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Capital markets regulator Sebi has cancelled the registrations of 10 research analysts for failing to pay the mandatory renewal fee required to keep their certificates of registration in force. The action was taken under Sebi's Intermediaries Regulations, 2008, after the entities failed to renew their registrations despite being issued notices. The entities whose registrations have been cancelled include Imtiaz Rehman Merchant, Praveen Pathiyil, InGovern Research Services Pvt Ltd, Affluence Fincon Service Pvt Ltd, Priya Clyde Andrades and Praful Bohra, Sebi said in the order passed on Tuesday. Under Sebi norms, a registered research analyst is required to pay the renewal fee every five years from the date of registration to keep the certificate valid. However, the markets watchdog found that the 10 entities failed to pay the fees after their respective due dates, which ranged from July 2020 to December 2025. The Securities and Exchange Board of India (Sebi) had issued notices to t