Description

SEBI issues notice of attachment against Manish Kumar Mahaseth in matter of unregistered investment advisory services by Live Indian Market.

Summary

SEBI has issued a Notice of Attachment dated November 13, 2025, under Recovery Certificate No. 8786 of 2025 against Manish Kumar Mahaseth, Proprietor of Live Indian Market, in connection with providing unregistered investment advisory services. This enforcement action is part of SEBI’s ongoing efforts to curb illegal investment advisory activities.

Key Points

  • Recovery Certificate No. 8786 of 2025 issued against Manish Kumar Mahaseth
  • Matter relates to unregistered investment advisory services
  • Entity involved: Live Indian Market (Proprietor: Manish Kumar Mahaseth)
  • Notice of Attachment issued to recover amounts due to SEBI
  • Action taken under SEBI’s recovery provisions

Regulatory Changes

No new regulatory changes. This represents enforcement of existing regulations requiring registration of investment advisors under SEBI (Investment Advisers) Regulations, 2013.

Compliance Requirements

  • All investment advisors must be registered with SEBI before offering advisory services
  • Unregistered investment advisory activities are illegal and subject to enforcement action
  • Investors should verify registration status of investment advisors on SEBI website before engaging their services
  • Entities providing investment advice must comply with SEBI (Investment Advisers) Regulations, 2013

Important Dates

  • November 13, 2025: Notice of Attachment issued

Impact Assessment

Market Impact: Low - This is an enforcement action against a single unregistered entity and does not affect registered market participants or overall market operations.

Regulatory Impact: Medium - Demonstrates SEBI’s continued vigilance against unregistered investment advisory activities and serves as a deterrent to illegal operators.

Investor Impact: Positive - Protects investors from unregistered and potentially fraudulent investment advisory services. Investors are reminded to deal only with SEBI-registered investment advisors.

Impact Justification

Enforcement action against individual for unregistered investment advisory services. High severity for the entity involved but low market-wide impact as it targets a single unregistered operator.