Fee defaults push Sebi to pull the plug on 8 investment advisers

Securities and Exchange Board of India has canceled the registrations of eight investment advisers for failing to pay fees. The affected firms include Karvy Investment Advisory Services, IDFC Alternatives, and six others. Non-payment of renewal fees dates back to December 2018 for certain firms and continues for others. Registered investment advisers are required to pay renewal fees every five years to maintain validity.