Description

SEBI issued a prohibitory order under Recovery Certificate No. 3278 of 2021 against Astro Capital Solutions and its Proprietor Mr. Ankit Kumar Upadhayay in the matter of Way2Gains, Capital Mirror and Astro Capital Solutions, restraining disposal of assets to recover dues.

Summary

SEBI has issued a Prohibitory Order in connection with Recovery Certificate No. 3278 of 2021 against Astro Capital Solutions and its Proprietor, Mr. Ankit Kumar Upadhayay. This order is part of SEBI’s enforcement proceedings in the matter involving Way2Gains, Capital Mirror, and Astro Capital Solutions, entities that had operated in violation of SEBI regulations.

Key Points

  • Prohibitory order issued under Recovery Certificate No. 3278 of 2021.
  • Directed against Astro Capital Solutions and its Proprietor Mr. Ankit Kumar Upadhayay.
  • Part of consolidated enforcement action covering Way2Gains, Capital Mirror, and Astro Capital Solutions.
  • Order restrains the named parties from disposing of, transferring, or alienating assets until recovery dues are settled.
  • Issued by SEBI’s Recovery Officer as part of the certificate execution process.

Regulatory Changes

No new regulatory changes. This is an enforcement/recovery action under existing SEBI (Recovery of Amounts) Rules and the SEBI Act, 1992.

Compliance Requirements

  • Astro Capital Solutions and Mr. Ankit Kumar Upadhayay are prohibited from disposing of, transferring, or creating any charge on their assets.
  • Third parties (banks, depositories, registrars) notified through the order may be required to freeze or hold assets of the named entities.
  • Named parties must comply with all directions of the SEBI Recovery Officer.

Important Dates

  • Recovery Certificate No. 3278 issued: 2021
  • Prohibitory Order issued: March 2, 2026

Impact Assessment

This order has limited broader market impact. It is a targeted enforcement action to recover dues from specific defaulting entities. Retail investors who may have been misled by Way2Gains, Capital Mirror, or Astro Capital Solutions may benefit indirectly if recovered funds are distributed. No impact on listed securities or market operations.

Impact Justification

Enforcement/recovery action against a specific defaulter; no broader market or regulatory policy implications. Affects only the named entities.