Karvy, Quant Capital among 8 firms losing SEBI investment adviser registrations over unpaid fees; what does this mean?
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Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓SEBI cancelled the investment adviser registrations of eight firms, including Karvy and Quant Capital, for failing to pay renewal fees.
- ✓The regulator said these cancellations do not stop other businesses under the same brands from operating.
- ✓Investors should check if their adviser’s registration remains valid before seeking any financial advice.
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- MARKET
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- Business Today
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- 2 Minute(s)
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- India Economy
Importantly, the cancellations apply specifically to the named entities' registrations as investment advisers and should not be interpreted as a blanket prohibition on other businesses operating under the same corporate brands.
Why did SEBI cancel the registrations?
Under SEBI's Investment Advisers Regulations, 2013, registered advisers must pay renewal fees every five years to maintain their registrations.
The regulator found that all eight entities had failed to meet this requirement despite being granted registration certificates.
Karvy Investment Advisory Services, registered on July 3, 2014, had not paid renewal fees since July 3, 2019.
Quant Capital Private Limited, registered on June 28, 2016, had outstanding renewal fees from June 28, 2021.
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