SEBI Cancels 'Research Analyst' License of Grocery Shop Owner

• SEBI canceled the Research Analyst registration of Madurai resident Purushkhan.
• Investigation revealed Purushkhan was a grocery shop owner, not providing stock market advice.
• The case began with a complaint against optionresearch.in, which used Purushkhan's registration number for fraudulent claims.
• Purushkhan claimed his registration was misused after being lured with a job offer.
• SEBI's strict action sends a message against fraudulent claims and misuse of regulations.

Why It Matters: SEBI's action against a fake analyst highlights regulatory gaps and warns against market fraud.