SEBI finds research analyst assured clients of fixed returns

This is a final order by SEBI regarding an inspection of Mr. Amit Guruh Sachdeva, a registered Research Analyst, concerning allegations that he assured clients of fixed returns and failed to cooperate with SEBI's inspection team.

Mr. Amit Guruh Sachdeva (Research Analyst, SEBI Reg. No. INH100005190)

• SEBI found that the Noticee misled clients by giving assurances regarding fixed returns.
• SEBI found that the Noticee failed to extend cooperation during the inspection by causing undue delay and deleting data from an email ID.
• SEBI determined that violations of the RA Regulations and PFUTP Regulations were established.
• The Designated Authority recommended a regulatory censure and a prohibition from taking up new clients for two months.
• The Noticee argued that the return assurances were made by unauthorized Relationship Managers and that data loss was due to a technical glitch.
• The Noticee mentioned that a penalty of INR 2 lakh was already remitted in separate adjudication proceedings for the same period.

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