Description
SEBI issues notice of attachment for bank accounts in recovery proceedings against INSIGHT RESEARCH and its proprietor Anil Gurjar for operating as an unregistered investment adviser.
Summary
SEBI has issued a Notice of Attachment under Recovery Certificate No. 8491 of 2025 against INSIGHT RESEARCH and its proprietor Anil Gurjar for operating as an unregistered investment adviser. This notice directs banks and financial institutions to attach and freeze the bank accounts and assets of the defaulters to facilitate recovery of outstanding dues.
Key Points
- Recovery Certificate No. 8491 of 2025 issued against INSIGHT RESEARCH and proprietor Anil Gurjar
- Entity operated as an unregistered investment adviser in violation of SEBI regulations
- Notice of attachment issued for bank accounts and assets
- Banks and financial institutions directed to comply with the attachment order
- Part of SEBI’s enforcement and recovery proceedings
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI regulations prohibiting unregistered investment advisory activities.
Compliance Requirements
- Banks and financial institutions must immediately freeze and attach all accounts and assets belonging to INSIGHT RESEARCH and Anil Gurjar
- No withdrawals, transfers, or transactions to be permitted in the attached accounts
- Banks must report compliance with the attachment order to SEBI
- Any person or entity holding funds or assets of the defaulters must preserve and report them
Important Dates
- Order Date: November 10, 2025
- Recovery Certificate No.: 8491 of 2025
- Effective Date: Immediate upon issuance
Impact Assessment
Impact Level: High
Affected Parties:
- INSIGHT RESEARCH and its proprietor Anil Gurjar (direct impact)
- Banks and financial institutions holding accounts/assets (compliance obligation)
- Clients who may have engaged with the unregistered adviser
Market Impact: Limited direct market impact, but reinforces SEBI’s strict enforcement against unregistered investment advisers and serves as a deterrent.
Investor Protection: This action protects investors by taking strong action against entities providing unregistered investment advisory services and demonstrates SEBI’s commitment to enforcing registration requirements.
Impact Justification
This is a high-impact enforcement action involving bank account attachment for recovery of dues from an entity operating as an unregistered investment adviser, representing serious regulatory violations and active recovery proceedings by SEBI.