Markets regulator Sebi on Tuesday imposed a penalty of Rs 50 lakh on an entity and its directors for violating the regulatory norms in the case of CapitalVia Global Research Ltd.
The regulator slapped a fine of Rs 50 lakh on CapitalVia Global Research Ltd (Noticee 1) and its directors — Kiran Ravindra Kumar Choudhary (Noticee 2), Rohit Gadia (Noticee 3) and Prem Prakash (Noticee 4).
The penalty has to be paid jointly and severally.
The order came after Sebi conducted an inspection of CapitalVia Global Research Ltd from April 2016 to September 2017 to verify whether CapitalVia and its directors had complied with regulatory requirements prescribed under IA (Investment Advisers) norms.
Sebi had issued two orders against the company and its directors.
In the first order vide dated November 2016, it directed noticees not to solicit or undertake any fresh advisory business from the date of order till further directions.
In its second order, which was passed on January 2017, noticees w
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