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 : 04-NOV-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: ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

S.No.

PERSON

ENTITY

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

201

PANKAJ KHANCHANDANI

(PAN:AXTPK1590M)

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

WISHWORTH FINANCIAL SERVICES

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 09-SEP-2022

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 09-SEP-2022

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 09-SEP-2022

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 09-SEP-2022

09-SEP-2022

SEBI VIDE ITS NOTICE DATED 06/06/2024 DIRECTED TO PAY RS.11,01,68,975.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

202

PANKAJ KUMAR SHUKLA

(PAN:FNRPS5641L)

MARKET ANAND

PAN:FNRPS5641L

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 10-NOV-2022 TO 09-MAY-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 10-NOV-2022 TO 09-MAY-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 10-NOV-2022 TO 09-MAY-2023

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 10-NOV-2022 TO 09-MAY-2023

10-NOV-2022

SEBI VIDE ITS NOTICE DATED 11/09/2025 DIRECTED TO PAY RS.74,78,704 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 13/11/2025 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

SEBI VIDE ITS NOTICE DATED 19/12/2025 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.76,44,875.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG

203

PARTH KANUBHAI PATEL

(PAN:CGZPP5636C)

4W WEALTH MANAGEMENT PVT.LTD.

PAN:AAACZ6378D
CIN:U67120GJ2013PTC073241

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 26-JUN-2024 TO 25-JUN-2026

DIRECTED TO SELL THEIR SHARES OF VAS INFRASTRUCTURE LTD. ACQUIRED IN VIOLATION OF REGULATION 11(1) OF SAST REGULATIONS, 1997, IN EXCESS OF 5% AND DEPOSIT THE PROCEEDS IN INVESTOR PROTECTION & EDUCATION FUND (IPEF) OF SEBI WITHIN THREE MONTHS FROM THE DATE OF THIS ORDER

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 26-JUN-2024 TO 25-JUN-2026

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 26-JUN-2024 TO 25-JUN-2026

RESTRAINED FROM HOLDING ANY POSITION OF DIRECTOR OR KEY MANAGERIAL PERSONNEL IN ANY LISTED COMPANY OR ANY INTERMEDIARY REGISTERED WITH SEBI AND FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY OR PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI FROM 26-JUN-2024 TO 25-JUN-2026

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 26-JUN-2024 TO 25-JUN-2026

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

15-SEP-2023

SAT: SAT VIDE ITS ORDER DATED 28/02/2024 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND REJOINDER TO BE FILED THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 03/05/2024 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDER DATED 15/09/2023 EXCEPT DIRECTION CONTAINS IN PARAGRAPH NO.37. CGM OF SEBI TO HEAR THE APPELLANT AFRESH AND DISPOSE OF THE APPEAL WITHIN THREE MONTHS FROM DATE OF FIRST APPEARANCE

SEBI VIDE ITS ORDER DATED 26/06/2024 DIRECTED TO A) REFUND ADVISORY FEE RECEIVED FROM CLIENTS OF THE COMPANY B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING THE MODALITIES FOR REFUND C) ACCEPT REFUND CLAIMS/ REQUESTS FOR A PERIOD OF THREE MONTHS FROM DATE OF PUBLIC NOTICED) UPON EXPIRY OF FOUR MONTHS FROM DATE OF PUBLIC NOTICE, ANY BALANCE OF SUCH ADVISORY FEE THAT REMAINS WITH NOTICEES, DUE TO THEIR INABILITY TO CONTACT CLIENT OR OTHERWISE, TO BE DEPOSITED IN A DEDICATED ESCROW ACCOUNT, TO BE OPENED AND MAINTAINED BY NOTICEES FOR ONE YEAR AND UTILIZED ONLY FOR PURPOSE OF REFUND TO CLIENTS E) REPAYMENTS TO CLIENTS SHALL BE EFFECTED ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONIC FUND TRANSFER F) PROHIBITED FROM SELLING ASSETS, PROPERTIES INCLUDING MUTUAL FUNDS/ SHARES/ SECURITIES IN DEMAT AND PHYSICAL FORM EXCEPT FOR PURPOSE OF EFFECTING REFUNDS. FURTHER, BANKS ARE DIRECTED TO ALLOW DEBIT FROM BANK ACCOUNTS OF NOTICEES ONLY FOR PURPOSE OF MAKING REFUNDS TO CLIENTS G) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED BY INDEPENDENT REVIEWED CHARTERED ACCOUNTANTS H) RESTRAINED FROM ACCESSING SECURITIES MARKET DIRECTLY OR INDIRECTLY AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR TWO YEARS FROM DATE OF THIS ORDER OR TILL DATE OF FILING OF REPORT I) RESTRAINED FROM ASSOCIATING AS A DIRECTOR OR KEY MANAGERIAL PERSONNEL WITH ANY LISTED PUBLIC COMPANY OR ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI, FOR TWO YEARS FROM DATE OF THIS ORDER J) NOT TO UNDERTAKE, EITHER DURING OR AFTER EXPIRY OF PERIOD OF RESTRAINT AND PROHIBITION, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI AS REQUIRED UNDER SECURITIES LAWS

