| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 41 |
|
INDGROWTH CAPITAL ADVISORS LLP
|
|
|
EXCEEDED LIMIT OF 10% BY INVESTING INR 44.99 CRORE OF ITS INVESTABLE FUNDS I.E. MORE THAN INR 43.41 CRORE IN URGO CAPITAL AND REPORTED INCORRECT AMOUNT OF INVESTABLE FUND TO SEBI VIOLATING REGULATION 15(1)(D) READ WITH REGULATION 20(5) AND 24(B) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 READ WITH SEBI CIRCULAR NO.CIR/MD/DF/10/2013 DATED 29/07/2013 READ WITH SEBI CIRCULAR NO SEBI/HO/IMD/DF1/CIR/P/2017/87 DATED 31/07/2017 IN MATTER OF INDGROWTH CAPITAL FUND I
|
IMPOSED PENALTY RS.10,00,000
27-JUN-2022
|
|
| 42 |
|
|
INDIA ASSET GROWTH FUND
(PAN:AADTA8272H)
|
|
|
|
ARPAN SARKAR
PAN:BLMPS9641B
|
|
|
JAYKISHAN KIKANI
PAN:CCDPK1654H
|
|
|
VISHNU PRAKASH RATHORE
PAN:AIIPR619C
|
|
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.11,00,000
20-JUN-2025
|
|
| 43 |
|
|
INDIA INFRASTRUCTURE FUND II
(PAN:AABTI0624H)
|
|
|
PLEDGED SECURITIES OF PORTFOLIO COMPANIES FOR LOANS AVAILED OF BY PORTFOLIO COMPANIES ENGAGED IN LEVERAGE VIOLATING REGULATIONS 16(1)(C) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF INDIA INFRASTRUCTURE FUND II
DID NOT OPERATE AND MANAGE IN THE INTEREST OF INVESTORS VIOLATING CLAUSE 1(B) OF CODE OF CONDUCT READ WITH REGULATION 20(1) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 IN MATTER OF INDIA INFRASTRUCTURE FUND II
|
WARNED/DIRECTED TO BE MORE CAREFUL WHILE DEALING WITH SECURITIES MARKET
DIRECTED TO MODIFY TERMS OF ITS TRUST DEED WHICH ARE INCONSISTENT WITH PROVISIONS OF ALTERNATE INVESTMENT FUNDS REGULATIONS AND CIRCULARS ISSUED THEREUNDER AND SUBMIT DULY MODIFIED TRUST DEED TO SEBI, ALTERNATIVE INVESTMENT FUND AND FOREIGN PORTFOLIO INVESTORS DEPARTMENT
31-MAY-2023
|
|
| 44 |
|
|
INDIA QUOTIENT ADVISERS LLP
(PAN:AADFI8263Q)
|
|
|
DID NOT MAINTAIN CONTINUING INTEREST OF SPONSOR OF RS.2.5 CRORE IN IQ OPPORTUNITIES FUND
DID NOT OBTAIN PRIOR APPROVAL FROM 75% OF INVESTORS BEFORE MAKING INVESTMENTS IN ASSOCIATE FCL
|
IMPOSED PENALTY RS.2,50,000
28-DEC-2022
|
|
| 45 |
|
|
INVESTCORP INDIA ASSET MANAGERS PVT.LTD.
