Capital markets regulator Sebi has imposed a penalty of Rs 12 lakh on investment adviser Investment Visor for promising assured returns, making misleading claims on its website and mis-selling to clients.
Praveen Verma is the proprietor of Investment Visor.
Incidentally, one of the employees of Investment Visor called up a Sebi official in the Indore Local Office and offered assured profit or return, the markets regulator said in its order passed on Monday.
During the call, the employee was informed that the daily average return being delivered or given by the calls of Investment Visor on the invested amount of the clients is around 20 per cent to 30 per cent, the order mentioned.
Moreover, the employee informed the official that risk profiling of the client is being done by Sebi-Mumbai.
Apart from these, other violations by Investment Visor include failure to resolve complaints received on SEBI Complaints Redress System (SCORES); collection of GST from clients even after cancella
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