Sebi bans entities from market in unauthorised investment advisory case ...Middle East

Sebi on Wednesday barred Safe Trader and its proprietor Rajnandani Jalkhediya from the securities markets for providing unauthorised investment advisory services and also imposed a penalty of Rs 2 lakh on them. In addition, they have been asked to refund Rs 39.64 lakh collected from the clients as fees in respect of their unregistered investment advisory activities. In its order, Sebi found that the entities were providing investment advisory services without obtaining a registration certificate from the regulator, which was in violation of the provisions of Investment Advisers (IA) rules. The order revealed that over Rs 39 lakh were credited in the accounts of the entities between August 20

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