Description
SEBI remittance order against individuals and entity for providing unregistered investment advisory services through 'Baap of Chart' platform.
Summary
SEBI has issued General Remittance Order RC No. 8758 of 2025 against Rahul Rao Padamati (PAN: CRTPP4198Q), Mohammad Nasiruddin Ansari (PAN: BYSPA0419E), and Golden Syndicate Ventures Pvt Ltd (PAN: AAJCG9452E) for conducting unregistered investment advisory activities through the ‘Baap of Chart’ platform.
Key Points
- Enforcement action against three entities for providing investment advisory services without proper SEBI registration
- Activities conducted through ‘Baap of Chart’ platform violated SEBI regulations
- Remittance order issued as penalty for non-compliance with investment advisory regulations
- Action demonstrates SEBI’s continued crackdown on unregistered financial service providers
Regulatory Changes
No new regulatory changes introduced. This order enforces existing investment advisory registration requirements under SEBI regulations.
Compliance Requirements
- All investment advisory service providers must obtain proper SEBI registration before commencing operations
- Entities providing financial advice or recommendations must comply with Investment Advisors Regulations
- Unregistered entities must cease advisory activities immediately
- Proper disclosures and compliance frameworks must be established before providing investment advice
Important Dates
- Order Date: August 25, 2025
- Immediate cessation of unregistered activities required
Impact Assessment
This enforcement action reinforces SEBI’s regulatory oversight of investment advisory services. While targeting specific entities, it serves as a deterrent for other unregistered operators and protects investors from potentially unqualified advice. The action may lead to increased compliance costs for advisory platforms but enhances overall market integrity and investor protection.
Impact Justification
High importance due to enforcement action against unregistered investment advisors, medium market impact as it affects specific entities