PR Sundar settles with Sebi, to refrain from dealing in securities for a year 
Special 
PR Sundar settles with Sebi, to refrain from dealing in securities for a year Investment advisor PR Sundar’s has entered into a settlement with Securities and Exchange Board of India and agreed to pay Rs 6 crore and netizens said karma has caught up with him.
SEBI had earlier sent show-cause notices to PR Sundar, his company Mansun Consulting, and co-promoter of the company Mangayarkarasi Sundar over complaints for providing investment advisory services without the requisite registration from the market regulator.
SEBI observed that PR Sundar was running the website www.prsundar.blogspot.com through which he was offering various packages for providing advisory services, SEBI said. The fees collected in lieu of the services were received via a payment gateway linked to the bank account of Mansun Consultancy Pvt Ltd, the regulator had said.
"The website has a tab titled “Advisory” wherein the following is mentioned, “Advisory services -Daily calls on Telegram: We will be giving daily calls on what positions to take, adjustments,etc. on telegram messaging app”. The website also provided a payment link including a Razorpay link," said SEBI in its settlement order on Thursday.
He has also been asked to refrain from dealing in securities for a year. The settlement amount as Rs 15.6 lakh had to be paid by each, totalling to Rs 46.8 lakh; and disgorgement amount of Rs 6.08 crore, including interest of 12 per cent per annum from June 1, 2020, till the date of submission of the revised settlement terms, which was reached in February 2023.
Some Twitter users said PR Sundar used to give bad trading calls and ask for lot of fees. Here are a few reactions.
The advisory fees collected in Mansun’s bank account through Razorpay and direct credit came to over Rs 4.36 crore and over Rs 23.5 lakh, respectively.
Copyright©2025 Living Media India Limited. For reprint rights: Syndications Today
