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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 : 17-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.

PORTFOLIO MANAGERS: VIOLATED SEBI (PFUTP) REGULATIONS, 2003

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person FIRST GLOBAL FINANCE PVT.LTD.

(PAN:AAACF0660J)  
Click here to view complete history of this specific entity/person DEVINA MEHRA

PAN:AAHPM4465E
Click here to view complete history of this specific entity/person NEERAJ KHANNA

PAN:AAEPK5719J
  		INVESTED CLIENT FUNDS BASED ON ADVICE OF ANOTHER ENTITY AND OUTSOURCED CORE PMS AND INVESTMENT-RELATED ACTIVITIES TO ALGO ONE VIOLATING REGULATION 24(10) AND CLAUSES 1, 3 AND 13(A) OF SCHEDULE III (CODE OF CONDUCT) READ WITH REGULATION 21 OF SEBI (PORTFOLIO MANAGERS) REGULATIONS 2020 AND SEBI CIRCULAR CIR/MIRSD/24/2011 DATED 15/12/2011

MADE EXAGGERATED STATEMENTS AND MISLEADING COMPARISONS VARIOUS DOCUMENTS AND INFORMATION SENT TO CLIENTS VIOLATING CLAUSES 2.1 READ WITH 1.1, 1.2, 1.3, 1.4, 1.5, 1.6 AND 1.8 OF ANNEXURE 2A OF SEBI MASTER CIRCULAR FOR PORTFOLIO MANAGERS DATED 07/06/2024 AND CLAUSES 1, 3, 5, 6, 10(A) & 13(A) OF SCHEDULE III (CODE OF CONDUCT) READ WITH REGULATION 21 OF SEBI (PORTFOLIO MANAGERS) REGULATIONS 2020

DID NOT ENSURE UNIFORMITY AND CONSISTENCY IN PERFORMANCE REPORTING ACROSS MARKETING MATERIALS, PERFORMANCE REPORTS, FACT SHEETS, PRESENTATIONS AND DISCLOSURES MADE TO SEBI VIOLATING OF REGULATION 22(10) OF SEBI (PORTFOLIO MANAGERS) REGULATIONS, 2020 AND CLAUSES 4.5.2.1, 4.5.3.4 & 5.6.1 OF SEBI MASTER CIRCULAR AND CLAUSES 1, 3 AND 13(A) OF SCHEDULE III OF CODE OF CONDUCT READ WITH REGULATION 21 OF SEBI (PORTFOLIO MANAGERS) REGULATIONS 2020

SOLD PORTFOLIO MANAGERS SERVICES AND INDUCED INVESTORS TO INVEST ON EXPECTATION OF SUPERIOR TECHNOLOGICAL AND INVESTMENT CAPABILITIES VIOLATING REGULATIONS 4(2)(K) AND 4(2)(S) OF SEBI (PFUTP) REGULATIONS, 2020   		IMPOSED PENALTY RS.14,00,000

PROHIBITED FROM ACCEPTING FRESH/NEW CLIENTS FROM 26-MAY-2026 TO 15-JUN-2026

CEASED AND DESIST FROM OUTSOURCING CORE INVESTMENT RELATED ACTIVITIES

DIRECTED TO REMOVE ALL EXAGGERATED AND/OR MISLEADING ADVERTISEMENTS

26-MAY-2026 		SAT: SAT VIDE ITS ORDER DATED 27/07/2026 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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