SEBI said that it will have to return this money to its investors within 3 months.
Gaurav Yadav, owner of Capital Money Mantra, earned 65 lakh rupees by giving investment tips to people between October 2015 and July 2017. He will now have to return this money to your clients.
New Delhi. Markets regulator SEBI has banned financial consultancy firm Capital Money Mantra and its owner Gaurav Yadav for two years. According to the order of SEBI, Capital Money Mantra and its owners will no longer be able to enter the securities market for two years and will not be able to do any trading. Capital Money Mantra is accused of illegally giving investment tips to investors without taking permission.
SEBI has also ordered Capital Money Mantra to refund the fees collected for giving investment tips to its clients. SEBI said that this consultancy firm gave investment tips to people without registering with the regulator. Gaurav Yadav, owner of Capital Money Mantra, earned 65 lakh rupees by giving investment tips to people between October 2015 and July 2017. He will now have to return this money to your clients.
Investors’ money will have to be returned within three months
SEBI said that it will have to return this money to its investors within 3 months. Capital Money Mantra and its owners will not be able to do any trading for the next 2 years from the day the company will return the entire money to the investors. Also, they will not be able to do business with any listed company or intermediary.Franklin Templeton MF was also banned for two years
Recently, SEBI, taking a tough stand in the case of Franklin Templeton Mutual Fund, banned Franklin Templeton MF from launching new schemes for two years. Not only this, SEBI has also imposed a fine of Rs 5 crore. SEBI also directed that the investment management fee charged in all the six closed schemes of the company should also be refunded. According to the instructions of SEBI, from June 4, 2018 to April 23, 2020, the company will have to return this fee with 12 percent interest. SEBI bans Franklin Templeton Head, APAC Distribution Vivek Kudva and his wife Roopa Kudva from trading in the market for one year