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India Business News: MUMBAI: In its first major case of a crackdown on a financial influencer (or finfluencer), markets regulator Sebi on Wednesday barred three entities f.
Market regulator Securities and Exchange Board of India (SEBI) has suspended the certificate of registration for Sincere Commodities and Derivatives Markets Pvt Ltd and Indian Portfolio Ltd for three months. In a separate order Kedia Capital Services Pvt Ltd, formerly known as Kedia Commodity Comtrade Pvt Ltd, is prohibited from taking on any new clients for its activities as a broker in the commodity segment. This prohibition also lasts for three months.
Mohit Manghnani SEBI Case: Mohit Manghnani has been prohibited from participating in the securities markets for a substantial period of five years. In addition to this, he has been levied with a substantial fine amounting to Rs 30 lakh - SEBI Bans Individual From Securities Markets For 5 Years; Here's Why
Besides, the regulator restrained Mohit Manghnani (proprietor of Wealthit Global) from associating himself as a director or key managerial personnel with any listed public company or any Sebi-registered intermediary for a period of five years.