Description
SEBI issues notice of attachment for demat account under Recovery Certificate No. 8491 of 2025 against INSIGHT RESEARCH and its proprietor Anil Gurjar in the matter of unregistered investment adviser.
Summary
SEBI has issued a notice of attachment for demat account(s) under Recovery Certificate No. 8491 of 2025 against INSIGHT RESEARCH and its proprietor Anil Gurjar. This enforcement action relates to the matter of operating as an unregistered investment adviser in violation of SEBI regulations.
Key Points
- Recovery Certificate No. 8491 of 2025 issued against INSIGHT RESEARCH and its proprietor Anil Gurjar
- Enforcement action for operating as unregistered investment adviser
- Notice of attachment issued for demat account(s) for recovery purposes
- Part of SEBI’s compliance and enforcement mechanism
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing regulations governing investment advisers registration requirements.
Compliance Requirements
- Depositories and depository participants must comply with the attachment order
- Demat account(s) of INSIGHT RESEARCH and Anil Gurjar to be attached as per the recovery certificate
- Entities must provide necessary cooperation for recovery proceedings
- Investment advisers must ensure proper registration with SEBI before offering advisory services
Important Dates
- Order Date: November 10, 2025
- Recovery Certificate No.: 8491 of 2025
Impact Assessment
Market Impact: Limited direct market impact as this is entity-specific enforcement action.
Regulatory Impact: Reinforces SEBI’s stance on unregistered investment adviser activities and demonstrates active enforcement mechanism through demat account attachment for recovery.
Compliance Impact: Serves as reminder to all investment advisers to maintain proper SEBI registration and comply with regulatory requirements. Highlights consequences of operating without required registration.
Impact Justification
Enforcement action against unregistered investment adviser involving demat account attachment. Specific to individual entity, limited broader market impact but significant compliance precedent.