Description
SEBI issues release order cancelling Recovery Certificate No. 8491 of 2025 issued against Anil Gurjar, proprietor of Insight Research, in the matter of unregistered investment adviser.
Summary
SEBI has issued a release order for Recovery Certificate No. 8491 of 2025 that was issued against Anil Gurjar, proprietor of Insight Research, in connection with operating as an unregistered investment adviser. The release order indicates that the recovery proceedings have been completed or compliance has been achieved, resulting in the cancellation of the recovery certificate.
Key Points
- Release order issued for Recovery Certificate No. 8491 of 2025
- Entity involved: Insight Research (Proprietor: Anil Gurjar)
- Original matter: Operating as unregistered investment adviser
- Recovery certificate is being cancelled/released
- Document created on February 3, 2026
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action resolution document.
Compliance Requirements
- The release order indicates that the compliance obligations related to this recovery certificate have been satisfied
- No ongoing compliance requirements for other entities as this pertains to a specific case resolution
Important Dates
- February 3, 2026: Release order issued for Recovery Certificate No. 8491 of 2025
Impact Assessment
Market Impact: Minimal - This is an individual case resolution with no broader market implications.
Operational Impact: Limited to the specific entity (Insight Research/Anil Gurjar). The release order suggests that the matter has been resolved, either through payment of dues or other compliance measures.
Regulatory Significance: This demonstrates SEBI’s enforcement mechanism for unregistered investment advisers and the completion of recovery proceedings. It serves as a reminder of the requirement for investment advisers to be registered with SEBI.
Impact Justification
This is a release/cancellation order for a recovery certificate against an individual for operating as an unregistered investment adviser. The order indicates compliance has been achieved and the matter is resolved. Limited market-wide impact as it pertains to an individual entity.