| S.No. |
PERSON |
ENTITY |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
ASHISH MOTI CHHUGANI
(PAN:AAFPC6557K)
(Along with : AASHWIN DUGAL,
RAHUL KISHOR VEERA,
PRASHANT KUTTY,
AASHRAY VASA,
JAI VIJAY DAXINI,
ALOK SURENDRANATH SINGH,
VIVEK DOSHI,
SHRUTI PAREKH)
|
|
|
|
NIPPON INDIA EVENT OPPORTUNITIES TRUST
PAN:AACTR9135K
|
|
|
NIPPON LIFE INDIA AIF MANAGEMENT LTD.
PAN:AABCR7663L
|
|
ALLEGED FAILURE IN MAINTAINING CONTINUING INTEREST PRO-RATA TO NET FUNDS RAISED FROM OTHER INVESTORS IN MATTER OF NIPPON INDIA EQUITY OPPORTUNITIES AIF
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.14,66,250 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
15-JUL-2026
|
|
| 22 |
|
|
BHASKAR MAJUMDAR
(PAN:AMPPM5466M)
(Along with : ANIL JOSHI)
|
|
|
|
UNICORN INDIA VENTURES DEBT FUND-I
PAN:AAATU8227H
|
|
|
UNICORN INDIA VENTURES SERVICES LLP
PAN:AAFFU1123P
|
|
ALLEGED TEMPORARY INVESTMENT IN ADITYA BIRLA SUN LIFE SAVINGS FUND REGULAR GROWTH PLAN WHICH WAS NOT CLASSIFIED AS LIQUID MUTUAL FUND AND DID NOT REPORT SEBI
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.25,50,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
04-MAY-2026
|
|
| 23 |
|
|
BINAY CHANDRA MANDAL
(PAN:AMFPM2093Q)
|
|
|
|
CINEMA CAPITAL ADVISORY PVT.LTD.
PAN:AADCC5601M
|
|
|
CINEMA CAPITAL CONTRIBUTORY CO.PVT.LTD.
PAN:AAECC3609A
|
|
DID NOT WIND UP SCHEME AND DISTRIBUTE PROCEEDS ACCRUING TO INVESTORS EVEN AFTER THE EXPIRY OF TENURE
DID NOT DISCLOSE INVESTMENT OBJECTIVE AND DID NOT ADHERE TO INVESTMENT RECTRICTIONS
EXTENDED LOANS AND ADVANCES TO INVESTEE COMPANIES AND ITS DIRECTORS AT NO INTEREST COST
EXTENDED LOANS AND ADVANCE TO TRUSTEE AND STAFF AT NO INTEREST COST
CHARGED EXCESS FEE FROM INVESTORS
DID NOT FILE QUARTERLY REPORTS TO SEBI
DID NOT REDRESS INVESTOR COMPLAINTS
MISMANAGEMENT OF INVESTOR’S FUNDS
|
DIRECTED TO FILE COMPLETE DETAILS OF SCHEME ALONGWITH DETAILS OF BANK ACCOUNTS PERTAINING TO THE SCHEME AND NOTICES, AMOUNT OF BALANCE AVAILABLE IN THOSE ACCOUNTS AND DETAILS OF ALL THE MOVABLE AND IMMOVABLE ASSETS PERTAINING TO THE SCHEME AND NOTICEE
DIRECTED TO ENSURE THAT THE SCHEME OF FUND WOUND UP BY PROVIDING EXIT TO ITS INVESTORS/UNIT HOLDERS
DIRECTED TO OBTAIN TWO SEPARATE VALUATIONS OF ALL REMAINING ASSETS OF SCHEME OF FUND FROM TWO INDEPENDENT AND/OR REGISTERED VALUERS
DIRECTED TO DETERMINE NAV OF THE SCHEME OF THE FUND BASED ON VALUATION REPORTS BY ADOPTING HIGHER OF VALUATION ARRIVED AT IN TWO VALUATION REPORTS
DIRECTED TO PROVIDE EXIT TO INVESTORS/UNIT HOLDERS FIRST BY OFFERING OPTION TO EXISTING INVESTORS/UNIT HOLDERS TO TAKE EXIT BY WAY OF IN SPECIE DISTRIBUTION OF INTEREST/RIGHTS/STAKES/SHARES, ETC. IN INVESTEE COMPANIES/PROJECTS
DIRECTED INVESTORS/UNIT HOLDERS WHO DO NOT EXERCISE THEIR OPTION FOR IN SPECIE DISTRIBUTION, TO BE GIVEN EXIT ON BASIS OF NAV DETERMINED AS PER DIRECTIONS
DIRECTED TO COMPLETE ENTIRE PROCESS OF WINDING UP OF SCHEME OF FUND AND PROVIDING EXIT TO INVESTORS/UNIT HOLDERS
