Description
SEBI issues prohibitory order against Capital Mirror and its Proprietor Mr. Saurabh Samir under Recovery Certificate No. 3277 of 2021 in the matter of Way2Gains, Capital Mirror and Astro Capital Solutions.
Summary
SEBI has issued a prohibitory order against Capital Mirror and its Proprietor Mr. Saurabh Samir under Recovery Certificate No. 3277 of 2021. This order is part of SEBI’s enforcement proceedings in the matter of Way2Gains, Capital Mirror and Astro Capital Solutions — entities that operated as unauthorized investment advisers and were penalised by SEBI. The prohibitory order prevents the named parties from transferring, disposing of, or alienating assets to facilitate recovery of dues.
Key Points
- Prohibitory order issued against Capital Mirror and its Proprietor Mr. Saurabh Samir
- Issued under Recovery Certificate No. 3277 of 2021
- Part of consolidated enforcement proceedings covering Way2Gains, Capital Mirror, and Astro Capital Solutions
- Order prohibits disposal or alienation of assets pending recovery of SEBI-imposed penalties
- Companion orders issued simultaneously under RC Nos. 3276 and 3278 against the other entities in the same matter
Regulatory Changes
No new regulatory framework changes. This is an enforcement action under existing SEBI recovery proceedings, applying prohibitory measures to compel compliance with outstanding penalty recovery certificates issued in 2021.
Compliance Requirements
- Capital Mirror and Mr. Saurabh Samir are prohibited from transferring, disposing of, or alienating any assets
- Banks, depositories and financial institutions are directed to freeze accounts/assets of the named parties as per the order
- Any dealings with the prohibited entities in contravention of the order may attract further regulatory action
Important Dates
- Recovery Certificate No. 3277 issued: 2021
- Prohibitory Order issued: March 2, 2026
- Effective immediately upon issuance
Impact Assessment
The order has limited broader market impact as it targets specific individuals and entities involved in unauthorized investment advisory activities. It reinforces SEBI’s commitment to enforcing penalty recovery against defaulters. Market participants and financial institutions dealing with Capital Mirror or Mr. Saurabh Samir should note the restrictions and comply with any freeze directives. The action is part of a coordinated enforcement sweep against Way2Gains, Capital Mirror, and Astro Capital Solutions.
Impact Justification
Prohibitory order under a 2021 recovery certificate enforcing SEBI penalties against illegal investment advisory entities; restricts asset disposal to facilitate recovery.