sebi:Order/AN/SM/2025-26/31564
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Facts / Headnote
Violation of Regulation 7(2) of SEBI (Research Analysts) Regulations, 2014 established; penalty of ₹1,00,000 imposed under Section 15EB of the SEBI Act, 1992
Provisions invoked
- s. 15
- s. 19
- s. 11B
- s. 11
- s. 15J
- s. 15F
- s. 28A
- s. 15I(1)
- s. 15E
Regulations
- Reg. 7
- Reg. 7(3)
- Reg. 7(2)
Parties
- Sunil Suklal Pawar (Proprietor, Options King Research Analyst)
Holding
The Noticee, proprietor of Options King Research Analyst, violated Regulation 7(2) of the SEBI (Research Analysts) Regulations, 2014 by not holding a valid NISM certificate from June 07, 2019 till December 30, 2024. A penalty of ₹1,00,000 was imposed under Section 15EB of the SEBI Act, 1992.
Full text
__________________________________________________________________________________ Adjudication order in the matter of Options King Research Analyst – Proprietor Sunil Suklal Pawar Page 2 of 15
__________________________________________________________________________________ Adjudication order in the matter of Options King Research Analyst – Proprietor Sunil Suklal Pawar Page 3 of 15
__________________________________________________________________________________ Adjudication order in the matter of Options King Research Analyst – Proprietor Sunil Suklal Pawar Page 4 of 15
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Source: SecMarx — sebi:Order/AN/SM/2025-26/31564. 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.