SEBI orders adjudication against research firm for alleged return assurances and trade inducements

This is an adjudication order by SEBI regarding Investowryght Research Analytics Private Limited, a registered research analyst, concerning alleged violations of regulations related to assuring returns, KYC compliance, fee limits, and reporting obligations.

Investowryght Research Analytics Private Limited (PAN: AAGCI9545K, Registration No: INH000012157)

• SEBI alleged the company violated PFUTP Regulations and RA Regulations by assuring returns, inducing trades, and seeking a share in client profits.
• SEBI alleged the company failed to maintain KYC records in line with the CERSAI Uniform KYC Format.
• SEBI alleged the company charged fees beyond the maximum limit of Rs. 1,51,000 per annum to nine clients and displayed non-compliant pricing on its website.
• SEBI alleged the company failed to publish complaint redressal data within the required 7-day timeframe.
• SEBI alleged the company failed to submit periodic reports to the Research Analyst Administration and Supervisory Body (RAASB) for the half-yearly periods ending March 31, 2025, and September 30, 2025.
• The Noticee did not appear for the hearing scheduled on September 09, 2026, nor did it submit a response to the hearing notice.

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