Sebi bans 3 entities for unregistered investment advisory services

Capital markets regulator Sebi on Thursday barred three entities, including Investocare Financial Research, from the securities markets for varying periods for providing unregistered investment advisory services. An individual -- Ramesh Babu -- has been restrained for 2 years till the expiry of the period from the date of completion of refunds to investors, while Investocare and its proprietor Ravish Kandhari were debarred for one year from the securities markets. The markets watchdog has also asked Ramesh Babu to refund investors' money collected through unregistered investment advisory services within three months. As per Sebi, Investocare and its proprietor provided advisory services without holding the mandatory certificate of registration by the market regulator. Ramesh Babu had received Rs 60.94 lakh in his account from November 2015 to July 2021, for the investment advisory services provided by Investocare, thereby violating the provisions of IA (Investment Advisers) rules,

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