204

PARUL SAHU

(PAN:CTSPS2698F)

PINNACLE MARKET INVESTMENT ADVISORY PVT.LTD.

PAN:AAICP3799C

DELAY IN FURNISHING DETAILS OF APPOINTMENT OF NEW DIRECTOR

MISREPRESENTED RISK PROFILE OF CLIENTS

DID NOT FAIR AND TRANSPARENT IN DEALING WITH CLIENTS REGARDING FEE CHARGED

PROMISED ASSURED/GUARANTEE RETURNS/PROFITS TO CLIENTS

DID NOT ADHERE TO SEBI DIRECTIONS WITH RESPECT TO INSPECTION OF BOOKS OF ACCOUNTS/RECORDS AND OTHER DOCUMENT PERTAINING TO REGISTRATION

EXECUTED UNAUTHORISED TRANSACTIONS IN CLIENTS� ACCOUNTS

DID NOT REDRESS INVESTOR COMPLAINTS

DIRECTED TO RESOLVE ALL PENDING COMPLAINTS

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 25-JAN-2023 TO 24-JAN-2026

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

PROHIBITED FROM ISSUING PROSPECTUS OR ANY OFFER DOCUMENT, OR ISSUE ADVERTISEMENT FOR SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 25-JAN-2023 TO 24-JAN-2026

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 25-JAN-2023 TO 24-JAN-2026

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 25-JAN-2023 TO 24-JAN-2026

IMPOSED PENALTY RS.1,00,000

25-JAN-2023

SAT: SAT VIDE ITS ORDER DATED 12/04/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED THREE WEEKS THEREAFTER

SAT: SAT VIDE ITS ORDER DATED 13/06/2023 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT VIDE ITS ORDER DATED 06/09/2023 PARTLY ALLOWED THE APPEAL BY REDUCING PENALTY AMOUNT TO RS.2 LAC FROM RS.5 LAC

SEBI VIDE ITS NOTICE DATED 19/02/2025 DIRECTED TO PAY RS.1,27,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 13/03/2025 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

SEBI VIDE ITS NOTICE DATED 07/07/2025 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.1,32,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG

SEBI VIDE ITS NOTICE DATED 14/08/2025 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 13/03/2025

SEBI VIDE ITS ORDER DATED 14/08/2025 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.8639 OF 2025 DATED 19/02/2025

205

PAWAN BHISE

(PAN:CUUPB8830M)

GLOBAL RESEARCH

PAN:CUUPB8830M

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 19-OCT-2022 TO 18-OCT-2024

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 19-OCT-2022 TO 18-OCT-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 19-OCT-2022 TO 18-OCT-2024

RESTRAINED FROM ASSOCIATED WITH ANY LISTED COMPANY AND ANY PUBLIC COMPANY AS DIRECTORS/PROMOTERS WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC AND/OR ANY INTERMEDIARY WITH SEBI FROM 19-OCT-2022 TO 18-OCT-2024

19-OCT-2022

SEBI VIDE ITS NOTICE DATED 10/04/2024 DIRECTED TO PAY RS.51,18,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

206

PIYUSH SWETANG SHAMBHARKAR

(PAN:BOIPS7751H)

PROFIT SHARING,THE

PAN:BOIPS7751H

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 01-SEP-2022 TO 28-FEB-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 01-SEP-2022 TO 28-FEB-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 01-SEP-2022 TO 28-FEB-2023

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 01-SEP-2022 TO 28-FEB-2023

01-SEP-2022

207

POONAM JAIN

(PAN:AFMPT0902K)

