Description

SEBI issues a prohibitory order under Recovery Certificate No. 3276 of 2021 against Way2Gains and its proprietor Mr. Rajeev Kumar Tiwari, restraining them from alienating assets in connection with the matter of Way2Gains, Capital Mirror and Astro Capital Solutions.

Summary

SEBI has issued a Prohibitory Order in connection with Recovery Certificate (RC) No. 3276 of 2021 against Way2Gains and its proprietor Mr. Rajeev Kumar Tiwari. The order prohibits the defaulter from selling, transferring, creating encumbrances, or otherwise disposing of any movable or immovable assets. This action is part of SEBI’s recovery proceedings in the matter involving Way2Gains, Capital Mirror, and Astro Capital Solutions — entities alleged to have provided unregistered investment advisory services.

Key Points

  • SEBI has issued a prohibitory order under the SEBI (Recovery of Amounts) Rules, 2013 against Way2Gains and proprietor Mr. Rajeev Kumar Tiwari.
  • The order is linked to Recovery Certificate No. 3276 of 2021, issued to recover dues owed to SEBI.
  • The defaulter is restrained from alienating, transferring, or encumbering any assets until the dues are recovered.
  • This order is part of a series of related enforcement actions involving Way2Gains, Capital Mirror, and Astro Capital Solutions.
  • Relevant banks and financial institutions may be directed to attach accounts held by the defaulter.

Regulatory Changes

No new regulatory framework is introduced. This order is an enforcement step under the existing SEBI (Recovery of Amounts) Rules, 2013, following a prior SEBI direction or order imposing a monetary penalty or disgorgement amount on the defaulter.

Compliance Requirements

  • Way2Gains and Mr. Rajeev Kumar Tiwari must not sell, transfer, mortgage, hypothecate, or create any charge on any assets.
  • Banks and depositories holding assets of the defaulter are directed to freeze/prohibit transactions in accounts as notified by SEBI’s Recovery Officer.
  • Any third party that receives notice of this order must comply with the prohibitory directions.

Important Dates

  • Recovery Certificate No. 3276 issued: 2021
  • Prohibitory Order issued: March 2026
  • Order remains in force until dues under RC No. 3276 of 2021 are fully recovered.

Impact Assessment

This order has no direct impact on broader stock markets or listed companies. It is a targeted enforcement action against unregistered investment advisors operating under the names Way2Gains, Capital Mirror, and Astro Capital Solutions. Retail investors who may have paid for advisory services from these entities should note that SEBI has been actively pursuing recovery of dues. The action reinforces SEBI’s ongoing crackdown on unregistered investment advisors.

Impact Justification

Routine SEBI enforcement action targeting an unregistered investment advisor; no broader market or listed company impact.