Description

SEBI has debarred Akshay Kumar and two others from securities markets for 2 years for operating unregistered investment advisor/research analyst services through Telegram channels 'Intraday Jackpot' and 'Professional Day Trading Institute'.

Summary

SEBI issued order no. QJA/MN/ERO/ERO-OTHER/32401/2026-27 dated April 30, 2026, debarring Akshay Kumar and two other noticees (Noticees 1, 2, and 3) from the securities markets for a period of two years. The action stems from their operation of unregistered investment advisor and research analyst services through Telegram channels named ‘Intraday Jackpot’ and ‘Professional Day Trading Institute’.

Key Points

  • Noticees 1, 2, and 3 are debarred from accessing, buying, selling, or otherwise dealing in the securities market — directly or indirectly — for 2 years from April 30, 2026, or until compliance with the order’s sub-para (e) directions, whichever is later
  • The debarment covers all direct and indirect market participation in any manner whatsoever
  • Noticees holding open positions in exchange-traded derivative contracts as of the order date are permitted to close/square off such positions within 3 months from the order date, or at contract expiry, whichever is earlier
  • Settlement of pay-in and pay-out obligations for transactions executed before market close on April 30, 2026 is permitted
  • The order is effective immediately from April 30, 2026
  • BSE Notice No. 20260430-31 issued by the Department of Surveillance (DOSS)

Regulatory Changes

No new regulatory framework changes. This is an enforcement action under existing SEBI regulations governing registered investment advisors and research analysts. Operating unregistered advisory services — including through social media platforms such as Telegram — constitutes a violation of SEBI regulations.

Compliance Requirements

  • Trading Members: Must take note of the debarment order and ensure that the named noticees (Akshay Kumar and two others) are not permitted to trade or access the securities market through their platforms
  • Noticees: Must immediately cease all direct and indirect market access; may only close open derivative positions within the prescribed 3-month window
  • Trading members are advised to ensure full compliance with the debarment directions

Important Dates

  • Order Date: April 30, 2026
  • Effective Date: April 30, 2026 (immediate)
  • Debarment Duration: 2 years from April 30, 2026 (until April 30, 2028, or until compliance with sub-para (e), whichever is later)
  • Derivative Position Close-out Deadline: Within 3 months from April 30, 2026 (by July 30, 2026), or at contract expiry, whichever is earlier

Impact Assessment

This enforcement action has limited direct market impact as it targets specific individuals rather than listed companies or systemic market infrastructure. However, it carries significant regulatory signaling value — SEBI is actively pursuing unregistered advisory operations conducted via social media platforms like Telegram. Trading members must update their compliance systems to block access for the named noticees. Retail investors who may have followed these Telegram channels for investment tips are indirectly affected, as the advisory services will cease. The action reinforces SEBI’s ongoing crackdown on unregistered investment advisors exploiting digital platforms to solicit clients.

Impact Justification

SEBI enforcement order resulting in a 2-year market debarment for unregistered advisory activities; high regulatory importance as it signals crackdown on social media-based unregistered advisors, but direct market impact is limited to the named individuals.