PROFIT IDEAS ADVISORY SERVICES

PAN:AFMPT0902K

INDULGED IN ACTIVITY OF PORTFOLIO MANAGER WITHOUT SEBI REGISTRATION

SAT: SAT VIDE ITS ORDER DATED 24/09/2024 DIRECTED A) CONDONED DELAY IN FILING OF APPEAL B) APPELLANTS AT LIBERTY TO LIQUIDAT THE SHARES IN FROZEN DEMAT ACCOUNT. C) APPELLANT TO DEPOSIT RS.7.31 CRORE IN ESCROW ACCOUNT AND FOLLOW ALL THE DIRECTIONS CONTAINED IN PARAGRAPH 52 OF IMPUGNED ORDER DATED 31/08/2023 D) APPELLANTS AT LIBERTY TO FILE A REPRESENTATION WITH SEBI WITH REGARD TO AMOUNT TO BE REFUNDED TO INVESTORS WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND SEBI TO CONSIDER THE SAME IN ACCORDANCE WITH LAW WITHIN FOUR WEEKS FROM THE DATE OF RECEIPT OF REPRESENTATION

208

PRABHA PATEL

(PAN:DNAPP1607Q)

TRADE SOLUTION

PAN:DNAPP1607Q

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 09-JAN-2023 TO 08-JUL-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 09-JAN-2023 TO 08-JUL-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 09-JAN-2023 TO 08-JUL-2023

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 09-JAN-2023 TO 08-JUL-2023

09-JAN-2023

SEBI VIDE ITS ORDER DATED 05/08/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

209

PRADEEP HALDAR

(PAN:AJBPH9234P)

PNP SHAREON SOLUTIONS

PAN:AJBPH9234P

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 03-JAN-2023 TO 02-JUL-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 03-JAN-2023 TO 02-JUL-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 03-JAN-2023 TO 02-JUL-2023

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 03-JAN-2023 TO 02-JUL-2023

03-JAN-2023

SEBI VIDE ITS NOTICE DATED 25/04/2024 DIRECTED TO PAY RS.70,17,774.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

210

PRAJESH ASHVINBHAI SHUKLA

(PAN:FPUPS7459F)

(Along with : YAYAATI HASMUKHRAY NADA,

REETABEN ASHVINKUMAR SHUKLA,

SHAILESH SOMABHAI PATEL,

JALAJ AGRAWAL,

ARVIND SHUKLA)

INDULGED IN DEALING IN SECURITIES WHILE IN POSSESSION OF MATERIAL OR NON-PUBLIC INFORMATION OR COMMUNICATE SUCH MATERIAL OR NON-PUBLIC INFORMATION TO ANY OTHER PERSON VIOLATING SECTIONS 12A(A) TO 12A(C) AND 12A(E) OF SEBI ACT. 1992 AND REGULATIONS 3(A) TO 3(D), 4(1), 4(2)(D) AND 4(2)(E) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF UNISON METALS LTD.

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 31-JUL-2024 UNTIL FURTHER ORDERS

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DIRECTED DEPOSITORIES THAT NO DEBIT TO BE MADE WITHOUT PERMISSION OF SEBI

DIRECTED BANKS AND/OR DEPOSITORIES AND/OR CUSTODIANS TO ENSURE STRICT ENFORCEMENT OF DIRECTIONS

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF COMPLYING WITH THIS ORDER

DIRECTED REGISTRAR AND TRANSFER AGENTS TO ENSURE THAT SECURITIES (INCLUDING MF UNITS) IN PHYSICAL FORM NOT TO TRANSFER /REDEEM WITHOUT CONFIRMATION OF CONCERNED STOCK EXCHANGES

DIRECTED NOT TO DISPOSE OF OR ALIENATE ANY OF THEIR ASSETS / PROPERTIES / SECURITIES, TILL SUCH TIME UNLAWFUL GAINS ARE CREDITED TO ESCROW ACCOUNT

DIRECTED TO IMPOUND UNLAWFUL GAIN RS.18,73,075 ALONG WITH OTHER ENTITIES/PERSONS

DIRECTED TO CREDIT/DEPOSIT WRONGFUL GAINS INTO INTEREST BEARING ESCROW ACCOUNTS OR SAVING ACCOUNTS WITHIN FIFTEEN DAYS FROM DATE OF ORDER AND AMOUNT NOT TO BE RELEASED WITHOUT PERMISSION FROM SEBI

