Description
SEBI issues notice of attachment of bank account under Recovery Certificate No. 7760 of 2024 against M/S. Loftier Investment Advisor and Research Pvt. Ltd., Amit Tripathi, Bhuvaneshwar Tiwari, and Pramil Nigam.
Summary
SEBI has issued a Notice of Attachment of Bank Account dated October 14, 2025, under Recovery Certificate No. 7760 of 2024. The notice is issued against M/S. Loftier Investment Advisor and Research Pvt. Ltd., along with three individuals: Amit Tripathi, Bhuvaneshwar Tiwari, and Pramil Nigam. This enforcement action indicates ongoing recovery proceedings by SEBI against the investment advisor firm and the associated persons.
Key Points
- Recovery Certificate No. 7760 of 2024 has been issued
- Notice involves attachment of bank account(s)
- Four entities/persons affected: Loftier Investment Advisor and Research Pvt. Ltd., Amit Tripathi, Bhuvaneshwar Tiwari, and Pramil Nigam
- Notice issued on October 14, 2025
- Action taken under SEBI’s recovery and enforcement powers
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI recovery provisions.
Compliance Requirements
- The named entities and individuals must comply with the bank account attachment order
- Banks holding accounts of the named parties must freeze/attach the specified accounts as per SEBI’s directive
- Non-compliance may result in further regulatory and legal consequences
Important Dates
- October 14, 2025: Notice of Attachment of Bank Account issued
- Recovery Certificate No. 7760 issued in 2024
Impact Assessment
Direct Impact: High severity impact on M/S. Loftier Investment Advisor and Research Pvt. Ltd. and the three named individuals (Amit Tripathi, Bhuvaneshwar Tiwari, Pramil Nigam). Bank account attachment significantly restricts their financial operations and ability to conduct business.
Market Impact: Limited broader market impact. This is a specific enforcement action against one investment advisor firm and associated persons. However, it reinforces SEBI’s commitment to enforcement and recovery actions against non-compliant market intermediaries.
Investor Impact: Investors who have dealings with Loftier Investment Advisor and Research Pvt. Ltd. should exercise caution and may need to review their investment advisory relationships.
Impact Justification
High severity enforcement action involving bank account attachment for recovery proceedings against an investment advisor and associated individuals. Significant impact on the named entities but limited broader market impact.