Description
SEBI issued attachment notice dated 07.08.2025 in Recovery Certificate No. 8822 of 2025 against Mohandass Sangaiyah (Smart Gain Advisory Services) for operating unregistered investment advisory services.
Summary
SEBI has issued an attachment notice dated 07.08.2025 in Recovery Certificate No. 8822 of 2025 against Mohandass Sangaiyah, who operates as the proprietor of Smart Gain Advisory Services (PAN: DDKPM6432C). This enforcement action is related to the provision of unregistered investment advisory services.
Key Points
- Recovery Certificate No. 8822 of 2025 issued against Mohandass Sangaiyah
- Entity: Smart Gain Advisory Services (Proprietorship)
- PAN: DDKPM6432C
- Violation: Operating unregistered investment advisory services
- Notice Date: 07.08.2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI regulations regarding investment advisory services registration.
Compliance Requirements
- Investment advisors must be registered with SEBI before providing advisory services
- Unregistered entities must cease investment advisory activities immediately
- Recovery proceedings initiated for penalties and dues
Important Dates
- Attachment Notice Date: 07.08.2025
- Recovery Certificate No: 8822 of 2025
Impact Assessment
This enforcement action demonstrates SEBI’s continued vigilance against unregistered investment advisors. The attachment notice indicates serious compliance violations and serves as a warning to other unregistered entities. Impact is primarily on Smart Gain Advisory Services and serves as a deterrent for similar violations in the market.
Impact Justification
High importance due to enforcement action against unregistered investment advisor; medium impact as it affects one specific entity rather than broader market