31-JUL-2024

SAT: SAT VIDE ITS ORDER DATED 17/10/2024 PERMITTED A) APPELLANTS TO SELL THE SHARES AND MAKE PAYMENTS AS CALLED UPON BY SEBI IN TABLE 25 (PARAGRAPH 60) OF IMPUGNED ORDER BY DEPOSITING AMOUNT IN AN INTEREST BEARING ESCROW ACCOUNT IN ANY NATIONALIZED BANK WITHIN LIEN MARK IN FAVOUR OF SEBI B) APPELLANTS SHALL BE FREE TO TRADE IN ANY SCRIP OTHER THAN UNISON METALS LTD. C) APPELLANT TO MAKE DEPOSIT IN OUTER LIMIT OF FOUR WEEKS D) SEBI TO DEFREEZE THE ACCOUNTS IMMEDIATELY E) APPELLANTS TO FILE REPLY TO THE SHOW CAUSE NOTICE WITHIN OUTER LIMIT OF FOUR WEEKS FROM DATE OF THIS ORDER. NO COSTS

211

PRAKASH HALDAR

(PAN:DKNPP0005G)

PNP SOLUTIONS

PAN:DKNPP0005G

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 03-JAN-2023 TO 02-JUL-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 03-JAN-2023 TO 02-JUL-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 03-JAN-2023 TO 02-JUL-2023

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 03-JAN-2023 TO 02-JUL-2023

03-JAN-2023

SEBI VIDE ITS NOTICE DATED 25/04/2024 DIRECTED TO PAY RS.70,17,774.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

212

PRAKASH SHYAMLAL RATHOD

(PAN:CTLPP8213L)

AGRICH TRADERS

PAN:CTLPP8213L

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

SEBI VIDE ITS ORDER DATED 23/01/2023 DIRECTED TO A) REFUND THE MONEY RECEIVED FROM CLIENTS/INVESTORS/COMPLAINANT AS FEES OR CONSIDERATION OR IN ANY OTHER FORM IN RESPECT OF UNREGISTERED INVESTMENT ADVISORY ACTIVITIES B) ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES (ONE ENGLISH AND ONE HINDI) AND IN ONE LOCAL DAILY WITH WIDE CIRCULATION, DETAILING MODALITIES FOR REFUND INCLUDING DETAILS OF CONTACT PERSON NAMES, ADDRESSES AND CONTACT DETAILS C) REPAY TO CLIENTS/INVESTORS ONLY THROUGH BANK DEMAND DRAFT OR PAY ORDER OR ELECTRONICS FUND TRANSFER D) FILE REPORT OF SUCH COMPLETION WITH SEBI DULY CERTIFIED FROM INDEPENDENT CHARTERED ACCOUNTANT E) REMAINING BALANCE AMOUNT DEPOSITED WITH SEBI TO BE KEPT IN AN ESCROW ACCOUNT FOR ONE YEAR FOR DISTRIBUTION TO CLIENTS/INVESTORS F) RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM EXCEPT FOR THE SOLE PURPOSE OF MAKING THE REFUNDS AS DIRECTED. FURTHER, DIRECTED BANK TO ALLOW DEBIT ONLY FOR THE PURPOSE OF MAKING REFUNDS TO THE CLIENTS/INVESTORS, WHO WERE AVAILING THE INVESTMENT ADVISORY SERVICES G) RESOLVE ALL THE COMPLAINTS PENDING AGAINST THEM AND FILE REPORT OF SUCH RESOLUTION WITH SEBI WITHIN 30 DAYS FROM DATE OF THIS ORDER H) DEBARRED FROM ACCESSING SECURITIES MARKET DIRECTLY AND INDIRECTLY AND PROHIBITED FROM BUYING, SELLING OR OTHERWISE DEALING IN SECURITIES MARKET, DIRECTLY OR INDIRECTLY IN ANY MANNER WHATSOEVER FOR SIX MONTHS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS/CLIENTS I) RESTRAINED FROM ASSOCIATING WITH ANY COMPANY WHOSE SECURITIES ARE LISTED ON A RECOGNIZED STOCK EXCHANGE AND ANY COMPANY WHICH INTENDS TO RAISE MONEY FROM THE PUBLIC OR ANY INTERMEDIARY REGISTERED WITH SEBI IN ANY CAPACITY FOR SIX MONTHS FROM DATE OF THIS ORDER OR TILL EXPIRY OF SIX MONTHS FROM DATE OF COMPLETION OF REFUNDS TO INVESTORS J) NOT TO UNDERTAKE, EITHER DIRECTLY OR INDIRECTLY, INVESTMENT ADVISORY SERVICES OR ANY ACTIVITY IN THE SECURITIES MARKET WITHOUT OBTAINING CERTIFICATE OF REGISTRATION FROM SEBI K) NOT TO DIVERT ANY FUNDS COLLECTED FROM INVESTORS, KEPT IN BANK ACCOUNT(S) AND/OR IN THEIR CUSTODY EXCEPT FOR THE PURPOSE OF REFUND L) NOT TO DISPOSE OF OR ALIENATE ANY ASSETS, WHETHER MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE ON ANY OF SUCH ASSETS HELD THEIR NAME, INCLUDING MONEY LYING IN BANK ACCOUNTS EXCEPT FOR PURPOSE OF REFUND

