Description
SEBI issues recovery notice against Vipin Sharma (PAN: GWBPS1865J) for operating unregistered investment advisor and portfolio manager services through Maxx Innovation Growth and Maxx Innovation.
Summary
SEBI has issued a Notice of Demand dated 26.08.2025 under Recovery Certificate No. 8878 of 2025 against Vipin Sharma (PAN: GWBPS1865J) for operating unregistered investment advisor services and portfolio manager services through entities named Maxx Innovation Growth and Maxx Innovation.
Key Points
- Recovery Certificate No. 8878 of 2025 issued against Vipin Sharma
- PAN of the individual: GWBPS1865J
- Violation relates to unregistered investment advisor services
- Also involves unregistered portfolio manager services
- Connected entities: Maxx Innovation Growth and Maxx Innovation
- Notice of demand dated 26.08.2025
Regulatory Changes
This enforcement action reinforces SEBI’s continued focus on:
- Preventing unregistered investment advisory activities
- Ensuring compliance with portfolio management service regulations
- Taking recovery action against violators
Compliance Requirements
- Investment advisors must be registered with SEBI before offering services
- Portfolio managers must obtain proper registration and licensing
- Entities and individuals must comply with SEBI regulations for financial services
- Violations may result in recovery proceedings and penalties
Important Dates
- Notice of Demand Date: 26.08.2025
- Recovery Certificate issued: 2025
Impact Assessment
This is an individual enforcement action with limited direct market impact. However, it serves as an important reminder to market participants about the need for proper registration and compliance with SEBI regulations when offering investment advisory and portfolio management services. The action demonstrates SEBI’s commitment to protecting investors from unregistered service providers.
Impact Justification
Recovery action against individual for regulatory violations - limited market impact but important for compliance precedent