Description
SEBI issues General Remittance Order for recovery proceedings against Investment Research Advisor (Proprietor Amit Gangrade) and Algo System (Proprietor Sudeep Gangrade).
Summary
SEBI issued a General Remittance Order dated February 4, 2026 in Recovery Certificate No. 8972 of 2025 against Investment Research Advisor (Proprietor: Amit Gangrade, PAN: AVRPG8196P) and Algo System (Proprietor: Sudeep Gangrade, PAN: GDTPS4158F). This order relates to recovery proceedings in the matter of Investment Research Advisor.
Key Points
- Recovery Certificate No. 8972 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 February 4, 2026
- Part of SEBI’s enforcement and recovery proceedings
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery procedures.
Compliance Requirements
The named entities and proprietors are required to comply with the recovery proceedings as per the remittance order. Financial institutions and intermediaries may be directed to facilitate recovery as per SEBI instructions.
Important Dates
- Order Date: February 4, 2026
- Recovery Certificate Number: 8972 of 2025
Impact Assessment
This enforcement action impacts the specific entities named in the recovery certificate. Market participants should note SEBI’s continued focus on compliance by investment research advisors and algorithmic trading system operators. The action serves as a reminder of regulatory consequences for non-compliance.
Impact Justification
Recovery proceedings against investment research advisors indicate regulatory enforcement action but has limited broader market impact