Description
SEBI issues notice of demand against Ameet Savant and others for unregistered portfolio management and investment advisory services violations.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. 8839 of 2025 against Mr. Ameet Savant (Proprietor of Ventura), Crefin India Management Pvt. Ltd., Mr. Jeevendra Kumar Poddar, and Ms. Shipra Singh for conducting unregistered portfolio management services and investment advisory activities.
Key Points
- Recovery certificate issued against four entities for regulatory violations
- Violations include unregistered portfolio management services by Ameet Savant
- Unregistered investment advisory activity by Crefin India Management and its directors
- Formal demand notice issued for compliance and recovery
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing regulations.
Compliance Requirements
- Named entities must respond to the notice of demand
- Compliance with recovery certificate requirements
- Cessation of unregistered activities
Important Dates
- Recovery Certificate Date: August 22, 2025
- Certificate Number: 8839 of 2025
Impact Assessment
This enforcement action reinforces SEBI’s commitment to preventing unregistered financial services. Impact is primarily on the named entities and serves as a warning to others conducting similar unregistered activities.
Impact Justification
Enforcement action for unregistered services violations affecting specific entities