DIRECTED TO FILE REPORT CERTIFIED BY CHARTERED ACCOUNTANT DECLARING THAT ALL THE INVESTORS OF SCHEME HAVE BEEN PROVIDED EXIT AND SCHEME OF FUND STANDS WOUND UP AND REPORT TO BE FILED WITHIN THREE WEEKS AFTER COMPLETION OF THE EXIT AND REPAYMENT TO INVESTORS/UNIT HOLDERS OF SCHEME
RESTRAINED FROM ASSOCIATING DIRECTLY OR INDIRECTLY, WITH ANY REGISTERED INTERMEDIARIES INCLUDING SEBI REGISTERED FUNDS SUCH AS MUTUAL FUNDS, ALTERNATIVE INVESTMENT FUNDS, PORTFOLIO MANAGEMENT SERVICES ETC. WHICH DEAL WITH INVESTOR’S MONEY IN ANY MANNER FROM 30-APR-2025 TO 29-APR-2028
IMPOSED PENALTY RS.1,00,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-APR-2025
|
SAT: SAT VIDE ITS ORDER DATED 09/06/2025 GRANTED THREE WEEKS TO FILE REPLY AND ONE WEEK TO FILE REJOINDER, IF ANY. STAYED DIRECTIONS AT PARAGRAPH 104.1 AND 104.6 SUBJECT TO DEPOSIT 50% PENALTY WITH RESPONDENT WITHIN THREE WEEKS FROM DATE OF THIS ORDER. SEBI CLARIFIED TO THE DEPOSITORIES THAT INDIVIDUAL ACCOUNTS OF NOTICEE NOS.5 AND 7 NEED NOT BE FROZEN
|
| 24 |
|
|
BINAY CHANDRA MANDAL
(PAN:AMFPM2093Q)
(Along with : SAMIR GUPTA,
URMILA GUPTA)
|
|
|
|
CINEMA CAPITAL CONTRIBUTORY CO.PVT.LTD.
PAN:AAECC3609A
|
|
DID NOT WIND UP SCHEME AND DISTRIBUTE PROCEEDS ACCRUING TO INVESTORS EVEN AFTER THE EXPIRY OF TENURE
DID NOT DISCLOSE INVESTMENT OBJECTIVE AND DID NOT ADHERE TO INVESTMENT RECTRICTIONS
EXTENDED LOANS AND ADVANCES TO INVESTEE COMPANIES AND ITS DIRECTORS AT NO INTEREST COST
EXTENDED LOANS AND ADVANCE TO TRUSTEE AND STAFF AT NO INTEREST COST
CHARGED EXCESS FEE FROM INVESTORS
DID NOT FILE QUARTERLY REPORTS TO SEBI
DID NOT REDRESS INVESTOR COMPLAINTS
MISMANAGEMENT OF INVESTOR’S FUNDS
|
IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS
30-APR-2025
|
SAT: SAT VIDE ITS ORDER DATED 09/06/2025 GRANTED THREE WEEKS TO FILE REPLY AND ONE WEEK TO FILE REJOINDER, IF ANY. STAYED DIRECTIONS AT PARAGRAPH 104.1 AND 104.6 SUBJECT TO DEPOSIT 50% PENALTY WITH RESPONDENT WITHIN THREE WEEKS FROM DATE OF THIS ORDER. SEBI CLARIFIED TO THE DEPOSITORIES THAT INDIVIDUAL ACCOUNTS OF NOTICEE NOS.5 AND 7 NEED NOT BE FROZEN
|
| 25 |
|
|
CHANDRASHEKAR SHEKAR
(PAN:BMTPS0481H)
(Along with : NAVEEN LOHIYA,
JAIRAM JANARDHANAN,
KIRTI CHOPRA)
|
|
|
|
IROHA EMERGING INDIA FUND
PAN:AACTI2000G
|
|
|
IROHA INVESTMENT MANAGEMENT PVT.LTD.
PAN:AAFCI2658Q
|
|
ALLEGED FAILURE TO ENSURE PROPER CARE AND DUE DILIGENCE IN COMPLYING WITH CONCENTRATION NORMS AND SUBMITTED INACCURATE INFORMATION TO THE TRUSTEE IN COMPLIANCE TEST REPORT VIOLATING REGULATIONS 20(1), 20(5) AND CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT READ WITH REGULATION 15(1)(D)OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF IROHA EMERGING INDIA FUND
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.29,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
01-JUL-2025
|
|
| 26 |
|
|
CHETAN DESAI
(PAN:AACPD5693G)
|
|
|
|
PENBROOK CAPITAL ADVISORS PVT.LTD.
