(Anjali Shreya, Intern Journalist): Indian market regulator SEBI has banned the advisory services of Max Capital and its proprietor Mahesh Tilore. It is alleged that they were giving unauthorized trading tips and advice to investors.
Also, both the units have been banned from working in the capital market till further orders. The Securities and Exchange Board of India, SEBI has found that Max Capital is not registered to offer investment advice.
Max Capital had given investment advice on its website. Apart from the advice, it also included the buying and selling of shares. In addition, the firm was also providing subscription packages based on different services.
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