(PAN:AAFCI0227D)
|
|
|
|
AJAY KUMAR
PAN:APLPK8439D
|
|
|
GAURAV SHARMA
PAN:AYZPS1019G
|
|
|
NIRAJ SIRSALEWAL
PAN:AAJPS5097A
|
|
|
RITESH VOHRA
PAN:ABBPV4200D
|
|
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
|
|
| 46 |
|
|
INVESTCORP REAL ESTATE YIELD FUND
(PAN:AABTI0798Q)
|
|
|
|
AJAY KUMAR
PAN:APLPK8439D
|
|
|
GAURAV SHARMA
PAN:AYZPS1019G
|
|
|
NIRAJ SIRSALEWAL
PAN:AAJPS5097A
|
|
|
RITESH VOHRA
PAN:ABBPV4200D
|
|
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
|
|
| 47 |
|
|
INVESTMAXIMA ADVISORS LLP
(Along with : INVESTMAXIMA TRUST)
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
IMPOSED PENALTY RS.2,00,000
30-NOV-2022
|
SEBI VIDE ITS NOTICE DATED 05/04/2024 DIRECTED TO PAY RS.2,37,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 06/05/2024 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL TO 1. ATTACH ALL THE ACCOUNTS BY WHATEVER NAME CALLED INCLUDING LOCKERS, DEMAT ACCOUNTS AND MUTUAL FUNDS FOLIOS EITHER SINGLY OR JOINTLY WITH ANY PERSON/S AND ALL OTHER AMOUNT/PROCEEDS DUE OR MAY BECOME DUE OR ANY MONEY HELD OR MAY SUBSEQUENTLY HOLD FOR ON ACCOUNT OF THE DEFAULTERS AND 2. NOT TO DEBIT ANY AMOUNT IN THE SAID ACCOUNT/S.HOWEVER CREDITS, IF ANY, INTO THE ACCOUNT MAY BE ALLOWED
|
| 48 |
|
|
INVESTMAXIMA TRUST
(Along with : INVESTMAXIMA ADVISORS LLP)
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
IMPOSED PENALTY RS.2,00,000
30-NOV-2022
|
|
| 49 |
|
|
INVESTMAXIMA TRUST
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND
16-FEB-2024
|
|
| 50 |
|
|
IREO ADVANTAGE FUND I
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND
16-FEB-2024
|
|
| 51 |
|
|
IREO INVESTMENT ADVISORS PVT.LTD.
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
IMPOSED PENALTY RS.1,00,000
30-SEP-2022
|
|
| 52 |
|
|
KARVY CAPITAL ALTERNATIVE INVESTMENT TRUST
(PAN:AACTK1328H)
|
|
|
DID NOT SATISFY ‘FIT AND PROPER PERSON’ CRITERIA FOR GRANT OF REGISTRATION AS ALTERNATIVE INVESTMENT FUNDS VIOLATING REGULATIONS 4(F),7(1)(A) AND 35 OF SEBI (ALTERNATE INVESTMENT FUNDS) REGULATIONS, 2012 READ WITH REGULATION 9, CLAUSES 2, 3, 6 AND 7 OF SCHEDULE II OF SEBI (INTERMEDIARIES) REGULATIONS, 2008
|
CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND
25-MAR-2025
|
|
| 53 |
|
|
KCAP ALTERNATIVE INVESTMENT FUND
(PAN:AADTK7212M)
|
|
|
DID NOT SATISFY ‘FIT AND PROPER PERSON’ CRITERIA FOR GRANT OF REGISTRATION AS ALTERNATIVE INVESTMENT FUNDS VIOLATING REGULATIONS 4(F),7(1)(A) AND 35 OF SEBI (ALTERNATE INVESTMENT FUNDS) REGULATIONS, 2012 READ WITH REGULATION 9, CLAUSES 2, 3, 6 AND 7 OF SCHEDULE II OF SEBI (INTERMEDIARIES) REGULATIONS, 2008
|
CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND
25-MAR-2025
|
|
| 54 |
|
|
KELLYGAMMA ADVISORS LLP
(PAN:AAOFK7796F)
|
|
|
|
SHARVIL PARIKH
PAN:AMNPP9971C
|
|
INVESTED UN-INVESTED PORTION OF INVESTIBLE FUNDS IN LOW DURATION FUNDS INSTEAD OF LIQUID FUNDS
INVESTED MORE THAN 10% OF TOTAL INVESTIBLE FUNDS COLLECTED FROM INVESTORS IN A SINGLE INVESTEE COMPANY
DID NOT COMPUTE AND COMMUNICATE NAV TO INVESTORS
DID NOT FILE QUARTERLY REPORTS TO SEBI
SUBMITTED INCORRECT INFORMATION IN COMPLIANCE TEST REPORT (CTR)
|
IMPOSED PENALTY RS.1,00,000
28-FEB-2025
|
|
| 55 |
|
|
KELLYGAMMA FUND
(PAN:AACTK7280Q)
|
|
|
|
SHARVIL PARIKH
PAN:AMNPP9971C
|
|
INVESTED UN-INVESTED PORTION OF INVESTIBLE FUNDS IN LOW DURATION FUNDS INSTEAD OF LIQUID FUNDS
INVESTED MORE THAN 10% OF TOTAL INVESTIBLE FUNDS COLLECTED FROM INVESTORS IN A SINGLE INVESTEE COMPANY
DID NOT COMPUTE AND COMMUNICATE NAV TO INVESTORS
DID NOT FILE QUARTERLY REPORTS TO SEBI
SUBMITTED INCORRECT INFORMATION IN COMPLIANCE TEST REPORT (CTR)
|
IMPOSED PENALTY RS.5,00,000
28-FEB-2025
|
|
| 56 |
|
|
KOTAK ALTERNATE ASSET MANAGERS LTD.