PAN:AAGCP3459B
|
|
ALLEGED FAILURE IN CONTINUING INTEREST OF RS.5.0 CRORE IN FORM OF INVESTMENT AND EXTENSION OF TENURE OF FUND MORE THAN PERMISSIBLE PERIOD (4 YEARS + 1 YEAR) IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 7(1)(A) READ WITH SEBI CIRCULAR NO.CIR/IMD/DF/14/2014 DATED 19/06/2014
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.63,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
28-JAN-2022
|
|
| 27 |
|
|
CHRISTOPHER VINOD
(PAN:AAUPC3243M)
|
|
|
ALLEGED INVESTMENT IN MUTUAL FUNDS CATEGORIZED AS LARGE CAPITAL FUNDS
ALLEGED FAILURE IN MAKING DISCLOSURE TO INVESTORS THE LEVEL OF LEVERAGE ARISING FROM POSITION HELD IN FUTURES
ALLEGED DELAY IN OBTAINING SCORES LOGIN AND PASSWORD
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.49,40,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
01-AUG-2023
|
SEBI VIDE ITS ORDER DATED 18/12/2023 DISPOSED OF THE APPEAL AS THE SETTLEMENT AMOUNT OF RS.49.40 LAC HAS BEEN PAID AS PER THE SETTLEMENT ORDER DATED 01/08/2023 READ WITH ADDENDUM DATED 05/12/2023
|
| 28 |
|
|
DINESH S.KANODIA
(PAN:AEHPK9440F)
|
|
|
ALLEGED FAILURE TO COMPLY WITH REGULATIONS 15(1)(C) READ WITH 20(1) AND 20(5) READ WITH CLAUSE 2(A) OF CODE OF CONDUCT OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.16,08,750 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
29-APR-2024
|
|
| 29 |
|
|
DIVYA SINGHAL
(PAN:CYXPS5759M)
(Along with : NARESH CHAND GUPTA,
PRATEEK GUPTA,
RAMAN NAGPAL)
|
|
|
|
ACCURACAP PRIME OPPORTUNITIES FUND
PAN:AAGTA5589A
|
|
|
ACCURACAP TECHNOLOGIES LLP
PAN:AAAFQ3030E
|
|
ALLEGED FAILURE TO MAINTAIN MINIMUM CORPUS OF RS.20 CRORE IN MATTER OF ACCURACAP VECTRA FUND
ALLEGED FAILURE TO RESTORE CORPUS ABOVE RS.20 CRORE WITHIN THREE MONTHS FROM THE DATE OF SUCH BREACH IN MATTER OF ACCURACAP VECTRA FUND
ALLEGED FAILURE TO REDEEM THE UNITS AND WIND UP THE SCHEME DESPITE FAILURE TO RESTORE CORPUS WITHIN STIPULATED PERIOD IN MATTER OF ACCURACAP VECTRA FUND
ALLEGED EXCEEDING MAXIMUM PERMISSIBLE INVESTMENT LIMIT IN A SINGLE INVESTEE COMPANY IN MATTER OF ACCURACAP VECTRA FUND
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.21,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
17-MAR-2026
|
|
| 30 |
|
|
GAURAV AGGARWAL
(PAN:BHUPA5595E)
|
|
|
|
KOTAK ALTERNATE ASSET MANAGERS LTD.
PAN:AAACK5933H
|
|
|
KOTAK ALTERNATE ASSETS FUND III
PAN:AADTK5968J
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.7,87,500 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
30-JAN-2024
|
|
| 31 |
|
|
GAURAV SHARMA
(PAN:AYZPS1019G)
|
|
|
|
INVESTCORP INDIA ASSET MANAGERS PVT.LTD.
PAN:AAFCI0227D
|
|
|
INVESTCORP REAL ESTATE YIELD FUND
PAN:AABTI0798Q
|
|
ALLEGED DELAY IN LIQUIDATION AND DISTRIBUTION OF ASSETS OF THE FUND VIOLATING REGULATIONS 13(5) AND 29(7) READ WITH 20(1) AND 20(5) AND CLAUSES 2(A), 2(C) AND 3(B) OF CODE OF CONDUCT SPECIFIED IN FOURTH SCHEDULE OF (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF INVESTCORP REAL ESTATE YIELD FUND
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.25,50,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
07-MAR-2025
|
|
| 32 |
|
|
GOKULRAJ PONNURAJ
(PAN:AOWPG7071H)
|
|
|
ALLEGED NON COMPLIANCE OF SECTION 12(1) OF SEBI ACT, 1992 READ WITH REGULATION 3(1) OF SEBI (INVESTMENT ADVISORS) REGULATIONS, 2013 IN MATTER OF HBJ CAPITAL SERVICES LTD. LTD.
