Description
SEBI issues General Remittance Order dated 04.02.2026 in Recovery Certificate No. 8971 of 2025 against Investment Research Advisor (Proprietor: Amit Gangrade) and Algo System (Proprietor: Sudeep Gangrade).
Summary
SEBI has issued a General Remittance Order dated 04.02.2026 in Recovery Certificate No. 8971 of 2025 against Investment Research Advisor (Proprietor: Amit Gangrade, PAN: AVRPG8196P) and Algo System (Proprietor: Sudeep Gangrade, PAN: GDTPS4158F). This order pertains to recovery proceedings initiated in the matter of Investment Research Advisor.
Key Points
- Recovery Certificate No. 8971 of 2025 issued against two entities
- Investment Research Advisor operated by Amit Gangrade (PAN: AVRPG8196P)
- Algo System operated by Sudeep Gangrade (PAN: GDTPS4158F)
- General Remittance Order issued on 04.02.2026
- Related to regulatory violations in investment research advisory services
Regulatory Changes
No new regulatory changes introduced. This is an enforcement action under existing SEBI regulations governing investment advisors and research analysts.
Compliance Requirements
- The named entities (Investment Research Advisor and Algo System) must comply with the recovery directions specified in the order
- Payment of dues as determined by SEBI recovery proceedings
- Compliance with all outstanding regulatory obligations
Important Dates
- Order Date: February 4, 2026
- Recovery Certificate Number: 8971 of 2025
Impact Assessment
This enforcement action is specific to the named entities and their proprietors. The impact is high for the individuals and businesses involved who face recovery proceedings. For the broader market, this demonstrates SEBI’s continued enforcement of regulations governing investment research advisors and serves as a deterrent against non-compliance. Market participants should ensure proper registration and compliance with investment advisory regulations to avoid similar enforcement actions.
Impact Justification
Recovery order against specific entities for regulatory non-compliance. High severity for parties involved but medium impact on broader market.