Description
SEBI remittance advice for recovery proceedings against Jitendra Kumar Tiwari (PAN: ALBPT6629A) in the matter of unregistered portfolio management activities by Allied Financial Services Pvt. Ltd.
Summary
SEBI has issued a remittance advice against Jitendra Kumar Tiwari (PAN: ALBPT6629A), designated as a defaulter in the matter of unregistered portfolio management activities conducted by Allied Financial Services Pvt. Ltd. This action is part of recovery proceedings under Recovery Certificate No. 8062 of 2024.
Key Points
- Defaulter: Jitendra Kumar Tiwari (PAN: ALBPT6629A)
- Matter: Unregistered portfolio management activities by Allied Financial Services Pvt. Ltd.
- Recovery Certificate Number: 8062 of 2024
- Document Type: Remittance Advice
- Issuing Authority: Securities and Exchange Board of India (SEBI)
Regulatory Changes
No new regulatory changes are introduced in this document. This is an enforcement action under existing regulations prohibiting unregistered portfolio management activities.
Compliance Requirements
- This document serves as formal notice of recovery proceedings against the named defaulter
- Entities and individuals engaged in portfolio management services must be duly registered with SEBI
- Unregistered portfolio management activities are prohibited and subject to enforcement action
Important Dates
- Document Date: October 28, 2025
- Recovery Certificate: No. 8062 of 2024
Impact Assessment
This remittance advice is specific to enforcement action against an individual defaulter and has no direct impact on market operations or other market participants. It demonstrates SEBI’s continued vigilance in enforcing registration requirements for portfolio management services and taking recovery action against violators.
Impact Justification
This is a specific enforcement action against an individual defaulter related to unregistered portfolio management activities. While high severity for the individual involved, it has minimal direct market-wide impact.