Description

SEBI issues a prohibitory order against Ankit Goel (PAN: AUQPG5385A) under Recovery Certificate No. 5228 of 2022 in the matter of Equity Mania Financial Advisory, directing banks and depositories to freeze assets to recover outstanding dues.

Summary

SEBI has issued a prohibitory order against Ankit Goel (PAN: AUQPG5385A) under Recovery Certificate No. 5228 of 2022 in the matter of Equity Mania Financial Advisory. The order directs banks, financial institutions, and depositories to prohibit the defaulter from withdrawing, transferring, or alienating any funds or securities held in their accounts, to facilitate recovery of outstanding dues payable to SEBI.

Key Points

  • Prohibitory order issued against Ankit Goel (PAN: AUQPG5385A) under Recovery Certificate No. 5228 of 2022
  • Case relates to the matter of Equity Mania Financial Advisory
  • Banks and depositories directed to freeze accounts and prevent asset transfers
  • Order issued by SEBI’s Recovery Officer under the SEBI Act, 1992
  • All banks, financial institutions, and depositories where the defaulter holds accounts are bound by this order

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI recovery proceedings framework pursuant to the Second Schedule of the Income Tax Act, 1961, as applicable to SEBI.

Compliance Requirements

  • All banks and financial institutions holding accounts of Ankit Goel must immediately prohibit withdrawals, transfers, or alienation of funds
  • Depositories (NSDL/CDSL) and depository participants must freeze demat accounts held by the defaulter
  • Entities receiving this order must comply immediately and report status of accounts to SEBI
  • Non-compliance with a prohibitory order may attract legal consequences under applicable law

Important Dates

  • Recovery Certificate No. 5228 issued: 2022
  • Prohibitory Order issued: February 25, 2026
  • Compliance: Immediate upon receipt of order

Impact Assessment

This order has no broader market impact. It is an individual enforcement action targeting a specific defaulter (Ankit Goel) associated with Equity Mania Financial Advisory, which was subject to SEBI penalty proceedings. The action is limited to freezing assets of the named individual to recover dues owed to SEBI and has no effect on listed securities, trading operations, or market participants generally.

Impact Justification

Enforcement action against a specific individual for recovery of dues; no broader market or regulatory policy impact.