FSRA issues notice of proposal against Sukhraj Atwal, Baiju Vijayaraghavan and Balwinder Chouhan

TORONTO, April 29, 2026 /CNW/ - The Financial Services Regulatory Authority of Ontario (FSRA), has initiated enforcement action against Sukhraj Atwal (Atwal), Baiju Vijayaraghavan (Vijayaraghavan) and Balwinder Chouhan (Chouhan).

Atwal is not and has never been licensed by FSRA. FSRA alleges that Atwal contravened the Mortgage Brokerages, Lenders and Administrators Act, 2006 (Act) by:

• Describing herself in a way that may reasonably be expected to lead to the belief that she is a mortgage broker or agent contrary to section 11 of the Act; and
• Failing to cooperate with an investigation and to provide documents and information to FSRA, contrary to section and 30(6) of the Act.

Vijayaraghavan was licensed as a mortgage broker at the time of the alleged conduct. His licence expired in 2025. FSRA alleges that Vijayaraghavan contravened the Act by:

• Giving false or deceptive information and documents when dealing in mortgages, contrary to section 43(2) of the Act; and
• Dealing in mortgages outside of his authorized brokerage, contrary to section 2(3) of the Act.

FSRA alleges that and Chouhan dealt in mortgages without holding a licence to do so, contrary to section 2(3) of the Act.

FSRA is proposing to impose a compliance order and administrative penalties in the total amount of $50,000 on Atwal. FSRA is also proposing to impose administrative penalties in the total amount of $30,000 on Vijayaraghavan and $10,000 on Chouhan.

Atwal, Vijayaraghavan and Chouhan requested hearings before the Financial Services Tribunal about this proposal.

Learn more:

Access our enforcement database to see how FSRA is working to protect consumers through its monitoring and enforcement activities. 

For media inquiries:

Lilian Kim 
Sr. Media Relations Officer
Financial Services Regulatory Authority
[phone]
Email: [email protected]

SOURCE Financial Services Regulatory Authority of Ontario