Final Order in respect of Basan Financial Services Limited
Plain-language summary (AI-generated) — a quick read so you don't have to open the full PDF. May contain errors; the original document below is authoritative.
What is this order about?
SEBI issued a final order against Basan Financial Services Limited for violating multiple regulatory requirements under the SEBI (Intermediaries) Regulations, 2008, including failure to maintain compliance with merchant banker registration obligations.
Who it concerns
Basan Financial Services Limited
What was found or directed
- SEBI found violations of MB Regulations and PIT Regulations
- SEBI recommended cancellation of Basan Financial Services Limited's merchant banker registration (SEBI Registration No. INM000011989)
- Noticee failed to maintain required net worth
- Noticee failed to submit half-yearly reports
- Noticee failed to have dedicated email for complaint redressal
- Noticee failed to maintain structured digital database as per PIT Regulations
- Noticee failed to publish investor charter on website
- Noticee made delayed fee payments for 2017-2020 and has not paid since July 2020
- Noticee failed to intimate address changes through SI portal
- Noticee failed to ensure Key Managerial Personnel have NISM certifications
- Noticee failed to display necessary information at office premises
- Noticee failed to formulate Internal Code of Conduct
| 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
2026-04-07
ORDER_1775475140.pdf
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