Sebi has barred two entities and three individuals from the securities market for providing unauthorised investment advisory services.
A2 Financial Services (A2FS) and its partners - Ashish Jain and Ashutosh Mishra - and Money Booster and its sole proprietor Anurag Singh have been barred from the securities market, as per two separate orders passed on Thursday.They have also been directed to refund the money collected from the investors, in respect of their unregistered investment advisory activities, within three months from the date of the orders.
In the two separate but similarly-worded orders, the regulator said the entities and individuals have been “debarred from accessing the securities market, directly or indirectly and are prohibited from buying, selling or otherwise dealing in the securities market, directly or indirectly in any manner whatsoever, for two years from the date of this order or till the expiry of two years from the date of completionof refunds to complainants investors as directed.., whichever is later”.