India Business News: NEW DELHI: Capital markets regulator Sebi on Thursday cancelled the registration of 68 investment advisers for failing to pay renewal fees.The list of.

Sebi cancels registration of 68 advisers

Sebi Cancels Registration of 68 Investment Advisers

Capital markets regulator Sebi has taken a significant step in maintaining the integrity of the Indian financial market by cancelling the registration of 68 investment advisers for failing to pay renewal fees.

Cancellation of Registration

The list of cancelled entities includes:

Truenorth Labs
Equity Mantra
Saurabh Mundra
Sheetal Agrawal
Ateet Hemant Wagh
Getbasis Securities and Technologies India
Lucid Technologies
Avenue Venture Partners Investment Adviser LLP
Other entities

Reason for Cancellation

According to Sebi’s IA (Investment Advisers) rules, every registered IA is required to pay a renewal fee every five years. However, these 68 entities failed to comply with this regulation, leading to the cancellation of their registration.

Implications

The cancellation of registration of these investment advisers is expected to have a significant impact on the Indian financial market, as it aims to maintain the integrity and trustworthiness of the market.

Sebi's move is a step towards protecting investors and maintaining the stability of the Indian capital market.