ALLEGED NON COMPLIANCE OF SECTION 12(1) OF SEBI ACT, 1992 READ WITH REGULATION 3 OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF HBJ CAPITAL SERVICES LTD. LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.86,06,250 VIDE CONSENT ORDER)
24-SEP-2019
|
|
| 33 |
|
|
GOVIND JHAWAR
(PAN:AAUPJ2894H)
|
|
|
|
FINIDEAS GROWTH FUND
PAN:AAATF9250H
|
|
|
FINIDEAS INVESTMENT ADVISOR PVT.LTD.
PAN:AAECF9909Q
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
04-APR-2025
|
|
| 34 |
|
|
GOVINDASAMY MARAN
(PAN:AGWPM7938H)
|
|
|
ALLEGED INVESTMENT IN MUTUAL FUNDS CATEGORIZED AS LARGE CAPITAL FUNDS
ALLEGED FAILURE IN MAKING DISCLOSURE TO INVESTORS THE LEVEL OF LEVERAGE ARISING FROM POSITION HELD IN FUTURES
ALLEGED DELAY IN OBTAINING SCORES LOGIN AND PASSWORD
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.49,40,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
01-AUG-2023
|
SEBI VIDE ITS ORDER DATED 18/12/2023 DISPOSED OF THE APPEAL AS THE SETTLEMENT AMOUNT OF RS.49.40 LAC HAS BEEN PAID AS PER THE SETTLEMENT ORDER DATED 01/08/2023 READ WITH ADDENDUM DATED 05/12/2023
|
| 35 |
|
|
HORMUZ ASPY BULSARA
(PAN:AAAPB5385R)
|
|
|
ALLEGED VIOLATION OF REGULATION 20(1) READ WITH CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT AS SPECIFIED IN FOURTH SCHEDULE OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
15-MAY-2024
|
|
| 36 |
|
|
JAI VIJAY DAXINI
(PAN:COBPD4307Q)
(Along with : ASHISH MOTI CHHUGANI,
AASHWIN DUGAL,
RAHUL KISHOR VEERA,
PRASHANT KUTTY,
AASHRAY VASA,
ALOK SURENDRANATH SINGH,
VIVEK DOSHI,
SHRUTI PAREKH)
|
|
|
|
NIPPON INDIA EVENT OPPORTUNITIES TRUST
PAN:AACTR9135K
|
|
|
NIPPON LIFE INDIA AIF MANAGEMENT LTD.
PAN:AABCR7663L
|
|
ALLEGED FAILURE IN MAINTAINING CONTINUING INTEREST PRO-RATA TO NET FUNDS RAISED FROM OTHER INVESTORS IN MATTER OF NIPPON INDIA EQUITY OPPORTUNITIES AIF
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.14,66,250 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
15-JUL-2026
|
|
| 37 |
|
|
JAIRAM JANARDHANAN
(PAN:AMRPJ9564D)
(Along with : NAVEEN LOHIYA,
KIRTI CHOPRA,
CHANDRASHEKAR SHEKAR)
|
|
|
|
IROHA EMERGING INDIA FUND
PAN:AACTI2000G
|
|
|
IROHA INVESTMENT MANAGEMENT PVT.LTD.
PAN:AAFCI2658Q
|
|
ALLEGED FAILURE TO ENSURE PROPER CARE AND DUE DILIGENCE IN COMPLYING WITH CONCENTRATION NORMS AND SUBMITTED INACCURATE INFORMATION TO THE TRUSTEE IN COMPLIANCE TEST REPORT VIOLATING REGULATIONS 20(1), 20(5) AND CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT READ WITH REGULATION 15(1)(D)OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF IROHA EMERGING INDIA FUND
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.29,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
01-JUL-2025
|
|
| 38 |
|
|
JAYESH RAMNIKLAL DESAI
(PAN:AAMPD4038P)
|
|
|
|
PIRAMAL INVESTMENT ADVISORY SERVICES PVT.LTD.
