SEBI Asks Lifeinspire Knowledge Solutions, Directors to Refund Rs1.83 Crore, Imposes Rs35 Lakh Penalty and 2

Market regulator Securities and Exchange Board of India (SEBI) has ordered Lifeinspire Knowledge Solutions Pvt Ltd (LKSPL) and the company directors, MS Ahammed Ali and MS Mohammed Ali, to refund, jointly and severally, Rs1.83 crore collected from investors as fees or consideration. In addition, SEBI has barred the company and its directors from accessing the securities market for two years and imposed a total monetary penalty of Rs35 lakh. LKSPL and Mohammed Ali have been fined Rs10 lakh each, while Ahammed Ali faces a penalty of Rs15 lakh. The action follows a SEBI investigation into unregistered investment advisory activities linked to Option Research Consultancy, during which suspicious credits were found in LKSPL’s HDFC Bank account. Ahammed Ali, a partner in Option Resear