sebi:Order/JS/YK/2025-26/31573
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Violations established against Noticee; held liable for monetary penalty under Sections 15HA and 15EB of the SEBI Act
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 12A
- s. 15H
- s. 12
- s. 15J
- s. 141
- s. 15E
- s. 65B
- s. 66
- s. 65A
Regulations
- Reg. 4
- Reg. 3
- Reg. 2(1)(c)
- Reg. 16
- Reg. 17
- Reg. 25
- Reg. 2
- Reg. 3(a)
- Reg. 24
- Reg. 20
- Reg. 24(2)
- Reg. 2(1)(b)
- Reg. 25(1)
- Reg. 25(1)(i)
- Reg. 2(u)
Parties
- Streetgains Research Services
- Kumar Venkataramegowda Santhosh
Holding
Noticee, a SEBI-registered Research Analyst, violated PFUTP Regulations, RA Regulations and SEBI circulars by assuring returns/loss recovery, mis-selling, advertising past performance, incentivizing unsuitable sales and failing to digitally sign research records, and was held liable for monetary penalty under Sections 15HA and 15EB of the SEBI Act.
Full text
Adjudication Order in the matter of Streetgains Research Services (Proprietor - Kumar Venkataramegowda Santhosh, Research Analyst) Page 2 of 45 were engaging with his clients. Therefore, it was alleged that Noticee had violated the provisions of regulations 3(a), (b), (c), (d), 4(1), and 4(2)(k), (o) and (s) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 (hereinafter referred to as “PFUTP Regulations”) read with sections 12A(a), (b), and (c) of the Securities and Exchange Board of India Act, 1992 (hereinafter referred to as “SEBI Act”) and clauses 1 and 7 of code of conduct as specified in the Third Schedule read with regulation 24(2) of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014 (hereinafter referred to as “RA Regulations”).
Adjudication Order in the matter of Streetgains Research Services (Proprietor - Kumar Venkataramegowda Santhosh, Research Analyst) Page 3 of 45 APPOINTMENT OF ADJUDICATING OFFICER
Adjudication Order in the matter of Streetgains Research Services (Proprietor - Kumar Venkataramegowda Santhosh, Research Analyst) Page 4 of 45 50k tomorrow. She was also told to expect 20k to 30k returns daily, and any losses will be recovered on that day itself.
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Source: SecMarx — sebi:Order/JS/YK/2025-26/31573. 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.