SEBI orders action against unregistered investment advisory activities by Zara Portal proprietor

This order addresses unregistered investment advisory activities and impersonation of a registered entity by Zara Portal (Proprietor Mr. Anurag Jaiswal). SEBI examined complaints regarding the collection of fees for stock tips and assured returns without the required SEBI registration.

Zara Portal, Proprietor – Mr. Anurag Jaiswal

• SEBI found that the Noticee collected a total of ₹47,05,709.67 from investors for unregistered investment advisory activities.
• SEBI found that the Noticee impersonated a SEBI-registered investment adviser (Sai Proficient Research Investment Advisory) to solicit clients.
• SEBI found that the Noticee promised assured returns (e.g., ₹9,00,000 profit) in violation of regulations.
• The Noticee did not respond to the Show Cause Notice or file any written submissions, leading to an ex-parte decision.
• SEBI directed the Noticee to refund the fees collected from investors.
• SEBI directed the debarment of the Noticee from the securities market.
• SEBI imposed a monetary penalty on the Noticee.

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