Order in the matter of Scient Capital Private Limited
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What is this order about?
SEBI issued a final order against Scient Capital Private Limited for failing to meet regulatory requirements as a registered Portfolio Manager, including minimum net worth, correct compliance reporting, and NISM certification.
Who it concerns
Scient Capital Private Limited
What was found or directed
- Failed to maintain minimum net worth of INR 5 crores as required by PM Regulations
- Submitted incorrect compliance reports for FY 2022-23 and 2023-24
- Principal Officer (Mr. Ramesh Rachuri) failed to obtain NISM Series XXI-B certification by September 7, 2023
- Prohibited from on-boarding new clients or accepting additional funds until net worth requirement is met
- SEBI ordered transfer of activities to another registered Portfolio Manager or allow clients to withdraw funds without cost
| Source body | Securities & Exchange Board of India (SEBI) — enforcement orders |
| Reference number | WTM/AN/IMD/IMD-SEC-3/31703/2025-26 |
| Status | closed (section: order) |
| Year | 2025 |
| Closing date | — |
| Documents | 1 |
Highlights & Points worth asking
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Documents
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Order
2025-10-06
1759751403533_3.pdf
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