ASIC has banned mortgage broker Astna Shirtika Sahay, of Mascot NSW, from engaging in any credit activities for five years.

ASIC also prohibited Ms Sahay from performing any function involved in the engaging of credit activities, including as an officer, manager, employee, contractor or in any other capacity within the meaning of the Corporations Act, for five years.

ASIC found Ms Sahay allowed her father, Mr Shiv Prakash Sahay, to engage in credit activities using her and her company’s (Absolute Finance) credit representative authority and ANZ accreditation. ASIC permanently banned Mr Sahay from engaging in credit activity in September 2015 (15-284MR).

Specifically, ASIC found Ms Sahay:

  • was aware that Mr Sahay had been permanently banned from engaging in credit activity;
  • was involved in 31 contraventions of the National Consumer Credit Protection Act by Mr Sahay, by being knowingly concerned in, or party to, the contraventions;
  • does not possess the attributes of diligence, judgement, honesty and integrity necessary to discharge the duties and obligations imposed by the credit legislation and is not a fit and proper person to engage in credit activities.

Ms Sahay’s banning is recorded on ASIC’s Banned and Disqualified Persons Register.

Ms Sahay has the right to appeal to the Administrative Appeals Tribunal for a review of the ASIC’s decision.


Ms Sahay’s banning arises from ASIC’s investigation into Mr Shiv Prakash Sahay. On 16 June 2020, Mr Sahay was sentenced in the Downing Centre Local Court for two charges of breaching the National Consumer Credit Protection Act (20-138MR).