Market regulator Securities and Exchange Board of India (SEBI) has barred 4W Wealth Management Pvt Ltd and the firm’s directors Bhavesh P Bhensdadia, Rinkalkumar Mohanbhai Chopda, Vivek Laxmanbhai Patel, Nileshbhai Chandubhai Patel and Parth Kanubhai Patel (noticees) from markets for two years for operating illegal investment advisory and misleading stock advises. The illegal advisory is also asked to refund Rs12.83 crore collected as fees from its investor clients.