Description

SEBI issues attachment order against P. Krishnakumar and Jagadeesan S. in relation to unregistered investment advisory services/activities conducted through YM Forecast.

Summary

SEBI has issued a Notice of Attachment dated November 13, 2025 in Recovery Certificate (RC) No. 8824 of 2025 against P. Krishnakumar and Jagadeesan S. This enforcement action relates to their involvement in unregistered investment advisory services and activities conducted through YM Forecast.

Key Points

  • Enforcement action taken against P. Krishnakumar and Jagadeesan S.
  • Matter concerns unregistered investment advisory services/activities
  • Activities were conducted through entity named YM Forecast
  • Attachment order issued under recovery proceedings (RC No. 8824 of 2025)
  • Demonstrates SEBI’s strict enforcement against unauthorized investment advisory operations

Regulatory Changes

No new regulatory changes introduced. This is an enforcement action reinforcing existing requirements for mandatory registration of investment advisors under SEBI (Investment Advisers) Regulations, 2013.

Compliance Requirements

  • All persons/entities providing investment advisory services must be registered with SEBI
  • Unregistered advisory activities are prohibited and subject to enforcement action
  • Investment advisors must comply with SEBI (Investment Advisers) Regulations, 2013
  • Persons operating unregistered advisory services face attachment of assets and recovery proceedings

Important Dates

  • November 13, 2025: Date of Notice of Attachment
  • Recovery Certificate No.: RC 8824 of 2025

Impact Assessment

Market Impact: Low - Limited to specific entities involved in the case

Regulatory Impact: Medium - Reinforces SEBI’s enforcement stance against unregistered investment advisory activities

Operational Impact: High for entities named - Asset attachment and recovery proceedings initiated against P. Krishnakumar and Jagadeesan S.

Broader Significance: Serves as warning to market participants operating unregistered investment advisory services that SEBI actively pursues enforcement action including asset attachment and recovery proceedings against violators.

Impact Justification

Enforcement action against unregistered investment advisors; impacts specific entities and serves as warning to market participants about compliance with registration requirements