SEBI: SEBI banned this big company, now it will not be able to do business, have you also invested?

Market Regulatory SEBI (SEBI) has taken a big step. SEBI has banned Empiric Trade and its owner Neeraj Thakur from the securities market for providing advisory services without permission. In this case, SEBI had issued a show cause notice to him in September 2021. But after this, the regulator found in its investigation that Empiric Trade and Neeraj Thakur were providing investment advisory services without taking the certificate of registration. Subsequently, SEBI took this step.

Know what SEBI said?

SEBI has issued an order for this. SEBI has said in one of its orders that the accused firm had raised Rs 83.70 lakh during January-July 2019. Not only this, SEBI has also ordered that this amount taken as fee for investment advisory activities should be returned to the investors within three months. Subsequently, SEBI banned the company from participating in the securities market for six months after the investors' money was returned. That is, now the company cannot do any business in the stock market.

Fines imposed on 7 companies

Let us tell you that SEBI has shown tremendous strictness in the recent few days. In a separate order, SEBI has imposed a total fine of Rs 28 lakh on 7 entities for violating regulatory norms in the case of Omnitech Infosolutions Ltd. Let us tell you that this order came after SEBI received a complaint alleging misappropriation of shares of Omintech Infos Ltd (OIL) by its promoters and their associates. If you have also bought shares of these companies, then get updated immediately.