Description

SEBI issues General Remittance Order for Recovery Certificate No. 8839 of 2025 against Ameet Savant, Crefin India Management Pvt. Ltd., Jeevendra Kumar Poddar, and Shipra Singh for unregistered portfolio management and investment advisory activities.

Summary

SEBI has issued a General Remittance Order for Recovery Certificate No. 8839 of 2025 against four entities: Ameet Savant (Proprietor of Ventura), Crefin India Management Pvt. Ltd., Mr. Jeevendra Kumar Poddar, and Ms. Shipra Singh (PAN: BTKPS6899H). The order relates to enforcement action for conducting unregistered portfolio management services by Ameet Savant through Ventura and unregistered investment advisory activities by Crefin India Management Pvt. Ltd. and its directors.

Key Points

  • Recovery Certificate No. 8839 of 2025 issued against multiple parties
  • Ameet Savant conducted unregistered portfolio management services as proprietor of Ventura
  • Crefin India Management Pvt. Ltd. and its directors conducted unregistered investment advisory activities
  • Four entities named: Ameet Savant, Crefin India Management Pvt. Ltd., Jeevendra Kumar Poddar, and Shipra Singh (PAN: BTKPS6899H)
  • General Remittance Order issued for recovery of dues

Regulatory Changes

No new regulatory changes. This order enforces existing SEBI regulations requiring registration for portfolio management services and investment advisory activities.

Compliance Requirements

  • Portfolio management service providers must be registered with SEBI before commencing operations
  • Investment advisory service providers and their key personnel must obtain proper registration
  • Entities conducting such activities without registration are subject to enforcement action and recovery proceedings
  • Named entities must comply with the recovery order as per the certificate

Important Dates

  • Order Date: December 2, 2025
  • Recovery Certificate No.: 8839 of 2025

Impact Assessment

This enforcement action serves as a strong deterrent against unregistered portfolio management and investment advisory activities. The issuance of a General Remittance Order indicates SEBI’s continued focus on ensuring that only registered entities provide these services to investors. The action impacts the specific entities named and sends a broader message to the market about the importance of regulatory compliance. Investors should verify the registration status of portfolio managers and investment advisors before engaging their services.

Impact Justification

High importance due to enforcement action against unregistered portfolio management and investment advisory services. Medium impact as it affects specific entities rather than broad market operations.