SEBI Imposed Restrictions On Capital Exchange India

SEBI imposed restrictions on Capital Exchange India, will not be able to invest for 6 months.

SEBI on Monday banned Capital Exchange India and its partners from the securities market for six months.

Capital Exchange India was banned for providing unauthorized investment advisory services and also directed them to refund investors’ money.

It may be noted that Capital Exchange India, a partnership firm of Mayuri Verma, Ankit Mishra, and Nirmit Daheria, was engaged in providing advice on investing, buying, and selling securities or investment products against returns through its website.

Capital Exchange India was working as an investment advisor.

SEBI noted that the company and its associates were acting as an Investment Adviser (IA) while it was not registered with the regulator in the capacity of an IA as mandated under the rules, pursuant to an order.

By indulging in such activities, they have violated the provisions of IA norms and PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Rules.

Earned more than Rs 23 lakh during May-August 9, 2019.

The regulator noted that Capital Exchange India had received over Rs 23 lakh during May-August 9, 2019 through investment advisory services.

SEBI in its order has asked Capital Exchange India and its partners to refund the fees charged to investors in respect of their unregistered investment advisory activities within a period of three months.

SEBI imposed restrictions on Capital Exchange India for six months.

Also, they are prohibited from entering and transacting in the securities market, directly or indirectly, for a period of six months or till the expiry of six months from the date of completion of refund to investors.

Instructions related to refund will be applicable from February 28.

This week Tata will become Air India, 18 thousand crores were bid.

Air India will be handed over to the Tata Group on January 27 of this week.

According to people familiar with the matter, the remaining formalities for the disinvestment of Air India are expected to be completed in the next few days.

A senior Air India official has said that the Tata Group will be handed over the command of Air India by January 27.

On October 8 last year, the central government approved the acquisition of the airline by accepting the bid made by the Tata Group.