Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs6 lakh on Scient Capital Pvt Ltd, a registered portfolio manager, for multiple violations under the SEBI Portfolio Managers Regulations, 2020 and related guidelines. The company has also been prohibited from onboarding new clients or accepting additional funds or securities from existing clients until it meets the required net-worth threshold and submits a certificate from a peer-reviewed chartered accountant (CA). SEBI conducted an examination of Scient Capital since 9 June 2016. The investigation revealed that the company failed to maintain the minimum net worth of Rs5 crore required under the PM Regulations. The company also failed to submit accurate compliance reports as mandat

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