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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO SUBMIT COMPLIANCE REPORT TO SEBI

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person KOTAK MAHINDRA ASSET MANAGEMENT CO.LTD.

(PAN:AAACZ1086G)  
  DID NOT PAY FULL PROCEEDS BASED ON DECLARED NET ASSET VALUE (NAV) AS ON RESPECTIVE MATURITY DATES VIOLATING REGULATIONS 10(A), 25(16), 25(19) & 47 AND CLAUSE 9 OF FIFTH SCHEDULE READ WITH PRINCIPLES OF FAIR VALUATION AS PRESCRIBED UNDER EIGHTH SCHEDULE OF SEBI (MUTUAL FUNDS) REGULATIONS, 1996

DID NOT ADHERE TO VARIOUS SEBI CIRCULARS  		DIRECTED TO REFUND A PART OF INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED FROM UNITHOLDERS ALONG WITH SIMPLE INTEREST @15% P.A. FROM DATE OF MATURITY

DIRECTED TO SUBMIT COMPLIANCE REPORT TO SEBI

DIRECTED NOT TO LAUNCH ANY NEW SCHEMES FROM 27-AUG-2021 TO 26-FEB-2022

IMPOSED PENALTY RS.50,00,000

27-AUG-2021 		SAT: SAT VIDE ITS ORDER DATED 21/10/2021 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. IN THE MEANWHILE, DIRECTION TO REFUND A PART OF THE INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED BY APPELLANT FROM UNIT HOLDERS TO REMAIN STAYED. DIRECTED APPELLANT TO DEPOSIT RS.20 LAC TO RESPONDENT AS PER IMPUGNED ORDER WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 17/02/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 05/04/2022 ALLOWED APPELLANT TO FILE REJOINDER WITHIN THREE WEEKS

SAT: SAT VIDE ITS ORDER DATED 01/12/2022 ALLOWED APPELLANT FURTHER THREE WEEKS TO FILE REJOINDER
2 
History of entity/person MAGIC MANTRA

(PAN:BTOPA3202N)  
History of entity/person VENKATESH NAGARAJU ARAVIND

(PAN:BTOPA3202N)
  		ACTED AS INVESTMENT ADVISER WITHOUT SEBI REGISTRATION  DIRECTED TO REFUND MONEY TO THE INVESTORS

DIRECTED TO ISSUE PUBLIC NOTICE, IN ALL EDITIONS OF TWO NATIONAL DAILIES IN CONNECTION WITH THE REFUND OF MONEY

DIRECTED TO MAKE REFUND THROUGH BANKING CHANNELS SUCH AS DEMAND DRAFT AND/OR PAY ORDER AND/OR ELECTRONIC MODE OF TRANSFER

DIRECTED TO OPEN ESCROW ACCOUNT WITH A SCHEDULED BANK AND DEPOSIT THE AMOUNT AND USE ONLY FOR THE PURPOSE OF REFUND TO CLIENTS/INVESTORS

DIRECTED BANKS TO ALLOW DEBIT FOR THE PURPOSE OF TRANSFERRING FUNDS TO ESCROW ACCOUNT

RESTRAINED FROM SELLING ASSETS, PROPERTIES AND HOLDING OF MUTUAL FUNDS/SHARES/SECURITIES HELD IN DEMAT AND PHYSICAL FORM

DIRECTED TO SUBMIT COMPLIANCE REPORT TO SEBI

DIRECTED TO DEPOSIT REMAINING BALANCE AMOUNT WITH SEBI TO BE KEPT IN ESCROW ACCOUNT

DIRECTED TO SUBMIT COMPLETION REPORT OF REPAYMENT TO SEBI CERTIFIED BY INDEPENDENT CHARTERED ACCOUNTANT

DEBARRED / RESTRAINED FROM ASSOCIATING WITH / ACCESSING CAPITAL MARKET / INTERMEDIARIES FROM 24-AUG-2023 TO 23-AUG-2024

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 24-AUG-2023 TO 23-AUG-2024

RESTRAINED FROM ASSOCIATING WITH ANY LISTED PUBLIC COMPANY AND ANY PUBLIC COMPANY WHICH INTENDS TO RAISE MONEY FROM PUBLIC FROM 24-AUG-2023 TO 23-AUG-2024

IMPOSED PENALTY RS.5,00,000 ALONG WITH OTHER ENTITIES/PERSONS

24-AUG-2023
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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