Description
SEBI issues General Remittance Order under Recovery Certificate No. 8881 of 2025 against Thousand Keys and its proprietor Tapas Das (PAN: ANKPD3883D) for operating unregistered investment advisory services.
Summary
SEBI has issued a General Remittance Order dated October 23, 2025, under Recovery Certificate No. 8881 of 2025 against Thousand Keys and its proprietor Tapas Das (PAN: ANKPD3883D). The order relates to enforcement action taken for operating unregistered investment advisory services in violation of SEBI regulations.
Key Points
- Recovery Certificate No. 8881 of 2025 issued against Thousand Keys
- Proprietor identified as Tapas Das (PAN: ANKPD3883D)
- Violation: Operating unregistered investment advisory services
- Order type: General Remittance Order enabling recovery proceedings
- Order date: October 23, 2025
Regulatory Changes
No new regulatory changes. This order enforces existing requirement that investment advisors must be registered with SEBI under the SEBI (Investment Advisers) Regulations, 2013.
Compliance Requirements
- All persons providing investment advisory services must obtain SEBI registration
- Operating without registration is a violation subject to enforcement action and recovery proceedings
- Entities must cease unregistered advisory operations immediately
Important Dates
- October 23, 2025: General Remittance Order issued
- Recovery proceedings active under Recovery Certificate No. 8881 of 2025
Impact Assessment
Entity Impact: High - Recovery proceedings initiated against Thousand Keys and Tapas Das for operating without registration.
Market Impact: Low - Action against specific entity, no broader market implications.
Compliance Impact: Reinforces mandatory registration requirements for investment advisors. Serves as deterrent against operating unregistered advisory services.
Impact Justification
Enforcement action against specific unregistered entity. High severity for the entity involved but low broader market impact. Important for compliance awareness regarding investment advisory registration requirements.