Notice of Demand under Recovery Certificate number 9299 of 2026 dated September 28, 2026, issued to Fingravy Wealth Creation Services Private Limited (PAN: AADCF2427Q), Dhiraj Gupta (PAN: CMVPG2518N), Sumit Kumar (PAN: CSIPK7343G), Hemanchal Singh (PAN: FPBPS3962E), Ravindra Singh (PAN: FOIPS5131B) and Ashutosh Sharma (PAN: CBVPS2287K), [Defaulters], jointly and severally, in the matter of Fingravy Wealth Creation Services Private Limited.: under Recovery Certificate No. 9299 of 2026.

The Securities and Exchange Board of India (SEBI) has issued a formal notice of demand to Fingravy Wealth Creation Services Private Limited and its directors. This action follows the issuance of a recovery certificate, which is a legal step taken to recover outstanding dues. The notice is addressed to the company and its listed directors, Dhiraj Gupta, Sumit Kumar, Hemanchal Singh, Ravindra Singh, and Ashutosh Sharma, who are being held jointly and severally responsible for the default.

This development is significant because it indicates a serious lapse in compliance or financial obligations. For investors, it signals potential governance issues within the firm. While the notice does not specify the exact amount of the default, it serves as a formal warning that regulatory enforcement is underway. This could impact the firm's reputation and ability to operate in the future.

Investors should monitor the situation closely to see how the company and its directors respond. A failure to address the demand could lead to further regulatory action or legal proceedings. It is advisable to keep an eye on official updates from SEBI and the company to understand the full implications of this notice.