Sebi has barred Alderbrooke Portfolio Management Services (APMS) and its directors from the capital market for five years for carrying out unauthorised business activities, and directed the company to refund money to investors. Alderbrooke and its two directors ? Anandkumar Kanubhai Ravat and Jalpeshkumar Amrutlal Makwana ? had indulged in portfolio management activities without obtaining requisite registration from Sebi and were offering financial products to clients with a promise of high returns, Sebi said.