Sebi cancels registration of 11 research analysts for non-payment of renewal fee

SEBI has cancelled the registration of 11 research analysts, including 24 Carat Financial Services, Bansal Finstock, and Lakshmishree Investment and Securities, for failing to pay the mandatory five-year renewal fee. The dues had piled up between March 2020 and October 2025, and the entities did not respond to notices issued in February, May, and June 2025. The regulator clarified the cancelled entities remain liable for any past misconduct as research analysts.