Archive · 31 Dec 2025
SEBI Cancels Grocery Owner's Research Analyst Registration
SEBI, which is like the boss of the stock market in India, found out that a man named Purooskhan was listed as a research analyst, but he was actually running a small grocery shop in Madurai.
He didn't know anything about the stock market or give any investment advice.
SEBI was surprised and cancelled his registration.
This happened because a website called optionresearch.in was using his name to trick people.
The website promised to help people make money in the stock market but instead caused losses.
Purooskhan said his details were misused, and he had filed police complaints.
SEBI found that the website had used his registration number and even his email and password, which is a big problem.
Purooskhan also said a company had tricked him into giving his documents by pretending to offer him a job.
SEBI cancelled the research analyst registration of Purooskhan, who was running a grocery shop in Madurai.
Purooskhan had no involvement in securities market activities and was unfamiliar with market terms.
The case began after a complaint was filed against the website optionresearch.in, which used Purooskhan's SEBI registration number.
The website promised 'sure shot' trading calls and assured investors their money would double, but the complainant suffered losses of around Rs 4 lakh.
Purooskhan claimed his registration details were misused and filed police complaints, but SEBI found he had shared his email ID and password with the company.
- Who
- Purooskhan, a grocery shop owner in Madurai
- What
- SEBI cancelled his research analyst registration
- When
- The case began in June 2022, and the registration was cancelled in December 2023
- Where
- Madurai, Tamil Nadu, India
- Why
- Purooskhan had no involvement in securities market activities and was running a grocery shop
- Person Involved
- Purooskhan
- Location
- Madurai, Tamil Nadu, India
- Business Type
- Grocery shop (100 sq. ft.)
- Complaint Platform
- SEBI's SCORES platform
- Website Involved
- optionresearch.in
- Investor Loss
- Rs 4 lakh
- Registration Fee Paid
- Rs 50,000
- SEBI Authority
- Santosh Kumar Shukla
Sources
SEBI Cancels 'Research Analyst' Registration After Finding Holder Ran Grocery Shop In Madurai
‘How did he get registered?’: SEBI cancels license of ‘research analyst’ found running grocery store
SEBI Cancels Registration Of 'Research Analyst' Found Running Grocery Shop
