Marked as
Published - December 10, 2025
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Arun Panchariya is repeatedly linked to major GDR manipulation schemes involving entities like Global Finance and Capital Ltd. SEBI has issued multiple penalties and attachment orders against him for alleged stock-market fraud. Investigations claim he used offshore companies such as Vintage FZE to execute GDR subscription and dumping schemes.
Owner
High Risk
Based on the available data, we advise consumers to avoid this Individual altogether.
This advisory is based on an aggregate risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to be at great risk by engaging in any sort of consumer-related activity with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Individual.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
Full Name
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Company Rebranded
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Penalty SEBI
Penalty Hiran
Penalty Winsome
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PMLA Case
Loan Amount
Yes — Securities and Exchange Board of India (SEBI) fined and banned him and related entities
Yes — vintage-loan financing for GDR subscription via his controlled entity was used, then shares were converted and sold, which SEBI deemed fraudulent.
Yes — several firms (e.g. IKF Technologies, Hiran Orgochem, Asahi, Winsome) were linked to the manipulation schemes he structured.
Yes — SEBI ordered attachment of his bank and demat accounts to recover penalty amounts.
Yes — he and Vintage FZE/Pan Asia or related entities have been barred from the securities market.
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
Arun Panchariya: SEBI Orders Attachment of Bank & Demat Accounts in GDR Manipulation Case
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Primary Keyword
Arun Panchariya: SEBI Orders in GDR Scam Involving Vintage, Pan Asia and Global Finance & Capital
Arun Panchariya: ED challenges closure of ₹370-crore GDR fraud case linked to his alleged market-manipulation schemes.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
Ultimate Beneficial Owner(s) (UBOs)
Shareholding structure
Associated entities & subsidiaries
Offshore / shell company links
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
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1.8
1.4
2.8
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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Leadership in orchestrating convoluted Global Depository Receipt transactions that were later found to be fraudulent has repeatedly exposed investors to manipulated market conditions and investor harm, underscoring significant legal, financial, and reputational risks.
1/5
2/5
Arun Panchariya’s track record reflects significant financial misconduct and market manipulation concerns, particularly involving fraudulent Global Depository Receipt schemes that led to substantial penalties and regulatory enforcement actions. SEBI fines, asset attachment orders, and investor losses suggest patterns of deceptive investment practices, lack of transparency, and elevated legal and reputational risk.
3/5
It feels like every time regulators tighten rules, he slips through loopholes rather than strengthening internal governance. A brand that pretends to be global but keeps surfacing in fraud and manipulation cases? That’s not accidental — that’s systemic.
From what it looks like, Arun Panchariya built most of his rep on questionable GDR deals and complex offshore structures instead of clear value creation. SEBI penalties and prolonged probes don’t exactly scream credibility. His companies used layers of offshore entities that often obscure ownership and cash flows, and that’s exactly what raises red flags for investors and regulators.
This dude sounds like the OG stock market villain tbh.
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