PAN:AAHCP2291G
|
|
ALLEGED VIOLATION OF REGULATIONS 10(D), 13, 27 (1) (D) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 AND SEBI MASTER CIRCULAR NO.CIR/ISD/AML/3/2010 DATED 31/12/2010 IN MATTER OF PIRAMAL INVESTMENT OPPORTUNITIES FUND
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.76,50,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
30-JUN-2021
|
|
| 39 |
|
|
JAYKISHAN KIKANI
(PAN:CCDPK1654H)
(Along with : VISHNU PRAKASH RATHORE,
ARPAN SARKAR)
|
|
|
|
ESSEL FINANCE ADVISORS & MANAGERS LLP
PAN:AABTI0088B
|
|
DID NOT WIND UP THE SCHEME EVEN AFTER COMPLETION OF EXTENDED TENURE AND CONTINUING THE SCHEME BEYOND PERMISSIBLE EXTENSIONS OF TWO YEARS
DID NOT MAKE DISCLOSURE OF PENDING MATTER WITH INCOME TAX DEPARTMENT
DID NOT MAKE DISCLOSURE OF DISCIPLINARY ACTION HISTORY AGAINST TRUSTEE OF THE FUND
PROVIDED VALUATION OF ASSETS INSTEAD OF SECURITIES HELD BY FUND
DID NOT OBTAIN REGISTRATION FROM FIU-IND
DID NOT COMMUNICATE DETAILS OF PRINCIPAL OFFICER AND DESIGNATED DIRECTOR
DID NOT MAKE DISCLOSURE OF INVESTOR CHARTER TO INVESTORS
DELAY IN FILING PRIVATE PLACEMENT MEMORANDUM (PPM) AUDIT REPORT
DID NOT ENSURE THAT PRIVATE PLACEMENT MEMORANDUM WAS IN SPECIFIED FORMAT
DID NOT MAKE DISCLOSURE OF DISTRIBUTION WATERFALL
DELAY IN APPOINTMENT OF BENCHMARKING AGENCY
DID NOT PROVIDE NECESSARY INFORMATION TO BENCHMARKING
DID NOT REDRESS INVESTOR COMPLAINTS IN STIPULATED TIME
|
IMPOSED PENALTY RS.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
20-JUN-2025
|
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER.
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED EXEMPTION APPLICATION
SAT: SAT VIDE ITS ORDER DATED 18/08/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 17/03/2026 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDERS DATED 20/06/2025 AND 03/07/2025. NO COSTS
|
| 40 |
|
|
JAYKISHAN KIKANI
(PAN:CCDPK1654H)
(Along with : VISHNU PRAKASH RATHORE,
ARPAN SARKAR)
|
|
|
|
ESSEL FINANCE ADVISORS & MANAGERS LLP
PAN:AABTI0088B
|
|
DID NOT ENSURE DRAWDOWN OF FULL COMMITTED AMOUNT FROM INVESTORS AND DID NOT TAKE ANY ACTION AGAINST SELECTED CLASS OF INVESTORS INCLUDING SPONSOR AND MANAGER AS PER PRIVATE PLACEMENT MEMORANDUM RESULT
INVESTED MORE THAN 25% OF INVESTIBLE FUNDS IN A SINGLE INVESTEE COMPANY
PROVIDED VALUATION OF ASSETS INSTEAD OF SECURITIES HELD BY FUND
DID NOT OBTAIN REGISTRATION FROM FIU-IND
DID NOT COMMUNICATE DETAILS OF PRINCIPAL OFFICER AND DESIGNATED DIRECTOR
DID NOT MAKE DISCLOSURE OF INVESTOR CHARTER TO INVESTORS
DELAY IN SUBMITTING PRIVATE PLACEMENT MEMORANDUM REPORT TO SEBI
DID NOT ENSURE THAT PRIVATE PLACEMENT MEMORANDUM WAS IN SPECIFIED FORMAT
DID NOT MAKE DISCLOSURE OF DISTRIBUTION WATERFALL
DELAY IN APPOINTMENT OF BENCHMARKING AGENCY
DID NOT PROVIDE NECESSARY INFORMATION TO BENCHMARKING
|
IMPOSED PENALTY RS.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
03-JUL-2025
|
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER.
SAT: SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED EXEMPTION APPLICATION
SAT: SAT VIDE ITS ORDER DATED 18/08/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER
SAT: SAT VIDE ITS ORDER DATED 17/03/2026 ALLOWED THE APPEAL AND SET ASIDE IMPUGNED ORDERS DATED 20/06/2025 AND 03/07/2025. NO COSTS
|
| The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column. |
| |
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| Page 2 of 6
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