SEBI cancels Purooskhan's research analyst registration after consent

This order cancels the SEBI registration of Mr. Purooskhan, a Research Analyst, after SEBI found that his registration details were misused by an unregistered firm (M/s Option Research Consultancy) to fraudulently collect fees from investors. The cancellation was recommended by the Designated Authority and consented to by Mr. Purooskhan during the hearing.

Who it concerns: Mr. Purooskhan (Research Analyst, SEBI Reg. No. INH200006008); M/s Option Research Consultancy (ORC); Mr. G Faheeth Ali; Ms. Fathima M; Mr. MS Ahammed Ali; Mr. MS Fakrudeen.

What SEBI found or ordered

• Cancellation of Mr. Purooskhan's SEBI Research Analyst registration certificate.
• The order takes effect immediately.
• SEBI noted that the unregistered firm ORC used Mr. Purooskhan's registration number on its website to appear as a SEBI-certified entity.
• Complainants reported losses of approximately Rs. 4 lakhs and Rs. 16,000 after paying fees to ORC.
• A separate SEBI order dated August 27, 2024, directed ORC and its partners to refund Rs. 30,39,588 and imposed a two-year debarment and monetary penalties.
• The Adjudicating Officer gave Mr. Purooskhan the benefit of the doubt regarding fraud, finding no evidence of collusion or monetary benefit.
• The Designated Authority recommended cancellation because Mr. Purooskhan admitted to sharing his email password with Mr. Faheeth Ali, compromising security.

Also in the document

• Mr. Purooskhan explicitly requested the cancellation of his registration via email on November 26, 2025, and consented to it during the hearing on December 11, 2025.
• During the hearing, SEBI noted that Mr. Purooskhan runs a small provision store and does not undertake research analyst activities.
• The Show Cause Notice sent to Mr. Purooskhan's physical address was returned undelivered, though the email copy was delivered.