Partner held jointly and severally liable for firm's unregistered advisory activity; directed to refund INR 2,23,404.10 or deposit under Section 28A

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....The Board finds that the Noticee was a partner of the Firm for the period 15 Jan 2016-15 Mar 2016 and, as a partner in a general partnership, is jointly and severally liable for the Firm's unregistered investment advisory activities in violation of applicable SEBI provisions. The Noticee is directed to refund INR 2,23,404.10 jointly and severally with the Firm and its partners; recovery proceedings remain pending, and earlier recovery against the Noticee was stayed by SAT remand. As an alternative to refund, the Noticee's liability shall be discharged upon deposit of the said amount with SEBI. No further debarment is imposed. Non-compliance may invite proceedings under section 28A after three months. The Order is effective immediately.....