sebi:QJA/MN/WRO/WRO-DIV-3/31486/2025-26
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Facts / Headnote
On SAT remand, reassessed refund amount as Rs. 14,66,561.65 after allowing Rs. 2,99,128.78 as established non-advisory credits, directed refund with public notice and asset restraint, and re-imposed penalty of Rs. 1,00,000 under Section 15EB refusing waiver.
Provisions invoked
- s. 12(1)
- s. 11B
- s. 11
- s. 15J
- s. 15F
- s. 28A
- s. 15E
Regulations
- Reg. 3(1)
Parties
- M/s. Ideal Equity
- Anilkumar Talpada
Holding
The Noticee acted as an unregistered investment adviser and must refund Rs. 14,66,561.65 collected as advisory fees, and a minimum penalty of Rs. 1,00,000 under Section 15EB is re-imposed with no waiver.
Full text
_____________________________________________________________________________________________ Order in the matter of Unregistered Investment Advisory Activities by M/s. Ideal Equity (Proprietor: Anilkumar Talpada) Page 2 of 19
_____________________________________________________________________________________________ Order in the matter of Unregistered Investment Advisory Activities by M/s. Ideal Equity (Proprietor: Anilkumar Talpada) Page 3 of 19
_____________________________________________________________________________________________ Order in the matter of Unregistered Investment Advisory Activities by M/s. Ideal Equity (Proprietor: Anilkumar Talpada) Page 4 of 19
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Source: SecMarx — sebi:QJA/MN/WRO/WRO-DIV-3/31486/2025-26. 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.