Sebi cancels Capvision Investment's registration for misleading client

Capital markets regulator Sebi on Monday cancelled the registration of Capvision Investment Advisor for promising assured profit to clients in the securities market and misleading investors.

Capvision Investment Advisor was registered with Sebi as an Investment Adviser in June 2014. It is a partnership firm with partners Ravi Prakash Mishra and Rekha Mishra.

In its order, Sebi found that Capvision was engaged in "non-genuine and deceptive activity" of obtaining payments from clients to third-party bank accounts.

Further, Capvision has made representations to its clients, promising such assured returns and thus failed in its responsibility to act in a fiduciary capacity towards its clients. Accordingly, it has violated the code of conduct specified under the investment adviser (IA) rules.

Also, Sebi said that promising assured profit in the securities market amounts to misrepresentation and misleading investors. Such reckless conduct by Capvision intended to induce investors to dea