Sebi bans Max Capital, proprietor from acting as investment advisors

Markets regulator Sebi has restrained Max Capital and its proprietor Mahesh Tillore from carrying out investment advisory services after finding them providing unauthorised trading tips and stock recommendations to investors.

In addition, the entities have been barred from the capital markets until further orders.

The Securities and Exchange Board of India (Sebi) found that Max Capital is not registered with the regulator to provide investment advisory services.

However, Max Capital on its website claimed to offer investment advice related to investing in, purchasing and selling of securities, as well as offering various services packages for subscription to avail its services, it added.

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