https://www.taxtmi.com/caselaws?id=472295 Unregistered investment advisory services are prohibited under the SEBI Act and the Investment Advisers Regulations. Where advisory services were admittedly provided without registration, the activity was unlawful and fees collected through it were refundable to all affected clients. The refund obligation was not limited to investors who had submitted individual complaints, as the unlawfulness attached to the unregistered activity and the fees collected from every client through that activity. en-us Mon, 23 Jan 2023 00:00:00 +0530 Wed, 07 Oct 2026 18:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472295 Unregistered investment advisory services are prohibited under the SEBI Act and the Investment Advisers Regulations. Where advisory services were admittedly provided without registration, the activity was unlawful and fees collected through it were refundable to all affected clients. The refund obligation was not limited to investors who had submitted individual complaints, as the unlawfulness attached to the unregistered activity and the fees collected from every client through that activity. Case-Laws SEBI Mon, 23 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472295