Description

SEBI issues completion order for Recovery Certificate No. 7807 of 2024 against Siddhant Suresh Chandan, confirming full recovery of dues in the matter of unregistered investment advisory services.

Summary

SEBI has issued a Completion Order for Recovery Certificate No. 7807 of 2024 against Siddhant Suresh Chandan in the matter of unregistered investment advisory services. This order confirms that the recovery proceedings have been concluded and the amount due under the recovery certificate has been fully recovered.

Key Points

  • Recovery Certificate No. 7807 of 2024 issued against Siddhant Suresh Chandan has been fully satisfied.
  • The matter pertains to unregistered investment advisory services in violation of SEBI (Investment Advisers) Regulations, 2013.
  • SEBI’s Recovery Officer has declared the recovery proceedings as complete.
  • No further recovery action is required against the named individual under this certificate.

Regulatory Changes

No regulatory changes are introduced by this order. It is an administrative closure of an existing enforcement action under SEBI’s recovery mechanism.

Compliance Requirements

  • No new compliance obligations arise from this completion order.
  • The recovery proceedings under RC No. 7807 of 2024 are formally closed.
  • Entities and individuals providing investment advisory services must ensure they are registered with SEBI under the Investment Advisers Regulations to avoid similar enforcement action.

Important Dates

  • Recovery Certificate No. 7807 of 2024: Issued in 2024.
  • Completion Order: Issued May 2026.
  • All recovery dues under RC No. 7807 of 2024 have been settled as of the date of this order.

Impact Assessment

This completion order has minimal market impact as it pertains to the closure of an individual enforcement recovery matter. It signals SEBI’s continued enforcement of regulations against unregistered investment advisors and demonstrates successful recovery of dues. No listed companies or traded securities are directly affected. The order serves as a reminder to investment advisors to operate only with valid SEBI registration.

Impact Justification

Completion order for an individual recovery certificate indicating dues have been fully recovered. Closed enforcement matter with no ongoing market impact.