SEBI VIDE ITS NOTICE DATED 19/01/2024 DIRECTED TO PAY RS.1,42,71,101.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

213

PRAMOD KUMAR TRIPATHI

(PAN:BAMPT6991E)

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 13-OCT-2022

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 13-OCT-2022

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 13-OCT-2022

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 13-OCT-2022

13-OCT-2022

214

PRANAY KUMAR

(PAN:BTFPK4872B)

CAPITAL GYAN

PAN:BTFPK4872B

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 10-MAR-2023 TO 09-SEP-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 10-MAR-2023 TO 09-SEP-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 10-MAR-2023 TO 09-SEP-2023

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 10-MAR-2023 TO 09-SEP-2023

10-MAR-2023

SEBI VIDE ITS NOTICE DATED 16/07/2025 DIRECTED TO PAY RS.2,27,46,098.11 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 01/08/2025 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

SEBI VIDE ITS NOTICE DATED 09/09/2025 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.2,30,98,735.29 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG

215

PRATEEK VYAS

(PAN:AKIPV4554A)

BIG LIFE CAPITAL SOLUTIONS

PAN:AKIPV4554A

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 02-MAY-2023 TO 01-NOV-2023

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 02-MAY-2023 TO 01-NOV-2023

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 02-MAY-2023 TO 01-NOV-2023

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 02-MAY-2023 TO 01-NOV-2023

02-MAY-2023

SAT: SAT VIDE ITS ORDER DATED 25/07/2023 DISMISSED THE APPEAL. NO COSTS

SEBI VIDE ITS ORDER DATED 10/07/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

SEBI VIDE ITS NOTICE DATED 07/01/2026 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 10/07/2024

SEBI VIDE ITS ORDER DATED 07/01/2026 COMPLETED OF RECOVERY CERTIFICATE PAYMENT OF AMOUNT DUE UNDER CERTIFICATE NO.7673 OF 2024 DATED 20/02/2024

216

PREETAM SINGH RAJPUT

(PAN:AQKPR3991H)

ZENITH RESEARCH SERVICES

PAN:AABFZ3937C

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 16-OCT-2023 TO 15-OCT-2024

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 16-OCT-2023 TO 15-OCT-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 16-OCT-2023 TO 15-OCT-2024

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 16-OCT-2023 TO 15-OCT-2024

IMPOSED PENALTY RS.1,00,000 ALONG WITH OTHER ENTITIES/PERSONS

16-OCT-2023

217

PREETI V.SARDA

(PAN:BENPS9416J)

INDULGED IN FRONT RUNNING ACTIVITIES VIOLATING SECTIONS 12A(A) TO 12A(C) AND 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1) AND 4(2)(Q) READ WITH 2(1)(C) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF PARSHVANATH FINVEST PVT.LTD., THAR SHARE BROKERS PVT.LTD. AND GANGWAL COMMODITIES PVT.LTD.