(PAN:AAACK5933H)
|
|
|
DID NOT WINDUP SCHEME UPON COMPLETION OF TENURE AS DISCLOSED IN ORIGINAL PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 23(1)(A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 READ WITH REGULATION 39 OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
21-FEB-2024
|
SAT: SAT VIDE ITS ORDER DATED 25/04/2024ALLOWED SEBI THREE WEEKS TO FILE REPLY AND APPELLANTS TO FILE REJOINDER THREE WEEKS THEREAFTER
|
| 57 |
|
|
KOTAK ALTERNATE ASSET MANAGERS LTD.
(PAN:AAACK5933H)
|
|
|
|
GAURAV AGGARWAL
PAN:BHUPA5595E
|
|
|
PARAG SUKHIJA
PAN:DDDPS8579F
|
|
|
SHOBHIT MATHUR
PAN:ANRPM0696C
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY FOR INDIAN RAILWAY FINANCIAL CORP.LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.7,87,500 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
30-JAN-2024
|
|
| 58 |
|
|
KOTAK ALTERNATE ASSETS FUND III
(PAN:AADTK5968J)
|
|
|
|
GAURAV AGGARWAL
PAN:BHUPA5595E
|
|
|
PARAG SUKHIJA
PAN:DDDPS8579F
|
|
|
SHOBHIT MATHUR
PAN:ANRPM0696C
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY FOR INDIAN RAILWAY FINANCIAL CORP.LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.7,87,500 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
30-JAN-2024
|
|
| 59 |
|
|
KOTAK MAHINDRA TRUSTEESHIP SERVICES LTD.
(PAN:AABCK4227B)
|
|
|
DID NOT WINDUP SCHEME UPON COMPLETION OF TENURE AS DISCLOSED IN ORIGINAL PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 23(1)(A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 READ WITH REGULATION 39 OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
21-FEB-2024
|
SAT: SAT VIDE ITS ORDER DATED 25/04/2024ALLOWED SEBI THREE WEEKS TO FILE REPLY AND APPELLANTS TO FILE REJOINDER THREE WEEKS THEREAFTER
|
| 60 |
|
|
KOTAK SEAF INDIA FUND
(PAN:AAATK8360K)
|
|
|
DID NOT WINDUP SCHEME UPON COMPLETION OF TENURE AS DISCLOSED IN ORIGINAL PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 23(1)(A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 READ WITH REGULATION 39 OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
IMPOSED PENALTY RS.3,00,000 ALONG WITH OTHER ENTITIES/PERSONS
21-FEB-2024
|
SAT: SAT VIDE ITS ORDER DATED 25/04/2024ALLOWED SEBI THREE WEEKS TO FILE REPLY AND APPELLANTS TO FILE REJOINDER THREE WEEKS THEREAFTER
|
| 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 3 of 5
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