Now Reading: SEBI cancels registrations of 8 investment advisers over fee defaults
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SEBI cancels registrations of 8 investment advisers over fee defaults
The Story in Brief
The Securities and Exchange Board of India (SEBI) has cancelled the registrations of eight investment advisers, including Karvy Investment Advisory Services Ltd and IDFC Alternatives Ltd, for failing to pay mandatory renewal fees. The other entities affected are Sagacis Investment Advisor, Tathastu Investment Adviser, Quant Capital, Arkanis Capital, IRA Wealth Advisor and Indianivesh Investment Managers.
Under SEBI regulations, registered advisers must pay renewal fees every five years. SEBI found that all eight had failed to comply, with defaults dating back to December 2018 for Tathastu and continuing until May 2024 for IRA Wealth. Six entities did not respond to notices, while IDFC Alternatives and Indianivesh requested cancellation. SEBI said the action aims to prevent misuse of expired certificates by unaware investors.
SEBI clarified the cancellations do not absolve the entities of past liabilities. They must preserve records, address investor grievances and ensure continuity of client services. The order does not establish investment fraud or misappropriation of client funds.
Indian Opinion Analysis
All three outlets report the same facts from SEBI's order, naming the eight entities and the unpaid renewal fees. CNBC-TV18 leads with the regulatory rationale to prevent misuse of expired certificates, while Business Today adds the specific dates of default for firms like Karvy (unpaid since July 2019) and clarifies the cancellations do not bar other businesses under the same brands. Economic Times notes the default range, from December 2018 for Tathastu to May 2024 for Ira Wealth. The uniform coverage is neutral straight reporting, the variations are in the level of detail on timelines and investor implications. The common thread is the ongoing liability of the firms for past advisory activities, as SEBI stated.
Coverage: 3 sources, 3 neutral
Sources (3): cnbctv18.com (neutral report), businesstoday.in (neutral report), economictimes.indiatimes.com (neutral report)
This brief was synthesised by AI from the 3 sources linked above, so one read covers every framing they carry. Methodology and corrections.
Update, 5 November 2026: this story now draws on 3 sources.
