SEBI · Enforcement · Medium

SEBI orders action against Shree Sai Proficient for unregistered advisory

SEBI traced a ₹5 lakh payment to an unregistered entity that promised assured returns using a registered advisor's credentials.

06 Jul 2026 Affects: Shree Sai Proficient Financial Services, proprietor Ms. Madhuri Garg, and clients who paid for assured-return schemes.

What changed

SEBI issued an order against Shree Sai Proficient Financial Services for unregistered advisory activities.
The entity used another advisor's registration number and promised assured returns, violating SEBI laws.
Payment of ₹5 lakhs via Easebuzz was linked to the unregistered entity, not the registered advisor.

The read

The order is small in scale but a sharp reminder. The entity promised 90-95% accuracy and ₹8 lakh profit over 90 trading sessions—classic assured-return language that should set off alarms. SEBI traced ₹5 lakh in payments via Easebuzz to an unregistered account, exposing an impersonation of a legitimate advisor. No legitimate advisor guarantees returns. This enforcement reinforces SEBI's focus on unregistered advisory activities.

Shree Sai Proficient Financial ServicesMs. Madhuri Garg₹5 lakh

Primary source: official circular (PDF)