Capital markets regulator Sebi has barred two individuals from the securities markets for two years and ordered them to return Rs 82.5 lakh collected from investors through unregistered investment advice services.

Also, they have been restrained from associating as directors or key managerial personnel with any listed public company for two years. Further, Sebi has imposed a fine of Rs 2 lakh each on them.

Those barred by Sebi are Chandrapratap Singh Naruka, proprietor of W Gain Research & Development.Com, and Amarjeet Singh Trehan.

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In its order passed on Tuesday, the regulator found that …