Money Control
Capital markets regulator Sebi has barred an individual from the securities markets for a period of five years as well as slapped a fine of Rs 30 lakh for flouting regulatory norms. Besides, the regulator restrained Mohit Manghnani (proprietor of Wealthit Global) from associating himself as a director or key managerial personnel with any listed public company or any Sebi-registered intermediary for a period of five years.
Sebi also directed Manghnani to resolve all complaints received through the regulator’s SCORES portal within a period of three months. The order came after the markets watchdog had passed an ex parte order against Manghnani and the latter approached the Securities Appellate Tribunal (SAT), which remanded the matter back to Sebi and directed the regulator to pass a fresh order.
