Order in the matter of Mr. Nishaan Singh, Proprietor of Sanbun Investments
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What is this order about?
SEBI ordered Mr. Nishaan Singh, proprietor of Sanbun Investments, to refund money collected for unregistered Portfolio Management Services (PMS) after finding discrepancies in his financial records.
Who it concerns
Mr. Nishaan Singh (Proprietor of Sanbun Investments and Sanbun Capital Hedge Fund)
What was found or directed
- SEBI found Mr. Nishaan Singh collected Rs. 13,42,38,054.90 for unregistered PMS activity
- SEBI recalculated the amount after finding the forensic audit inconclusive
- SEBI directed Mr. Nishaan Singh to refund the amount to PMS clients and calls/tips clients
- SEBI rejected the forensic audit findings as inconclusive due to lack of sufficient documents
- SEBI ordered a forensic audit of two HDFC bank accounts
Points worth noting
- The amount collected was recalculated from Rs. 16,19,83,314.61 to Rs. 13,42,38,054.90
- SEBI found the forensic audit inconclusive due to lack of sufficient documents
- SEBI rejected the Noticee's dispute of Rs. 14,16,496/- for course fees
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | — |
| Status | closed (section: order) |
| Year | 2026 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2026-05-26
ORDER_1779813125.pdf
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