Description

SEBI issues Notice of Attachment for Recovery Certificate No. 8839 of 2025 in matter of unregistered portfolio management services by Ameet Savant (Ventura) and unregistered investment advisory by Crefin India Management Pvt. Ltd.

Summary

SEBI has issued a Notice of Attachment for Recovery Certificate No. 8839 of 2025 against Ameet Savant (Proprietor of Ventura), Crefin India Management Pvt. Ltd., Mr. Jeevendra Kumar Poddar, and Ms. Shipra Singh. This enforcement action relates to violations involving unregistered portfolio management services activity conducted by Ameet Savant and unregistered investment advisory activity by Crefin India Management Pvt. Ltd. and its directors.

Key Points

  • Recovery Certificate No. 8839 of 2025 issued against four entities/individuals
  • Primary violations: Operating unregistered portfolio management services and investment advisory services
  • Entities involved: Ameet Savant (Proprietor of Ventura), Crefin India Management Pvt. Ltd., and two directors
  • Notice of Attachment issued as part of recovery proceedings
  • Enforcement action demonstrates SEBI’s continued crackdown on unregistered market intermediaries

Regulatory Changes

No new regulatory framework changes. This is an enforcement action under existing SEBI regulations requiring registration for portfolio management services (PMS) and investment advisory (IA) activities.

Compliance Requirements

  • All entities providing portfolio management services must be registered with SEBI under PMS regulations
  • Investment advisory services require proper registration under SEBI (Investment Advisers) Regulations, 2013
  • Unregistered activities attract enforcement action including recovery proceedings and asset attachment
  • Market participants should verify registration status of service providers before engaging

Important Dates

  • Recovery Certificate issued: 2025
  • Notice of Attachment: October 17, 2025

Impact Assessment

Market Impact: Low to Medium - This is an enforcement action against specific entities and does not directly impact listed securities or broader market operations.

Regulatory Impact: Medium - Reinforces SEBI’s regulatory framework requiring mandatory registration for portfolio management and investment advisory services. Serves as a deterrent for unregistered operators.

Investor Impact: Medium - Highlights risks of engaging with unregistered service providers. Investors should verify registration status of portfolio managers and investment advisors through SEBI’s official database before engaging their services.

Precedent Value: This action demonstrates SEBI’s enforcement mechanism including recovery proceedings and asset attachment for regulatory violations, particularly for operating without required registrations.

Impact Justification

Enforcement action against specific entities for unregistered activities; serves as regulatory precedent but limited direct market impact