ED searches in Ahmedabad and Junagadh in PMLA case

Gandhinagar: Directorate of Enforcement (ED), Ahmedabad Zonal Office has conducted search operations under the provisions of Prevention of Money Laundering Act (PMLA), 2002 at 4 locations in Ahmedabad and Junagadh on 23.05.2025 in the matter of M/s Alderbrooke Portfolio Management Services Pvt. Ltd.and others.

ED initiated investigation based on complaint filed by SEBI before Hon’ble Special Court for
SEBI cases, Greater Mumbai, under Section 12 and 24(1) of SEBI Act, 1992 alleging that M/s
Alderbrooke Portfolio Management Services Pvt. Ltd.have collected/raised around Rs. 24.38 Crore from its clients for their portfolio management, despite not being registered with SEBI as a portfolio manager or in any other capacity and also failed to refund the said collected amount.

ED investigation revealed that M/s Alderbrooke Portfolio Management Services Pvt. Ltd.was
collecting funds and indulging in unauthorized portfolio management activities by entering into agreement/MOU with the clients and managing their portfolio/ funds by investing in cash as well as derivative segment without obtaining registration from SEBI in violation of Section 12of the SEBI Act, 1992. Search operation resulted in the recovery and seizure of various incriminating documents.

Further investigation is under progress.