Sebi bans GoCapital, proprietor from mkts for 4 yrs; directs them to refund investors

In a clampdown on unregistered investment advice, Sebi today barred GoCapital and its proprietor Ankitkumar Shashikant Singhania from the securities market for at least four years, while asking them to refund the fees collected from investors.

A Sebi probe found that GoCapital and Singhania were providing investment advisory services to clients for consideration without registration with the regulator and thereby violated Sebi's Investment Advisers Regulations.

They were giving trading tips and stock recommendations, among others, to the investors on payment of fees.

According to Sebi, they collected over Rs 27.65 lakh as fees from investors between October 2013 and March 2016 through different categories of schemes
Besides, they have been barred from the securities markets "till the expiry of 4 years from the date of refund". Also,