Description
SEBI notice of attachment issued against V N Aravind, Proprietor of Magic Mantra (PAN: BTOPA3202N) for unregistered investment advisory services.
Summary
SEBI has issued a notice of attachment dated August 11, 2025 in Recovery Certificate no. 8799 of 2025 against V N Aravind, Proprietor of Magic Mantra (PAN: BTOPA3202N) in connection with unregistered investment advisory services.
Key Points
- Recovery Certificate number: 8799 of 2025
- Target entity: V N Aravind, Proprietor of Magic Mantra
- PAN: BTOPA3202N
- Violation: Unregistered Investment Advisory services
- Action: Notice of Attachment issued
- Date of notice: August 11, 2025
Regulatory Changes
No regulatory changes introduced. This is an enforcement action under existing regulations.
Compliance Requirements
- Investment advisors must register with SEBI before providing advisory services
- Entities providing unregistered investment advisory services are subject to enforcement action
- Recovery proceedings may be initiated against violators
Important Dates
- August 11, 2025: Notice of Attachment issued
- August 12, 2025: Notice published on SEBI website
Impact Assessment
This is an individual enforcement action against a specific entity for providing unregistered investment advisory services. The impact is primarily on the named entity and serves as a deterrent for others operating without proper registration. Market participants should ensure compliance with investment advisor registration requirements.
Impact Justification
Enforcement action against unregistered investment adviser - significant regulatory violation but limited market impact