Capital markets regulator Sebi on Monday barred Fincap Research Investment Advisor and two individuals from the securities markets for two years for violating regulatory norms.
The regulator also slapped a penalty of Rs 14 lakh on Sonika Namdharani, proprietor of Sebi-registered Fincap Research Investment Advisor and Rs 7 lakh on Mahavir Prasad Mundra.
Further, the markets watchdog restrained them from associating themselves as a director or key managerial personnel with any listed company or any public company which intends to raise money from the public, or any intermediary registered with Sebi for a period of two years.
The order came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Fincap Research Investment Advisor from April 2018 to November 2019 (inspection period).
In its 62-page order, Sebi found that Fincap was knowingly acting in a deceitful manner by allowing Mahavir (Sonika’s husband) to run her proprietorship, submitting fake experien
| Subscribe To Our Free Newsletter |
