Sebi in action: Market regulator SEBI has canceled the registration of 19 Foreign Venture Capital Investors (FVCIS). This is because SEBI found in his investigation that they were not running from there, where the address was registered. Between 2013 and 2023, he stopped work on his registered address. His registered address was Mauritius, Singapore and Cyprus. Out of those who have taken action on SEBI, 6 have never filed a quarterly report and four have never filed a quarter report since FY 2013.
Sebi action taken on big names
SEBI has canceled the registration of 19 Foreign Venture Capital Investors (FVCIS) due to not operating from registered address. These include big names. These include Axis Capital Mauritius, Axis India Infrastructure Holdings, Blackstone Capital Partners (Singapore) VI FVCI and Blackstone Family Investment Partnership VI-ESC FVCI.
What came in the investigation?
The market regulator Securities and Exchange Board of India (SEBI) has passed an order related to it on 18 February. In this, the Chief General Manager of SEBI G. Ramar said that whatever facts are available, it has been revealed that no FVCI was doing FVCI activities and SEBI was not able to register with occasion. Necessary reports were filed. Sebi’s investigation revealed that he is not interested in working further as registered foreign venture capital investors. According to SEBI, when FVCI stopped work on its registered address, he did not inform SEBI. Out of the 14 entities which are available, 11 of the registered address had stopped work for more than five years, so three had stopped work.
Rules easy for research analyst and investment advisors, SEBI initiative
New rules brought to Sebi for disclosure related to approval of related party transactions, will be applicable from 1 April