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Sebi bars Impact Research, proprietor from securities market for 6 months
Markets regulator Sebi has imposed a six-month ban on Impact Research and its sole proprietor Nitin Neema from the securities market for providing advisory services without its authorisation.
The watchdog had issued a showcause notice to them in August 2021.
Sebi found that Impact Research and Nitin Neema (noticees) were engaged in investment advisory services without obtaining a certificate of registration.
The amount of money prima facie to have been collected by the noticees was Rs 83.75 lakh during the period from September 2014 to December 2016, Sebi said in an order on Thursday.
The regulator has directed the noticees to refund within three months the money received from investors as fees in respect of their unregistered investment advisory activities.
Also, Sebi has barred the noticees from accessing the securities markets for a period of six months or till the expiry of six months from the date of completion of refunds to investors, whichever is later.
In addition, they s
