SEBI Ban Future Plus Services: Market regulator SEBI (Securities Exchange Board of India) has banned Future Plus Services and its proprietors for 6 months for advising them to invest in the market. Now this company and its proprietor cannot give investment advice to the customers. SEBI has banned Future Plus Services and its proprietor Manish Parihar from giving investment advice. Now this company will not be able to give investment advice without regulatory authorization. Explain that the Security Exchange Board of India had received a complaint against the company, after which SEBI set up an inquiry into the matter and took this decision.
Giving investment advice without registration
The market watchdog pointed out that Future Plus Services and Parihar (Notice) were providing investment advice to customers, even though both were not registered with SEBI. The noticeee collected Rs 77.10 lakh from August 2016 to September 2019. SEBI has given this information in its final order.
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SEBI gave this order
The Security Exchange Board of India said in its order that the money has to be returned to the investors after meeting the noticee. In the next three months, the noticee has to return the money received from the clients. Please tell that the customer had given this money to the company as a fee, while the company SEBI did not even have a register to give investment advice.
banned from the market
Apart from this, SEBI has banned the company and Mohit Parihar from securities markets for the next 6 months. Apart from this, this company and Mohit Parihar will not be able to provide any kind of advisory service to the people.
SEBI said in its order that without taking direct and indirect certificate from SEBI and after the ban period, this company can give investment advice to investors. Apart from this, in another order, the market regulator has canceled the registration certificate of Amrapali Adya Trading and Investment Private Limited and Adya Commodities Private Limited. The companies had violated SEBI rules.