Sebi restrains GoCapital, proprietor from acting as advisers

Markets regulator Sebi today prohibited GoCapital and its proprietor Ankitkumar Shashikant Singhania from acting as investment adviser after they provided unauthorised investment tips to investors.
GoCapital and Singhania were providing investment advisory services to clients for consideration without registration with Sebi and thereby violated Sebi's Investment Advisers Regulations.
They were giving trading tips, stock recommendations, among others to the investors on payment of fees.
Further, Sebi said the entities have "solicited and induced investors to deal in securities on the basis of their investment advices, stock trade tips, etc guaranteeing returns on their website".
"In view of this, it is apprehended that investors at large could be misled on account of such unauthorised activities of such unregistered entities," it added.

Accordingly, Sebi has directed the entities "to cease and desist from acting as investment adviser and cease to solicit or undertake such activities or any other registered activities in the securities market, directly or indirectly in any manner whatsoever."
Besides, Sebi has directed them to immediately withdraw and remove all advertisements, representations etc in relation to their investment advisory or any unregistered activity in the securities markets.