The Securities and Exchange Board of India (SEBI) issued a prohibitory order on December 15, 2025, against Mohammad Nasiruddin Ansari, Rahul Rao Padamati and Golden Syndicate Ventures Pvt Ltd in connection with unregistered investment advisory activities carried out under the name ‘Baap of Chart’.
SEBI has initiated recovery proceedings to collect over Rs 18 crore from the three defaulters after they failed to clear various dues. Notably, the recovery action comes amid a broader enforcement effort targeting unauthorised financial advice disseminated without proper registration.
In issuing the prohibitory order, SEBI cited multiple recovery certificates that underpin its authority to act against the noticees. The order bars the defaulters from transferring or dealing with movable or immovable property held by them. Additionally, all persons are prohibited from taking any benefits with respect to the properties attached in the order.
Details Of The SEBI Order
SEBI issued a demand notice to Ansari, Padamati and Golden Syndicate Ventures in May 2025, requiring them to pay the liabilities within 15 days. However, the noticees did not comply, prompting SEBI’s Recovery Officer to issue an Attachment Order in July 2025, which froze all demat accounts, mutual fund holdings and bank accounts held in their names. Banks were also directed to restrict access to lockers.
Notably, the proceeds payable to the regulator consist of penalties, interest, costs, and other charges, totalling around Rs 18.13 crore. SEBI’s order notes that assets available through account remittances are insufficient to meet the dues, which led to the broader prohibitory restrictions on property transactions.
The Securities Appellate Tribunal (SAT) had earlier addressed part of the matter in September 2025, directing Padamati to remit half of the funds he received, amounting to Rs 1.2 crore, in connection with the unauthorised advisory services.
However, Padamati failed to adhere to the SAT directive within the stipulated four-week period. Finally, SEBI’s latest order also requires the noticees to provide full details of all movable and immovable properties, including original title deeds, within two weeks.
SEBI Action Against Unregistered Finfluencers
In 2025, SEBI expanded its enforcement against unregistered financial influencers, known as finfluencers, as part of a broader effort to protect investors and curb misleading online advice.
In February, SEBI strengthened its rules by barring its regulated entities from associating with unregistered individuals who provide recommendations about financial securities, even indirectly.
Advertisements
Moreover, in August SEBI faced calls from the Parliamentary Standing Committee on Home Affairs to introduce a “verified tick” system for registered advisors on social media, alongside mandatory disclosures of conflicts of interest, disclaimers and registration numbers on finfluencer…
Source link
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We blogs.grocliq.com want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Website Upgradation is going on for any glitch kindly connect at [email protected]