DIRECTED TO DISGORGE RS.1,27,59,353 ALONG WITH OTHER ENTITIES/PERSONS

DIRECTED TO REMIT DISGORGED AMOUNT TO INVESTOR PROTECTION & EDUCATION FUND (IPEF)

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 28-NOV-2024 TO 27-NOV-2026

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

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 28-NOV-2024 TO 27-NOV-2026

28-NOV-2024

SAT: SAT VIDE ITS ORDER DATED 28/03/2025 CONDONED THE DELAY OF 52 DAYS IN FILING OF APPEAL. GRANTED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER

SEBI VIDE ITS NOTICE DATED 21/04/2025 DIRECTED TO PAY RS.1,35,25,914.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

SEBI VIDE ITS ORDER DATED 23/05/2025 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS 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

SEBI VIDE ITS NOTICE DATED 24/06/2025 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.1,37,81,101.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEES TO SEBI BY WAY OF EFT/NEFT/RTG

SAT: SAT VIDE ITS ORDER DATED 04/03/2026 DISMISSED THE APPEAL. NO COSTS

218

PRITHI PAUL SINGH SETHI

(DIN:00076689
PAN:AOAPS8866A)

MILANI TECHNO ENGINEERING LTD.

CIN:U51109UP1984PLC006714

MOBILIZED RS.4.12 CRORE FROM PUBLIC THROUGH ISSUANCE OF 14,143 RCPS BY WAY OF PRIVATE PLACEMENT TO 127 INVESTORS VIOLATING SECTIONS 56(1), 56(3), 60 READ WITH 2(36), 64(1), 67(3) AND 73 OF THE COMPANIES ACT, 1956 READ WITH 465(2) OF THE COMPANIES ACT, 2013 IN MATTER OF MILANI TECHNO ENGINEERING LTD.

DIRECTED TO REFUND MONEY COLLECTED THROUGH ISSUANCE OF RCPS INCLUDING APPLICATION MONEY ALONGWITH INTEREST @15% PER ANNUM

DIRECTED TO PROVIDE FULL INVENTORY OF ASSETS, MOVABLE OR IMMOVABLE, OR ANY INTEREST OR INVESTMENT OR CHARGE IN ANY OF SUCH ASSETS, INCLUDING DETAILS OF ALL BANKS & DEMAT ACCOUNTS AND/OR MUTUAL FUNDS INVESTMENTS

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

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

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 30-SEP-2025 TO 29-SEP-2029

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DIRECTED TO SUBMIT REPAYMENT REPORT TO SEBI CERTIFIED BY TWO INDEPENDENT CHARTERED ACCOUNTANTS WHO ARE IN PANEL OF ANY PUBLIC AUTHORITY OR PUBLIC INSTITUTION

PROHIBITED FROM ISSUING PROSPECTUS OR ANY OFFER DOCUMENT, OR ISSUE ADVERTISEMENT FOR SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 30-SEP-2025 TO 29-SEP-2029

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 30-SEP-2025 TO 29-SEP-2029

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 30-SEP-2025 TO 29-SEP-2029

RESTRAINED FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC FROM 30-SEP-2025 TO 29-SEP-2029

30-SEP-2025

219

PRIYANK SHARMA

(PAN:CPWPP2985J)

PERPETUAL RESEARCH

PAN:CPWPP2985J

ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION

DIRECTED TO REFUND MONEY TO THE INVESTORS

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

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

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

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 27-FEB-2023 TO 26-FEB-2025

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 27-FEB-2023 TO 26-FEB-2025

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 27-FEB-2023 TO 26-FEB-2025

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 27-FEB-2023 TO 26-FEB-2025

27-FEB-2023

220

PUNAIBEN HANSRAJ SHAH

(PAN:AAPPS2760Q)

INDULGED IN FRONT RUNNING THE TRADES OF BIG CLIENTS VIOLATING SECTIONS 12A(A) TO 12A(C) AND 12A(E) OF SEBI ACT, 1992 AND REGULATIONS 3(A) TO 3(D), 4(1) AND 4(2)(Q) OF SEBI (PFUTP) REGULATIONS, 2003 IN MATTER OF BHARAT KANAIYALAL SHETH FAMILY TRUST, RAVI KANAIYALAL SHETH FAMILY TRUST AND ARJUN DISCRETIONARY TRUST

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 23-OCT-2025 TO 22-OCT-2026

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM FROM 23-OCT-2025 TO 22-OCT-2026

ALLOWED BANKS TO DEBIT FOR THE PURPOSE OF MAKING REFUNDS TO CLIENTS/INVESTORS/COMPLAINANTS

IMPOSED PENALTY RS.5,00,000

23-OCT-2025

SAT: SAT VIDE ITS ORDER DATED 13/02/2026 CONDONED THE DELAY OF 07 DAYS IN FILING OF APPEAL. ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN THREE WEEKS THEREAFTER

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