Description

SEBI issues notice of attachment of bank accounts and demat accounts against Investment Research Advisor (Proprietor: Amit Gangrade) under Recovery Certificate No. 8973 of 2025 with AP No. 15129 & 15130 of 2026.

Summary

SEBI has issued a notice of attachment of bank accounts and demat accounts against Investment Research Advisor (Proprietor: Amit Gangrade, PAN: AVRPG8196P) under Attachment Proceedings No. 15129 & 15130 of 2026 dated January 01, 2026. This action is being taken in the matter of Investment Research Advisor under Recovery Certificate No. 8973 of 2025.

Key Points

  • Entity: Investment Research Advisor
  • Proprietor: Amit Gangrade (PAN: AVRPG8196P)
  • Recovery Certificate No.: RC 8973 of 2025
  • Attachment Proceedings No.: AP 15129 & 15130 of 2026
  • Date of Notice: January 01, 2026
  • Action: Attachment of bank accounts and demat accounts
  • Status: Defaulter

Regulatory Changes

No new regulatory changes. This is an enforcement action under existing SEBI recovery proceedings framework.

Compliance Requirements

The defaulter (Investment Research Advisor and its proprietor Amit Gangrade) is subject to:

  • Attachment of bank accounts
  • Attachment of demat accounts
  • Recovery proceedings under RC No. 8973 of 2025

Banks and depositories are required to comply with the attachment order and freeze the specified accounts.

Important Dates

  • January 01, 2026: Date of attachment notice (AP No. 15129 & 15130 of 2026)
  • Recovery Certificate issued: 2025 (RC No. 8973 of 2025)

Impact Assessment

Direct Impact:

  • The proprietor Amit Gangrade and Investment Research Advisor entity will have their bank accounts and demat accounts frozen
  • Inability to access funds or securities in the attached accounts

Market Impact:

  • Limited direct market impact as this affects a specific defaulter entity
  • Reinforces SEBI’s enforcement capabilities in recovery proceedings

Compliance Impact:

  • Demonstrates consequences of non-compliance with SEBI regulations
  • Banks and depositories must implement the attachment orders promptly
  • Serves as a deterrent for other investment advisors regarding regulatory compliance

Impact Justification

High severity enforcement action involving attachment of bank and demat accounts against a defaulter investment research advisor in recovery proceedings