Description
SEBI issues attachment notice 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 (RC) no 8800 of 2025 against V N Aravind, Proprietor of Magic Mantra (PAN: BTOPA3202N) in connection with unregistered investment advisory services.
Key Points
- Attachment notice issued against V N Aravind, Proprietor of Magic Mantra
- PAN of the entity: BTOPA3202N
- Related to unregistered investment advisory services
- Recovery Certificate number: 8800 of 2025
- Notice dated August 11, 2025
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing investment adviser regulations.
Compliance Requirements
- Investment advisers must register with SEBI before providing advisory services
- Unregistered advisory services are prohibited and subject to enforcement action
- Entities providing investment advice must comply with SEBI Investment Advisers Regulations
Important Dates
- Notice Date: August 11, 2025
- Publication Date: August 12, 2025
Impact Assessment
This enforcement action demonstrates SEBI’s continued vigilance against unregistered investment advisory services. While the impact is limited to the specific entity, it serves as a warning to other unregistered advisors about compliance requirements. Investors should verify the registration status of investment advisers before engaging their services.
Impact Justification
Enforcement action against unregistered investment advisor - significant for compliance but limited market impact