Market regulator Securities and Exchange Board of India (SEBI) has cancelled the registration certificate of Anugrah Stock and Broking Pvt Ltd (Anugrah/ ASBPL) for indulging in unregistered portfolio management services (PMS) activities
In addition, Sebi has levied a penalty totaling ₹8 crore on Anugrah Stock, its directors and the associate entity and the fine needs to be paid within 45 days.