTAKE SUCH ACTIVITIES OR ANY OTHER ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER

DIRECTED TO CEASE & DESIST FROM ACTING AS AN INVESTMENT ADVISOR AND/OR RESEARCH ANALYST AND CEASE TO SOLICIT OR UNDERTAKE SUCH ACTIVITIES OR ANY OTHER UNREGISTERED ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER FROM 15-FEB-2018 TO 14-FEB-2022

DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO PORTFOLIO MANAGEMENT ACTIVITIES IN SECURITIES MARKET

DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO THOSE SCHEMES / ACTIVITIES (INVESTMENT ADVISER AND ALTERNATIVE INVESTMENT FUND, AND/OR RESEARCH ANALYST) OR ANY UNREGISTERED ACTIVITIES FROM 15-FEB-2018 TO 14-FEB-2022

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM ITS EXISTING CLIENTS / INVESTORS

DIRECTED TO FILE CERTIFICATE OF COMPLETION OF PROCESS WITH SEBI FROM TWO INDEPENDENT PEER REVIEWED CHARTERED ACCOUNTANTS

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

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 15-FEB-2018 TO 14-FEB-2022

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 15-FEB-2018 TO 14-FEB-2022

05-JAN-2016

SEBI VIDE ITS ORDER DATED 15/02/2018 1) DIRECTED TO REFUND RS.64,26,952 AND ANY OTHER AMOUNT RECEIVED FROM THE CLIENTS IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY SERVICES, UNREGISTERED RESEARCH ANALYST SERVICES AND UNREGISTERD PORTFOLIO MANAGEMENT SERVICES AND SUBMIT A CERTIFICATE FROM A PEER REVIEWED CHARTERED ACCOUNTANT WHO IS IN THE PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION, WITHIN A PERIOD OF THREE MONTHS 2) REPAYMENTS TO THE CLIENTS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER 3) NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS, KEPT IN BANK ACCOUNTS AND/OR IN THEIR CUSTODY, EXCEPT FOR THE PURPOSE OF REFUNDS TO THE CLIENTS 4) PREVENTED FROM SELLING THEIR ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES/ HELD BY THEM IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED AND DEPOSIT THE PROCEEDS IN AN ESCROW ACCOUNT OPENED WITH A NATIONALISED BANK 5) NOT TO DIRECTLY OR INDIRECTLY, ACCESS SECURITIES MARKET AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN WHATSOEVER MANNER FOR A PERIOD OF FOUR YEARS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS 6) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, UNREGISTERED INVESTMENT ADVISORY ACTIVITIES, UNREGISTERED RESEARCH ANALYST SERVICES AND UNREGISTERD PORTFOLIO MANAGER SERVICES OR ANY ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING A CERTIFICATE OF REGISTRATION FROM SEBI AFTER THE EXPIRY OF PERIOD OF DEBARMENT

SAT: SAT VIDE ITS ORDER DATED 24/04/2018 PERMITTED APPELLANT TO MAKE A REPRESENTATION TO SEBI WITHIN THREE WEEKS FROM THE DATE OF THIS ORDER SETTING OUT IN DETAIL AMOUNT ALREADY PAID TO THE CLIENTS AND MODE AND MANNER IN WHICH APPELLANT WOULD REFUND THE BALANCE AMOUNT. NO COSTS

P.SRINIVASA THANGA DURAI

(PAN:ACLFS5789F)

P.SOUNDRAVALLI

PAN:FLJPS3301B

P.SRINIVASA THANGA DURAI

PAN:BBDPS1849E

INDULGED IN ACTIVITY OF PORTFOLIO MANAGER WITHOUT SEBI REGISTRATION

DIRECTED TO CEASE & DESIST FROM ACTING AS PORTFOLIO MANAGER AND NOT TO SOLICIT OR UNDERTAKE SUCH ACTIVITIES OR ANY OTHER ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER

DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO PORTFOLIO MANAGEMENT ACTIVITIES IN SECURITIES MARKET

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

DIRECTED TO REFUND ALL THE MONIES TO INVESTORS ALONG WITH INCOME, PROFITS OR RETURNS PROMISED UNDER THE SCHEMES

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

DIRECTED TO FILE CERTIFICATE OF COMPLETION OF PROCESS WITH SEBI FROM TWO INDEPENDENT PEER REVIEWED CHARTERED ACCOUNTANTS

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM PUBLIC AT LARGE KEPT IN BANK ACCOUNT AND/OR IN THE CUSTODY OF THE COMPANY FROM 09-JAN-2018 TO 08-JAN-2022

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS OWNED BY COMPANY

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 09-JAN-2018 TO 08-JAN-2022

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 09-JAN-2018 TO 08-JAN-2022

18-JUL-2016

SEBI VIDE ITS ORDER DATED 09/01/2018 1) DIRECTED TO REFUND THE MONEY RECEIVED FROM THE CLIENTS IN RESPECT OF UNREGISTERED PORTFOLIO MANAGEMENT SERVICES ACTIVITIES, ALONGWITH THE PROMISED RETURNS AND SUBMIT A CERTIFIED FROM A PEER REVIEWED CHARTERED ACCOUNTANT WHO IS IN THE PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION, WITHIN A PERIOD OF THREE MONTHS 2) REPAYMENTS TO THE CLIENTS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER 3) NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS, KEPT IN BANK ACCOUNTS AND/OR IN THEIR CUSTODY, EXCEPT FOR THE PURPOSE OF REFUNDS TO THE CLIENTS 4) DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS & PROPERTIES AND DETAILS OF ALL BANK ACCOUNTS, DEMAT ACCOUNTS AND HOLDINGS OF MUTUAL FUNDS/SHARES/SECURITIES, IF HELD IN PHYSICAL AND DEMAT FORM 5) PREVENTED FROM SELLING THEIR PERSONAL AND/OR PARTNERSHIP FIRM�S ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES/ HELD BY THEM IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED AND DEPOSIT THE PROCEEDS IN AN ESCROW ACCOUNT OPENED WITH A NATIONALISED BANK 6) NOT TO DIRECTLY OR INDIRECTLY, ACCESS SECURITIES MARKET AND ARE PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN WHATSOEVER MANNER FOR A PERIOD OF FOUR YEARS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS 7) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, PORTFOLIO MANAGEMENT SERVICES OR ANY ACTIVITY IN SECURITIES MARKET WITHOUT OBTAINING A CERTIFICATE OF REGISTRATION FROM SEBI AFTER THE EXPIRY OF PERIOD OF DEBARMENT

SEBI VIDE ITS NOTICE DATED 30/08/2019 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS 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

VPS ADVISORY SERVICES

(PAN:BGEPS3887G)

VARUN PRATAP SINGH CHAUHAN

PAN:BGEPS3887G

INDULGED IN ACTIVITY OF PORTFOLIO MANAGER WITHOUT SEBI REGISTRATION

DIRECTED TO CEASE & DESIST FROM ACTING AS PORTFOLIO MANAGER AND NOT TO SOLICIT OR UNDERTAKE SUCH ACTIVITIES OR ANY OTHER ACTIVITY IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY, IN ANY MANNER WHATSOEVER

DIRECTED TO IMMEDIATELY WITHDRAW AND REMOVE ALL ADVERTISEMENTS, REPRESENTATIONS, LITERATURES, BROCHURES, MATERIALS, PUBLICATIONS, DOCUMENTS, WEBSITE, ETC. IN RELATION TO PORTFOLIO MANAGEMENT ACTIVITIES IN SECURITIES MARKET

DIRECTED NOT TO DIVERT ANY FUNDS RAISED FROM INVESTORS

DIRECTED TO FILE CERTIFICATE OF COMPLETION OF PROCESS WITH SEBI FROM TWO INDEPENDENT PEER REVIEWED CHARTERED ACCOUNTANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 22-AUG-2017 TO 21-AUG-2021

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 22-AUG-2017 TO 21-AUG-2021

17-JUN-2015