India, July 23 -- Markets regulator Sebi has cancelled the registration certificates of 34 investment advisers after they failed to pay the mandatory renewal fees. Under the Sebi (Investment Advisers) Regulations, 2013, registered investment advisers are required to pay a renewal fee every five years to keep their registration valid.

Sebi found that the 34 advisers had failed to pay the renewal fees within the stipulated period.

The regulator issued notices to these entities in June, asking them to explain why their registrations should not be suspended or cancelled. However, no replies were received within the prescribed time.

In its order dated July 21, Sebi said the registrations had ceased to remain in force due to non-payment of r...