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Sebi bars entities, individuals for unauthorised advisory services
Capital markets regulator Sebi has barred two individuals and two entities from the securities markets for providing investment advisory services without the regulator's authorisation.
The regulator has restrained Mahankal Capital, its proprietor Ajay Thakur, Money Capital Investment and its proprietor Vijay Thakur from securities markets for six months.
The direction came after complaints against 15 entities, who were allegedly involved in the activities of rendering investment advisory for the period April-November 2019 without obtaining requisite registration from the market watchdog.
Sebi conducted an examination in the matter and issued an ad interim ex-parte order dated February 07, 2020, against the entities and directed them to cease and desist from holding out/acting as an investment advisor and further prohibited them from the securities markets until further orders.
The regulator found that both the entities and their proprietors were engaged in providing investment ...