Fee defaults push Sebi to pull the plug on 8 investment advisers

Mumbai: The Securities and Exchange Board of India (Sebi) has cancelled the registration certificates of eight investment advisers, including Karvy Investment Advisory Services and IDFC Alternatives, for failing to pay mandatory renewal fees.

The other entities whose registrations have been cancelled are Sagacis Investment Advisor, Tathastu Investment Adviser, Quant Capital, Arkanis Capital, Ira Wealth Advisor and Indianivesh Investment Managers.

Under Sebi rules, registered investment advisers are required to pay renewal fees every five years to keep their registrations valid.


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The regulator found that the eight entities had failed to pay the fees, with the defaults dating back to December 2018 in the case of Tathastu Investment Adviser.

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The renewal fees of Karvy Investment Advisory Services, Sagacis Investment Advisor, Arkanis Capital and IDFC Alternatives have remained unpaid since 2019.

Quant Capital and Indianivesh Investment Managers have not paid their fees since 2021, while Ira Wealth Advisor's renewal has been pending since May 2024. - Our Bureau