SEBI cites 39 uncertified staff in Alankit Assignments order

It details the findings of a Designated Authority (DA) and the procedural steps taken, including the Noticee's requests for stays and extensions.

Who it concerns: Alankit Assignments Limited

What SEBI found or ordered

• Alleged violations include 39 associated persons lacking NISM certification, failure to execute tripartite agreements with 7 companies, and missing signature cards for 46% of physical folios.
• The Designated Authority (DA) recommended prohibiting the Noticee from taking up new clients for one year and issuing a regulatory censure.
• SEBI rejected the Noticee's request to stay the proceedings pending an appeal before the Securities Appellate Tribunal (SAT), stating the enquiry proceedings are independent of adjudication proceedings.
• The Noticee was granted extensions to file responses and was provided access to inspect the original DA report and documents.

Also in the document

• The order notes that the Noticee filed an appeal before the SAT against a separate Adjudication Order dated February 28, 2025, based on the same inspection findings.
• SEBI clarified that a draft version of the DA report containing a typographical error ('MB regulations' instead of 'RTA Regulations') was inadvertently shared, but the correct recommendation was stated in the official notice.
• The inspection period covered April 1, 2021, to September 19, 2022.