Ex Parte Interim Order in the matter of Unregistered Investment Advisory and Unregistered Portfolio Management Services activities by Stark Investments and Ors.
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What is this order about?
SEBI issued an ex parte interim order against Stark Investments and related entities for allegedly operating unregistered investment advisory and portfolio management services without SEBI registration.
Who it concerns
Surabhi Chauhan, Zahin Ismail Jessani, Stark Investments, Starkblue Ventures LLP, Shakuntala Davendra Singh
What was found or directed
- Unregistered Investment Advisory (UIA) activities
- Unregistered Portfolio Management Services (UPMS) activities
- Mandatory SEBI registration required under SEBI Act, IA Regulations 2013, PMS Regulations 2020
- Entities solicited investments through WhatsApp chats and Excel spreadsheets
- Entities collected trading account credentials from investors
- Entities offered exclusive partnership in Starkblue Ventures LLP
- Investors were promised high returns with lower volatility
- Entities operated under the name 'SQAR' (Stark Quantitative Absolute Return) Strategy
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/AS/WRO/WRO-DIV-3/32505/2026-27 |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
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Documents
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Order
2026-07-24
1784891980348.pdf
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