sebi:Order/AN/RG/2025-26/31337
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
SCN disposed of without imposition of penalty; alleged violations not established
Provisions invoked
- s. 15
- s. 19
- s. 12(1)
- s. 12A
- s. 15H
Regulations
- Reg. 3
- Reg. 2(1)(c)
- Reg. 9
- Reg. 5
- Reg. 3(a)
- Reg. 3(1)
- Reg. 24(2)
- Reg. 13(i)
Parties
- Mr. Purooskhan
Holding
The Adjudicating Officer found that the alleged violations in respect of the Noticee, Mr. Purooskhan, were not established on the material available on record, and accordingly disposed of the Show Cause Notice without imposing any penalty.
Full text
Adjudication Order in the matter of Mr. Purooskhan, Research Analyst Page 2 of 16 2.3. Clauses 1, 7 and 8 of third schedule of Code of Conduct for Research Analyst read with Regulations 24(2) and 13(i) SEBI (Research Analyst) Regulations, 2014.
Adjudication Order in the matter of Mr. Purooskhan, Research Analyst Page 3 of 16 Based on the examination in the matter, briefly summarized findings/allegations by SEBI are interalia given below: 5.1. Role of Purooskhan
Adjudication Order in the matter of Mr. Purooskhan, Research Analyst Page 4 of 16 5.1.12. The SEBI registration number displayed on the website of ORC gave a false and misleading impression to the investors that they are actually dealing with SEBI registered intermediary. 5.1.13. Further Purooskhan has submitted the KYC forms of clients/investors of ORC and SBI statement of ORC to SEBI at the instructions of G Faheeth Ali, Partner of ORC. This demonstrates that Purooskhan was acting in connivance with the partner of ORC. 5.1.14. Vide email dated 02.03.2023 (Annexure-37 to ER), Gulshan Kumar (i.e. the complainant) has referred to SEBI about a Profile i.e. https://front.page/@puroskhan in Frontpage (Frontpage is an online platform which claims to be a place where traders and investors can connect with each other, share their ideas, and learn from each other) which has displayed the SEBI registration details of Purooskhan under the name and logo of Option Research www.optionresearch.in. The Bio of the said profile has mentioned www.optionresearch.in CEO, contact info- optionresearch,in@gmail.com and website- www.optionresearch.in. There is also verified tick mentioned for the profile. 5.1.15. Vide SEBI’s email dated 03.03.2023, Frontpage was informed that ORC/www.optionresearch.in is not registered with SEBI and advised to take necessary action. Frontpage vide email dated 04.03.2023 (Annexure-38 to ER) has informed that they verify the SEBI Registration and ownership by sending
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Source: SecMarx — sebi:Order/AN/RG/2025-26/31337. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.