Illegal Financial Advisory: SEBI Officials Collects Proof From Deleted Website Archives, Imposes Penalty Of Rs. 6 Lakh

The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹6 lakh on officials of an illegal financial advisory firm for violating regulatory norms. The firm had been operating without proper registration and providing unauthorized financial advice. SEBI’s investigation revealed that the firm had attempted to cover its tracks by deleting evidence from website archives. SEBI used archived data to substantiate the violations and ensure accountability. The penalty aims to deter similar practices and reinforce compliance with financial regulations. This action underscores SEBI's commitment to maintaining market integrity and protecting investors from fraudulent activities.