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 NOT TO TAKE NEW ASSIGNMENTS AS TRUSTEE OF ALTERNATIVE INVESTMENT FUND OF ANY CATEGORY

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

MILESTONE TRUSTEESHIP SERVICES PVT.LTD.

(PAN:AAFCM6451M)

DID NOT HAVE CONTINUING INTEREST IN BRICK EAGLE TRUST

DID NOT ACHIEVE SECOND CLOSING AND FINAL CLOSING IN TERMS PRIVATE PLACEMENT MEMORANDUM (PPM)

DID NOT OBTAIN APPROVAL FROM INVESTORS BEFORE MAKING INVESTMENTS IN ASSOCIATE COMPANIES OF ITS SPONSOR

INVESTED UN-INVESTED PORTION OF INVESTIBLE FUNDS IN LOW DURATION FUNDS INSTEAD OF LIQUID FUNDS

DID NOT INTIMATE CHANGES IN DESIGNATED PARTNERS OF THE SPONSOR/MANAGER TO SEBI

DID NOT DISCLOSE INFORMATION SUCH AS FINANCIAL, RISK MANAGEMENT, OPERATIONAL, PORTFOLIO AND TRANSACTIONAL INFORMATION REGARDING INVESTMENTS TO ITS INVESTORS

DID NOT DISCLOSE INFORMATION SUCH AS FINANCIAL INFORMATION OF ITS INVESTEE COMPANIES, MANAGEMENT OF MATERIAL RISKS TO ITS INVESTORS

DID NOT MAINTAIN DATED AND SIGNED RATIONALE FOR THE INVESTMENTS MADE AND ALSO FAILED TO MAINTAIN HIGH STANDARDS OF INTEGRITY AND FAIRNESS IN ALL THEIR DEALINGS

DID NOT MAINTAIN HIGH STANDARDS OF INTEGRITY AND FAIRNESS IN ALL THEIR DEALINGS AND IN THE CONDUCT OF BUSINESS AND DID NOT RENDER HIGH STANDARD OF SERVICE AND EXERCISE DUE DILIGENCE

DID NOT UNDERTAKE VALUATION OF INVESTMENTS FOR PERIOD FROM 21/12/2018 AND 25/08/2020

DID NOT UPLOAD KYC INFORMATION OF ITS CLIENTS IN THE KRA AND DID NOT CARRY OUT IN-PERSON VERIFICATION OF CLIENTS

DID NOT MAINTAIN ANTI MONEY LAUNDERING POLICY AND DID NOT APPOINT PRINCIPAL OFFICER AND DESIGNATED DIRECTOR

DID NOT SUBMIT COMPLIANCE TEST REPORT TO TRUSTEE WITHIN THIRTY DAYS FROM THE END OF F.Y. 2019-20

DID NOT CARRY OUT ANNUAL AUDIT OF COMPLIANCE FOR F.Y. 2020-21

DID NOT ACT IN BEST INTEREST OF ALL INVESTORS FOR CONDUCT OF BUSINESS AND PROVIDING PREFERENTIAL TREATMENT TO CERTAIN INVESTORS BY FAILING TO DRAWDOWN REQUISITE AMOUNTS IN LINE WITH CONTRIBUTION AGREEMENTS FROM TWO INVESTORS

DIRECTED TO ENSURE THAT THE SCHEME OF FUND WOUND UP BY PROVIDING EXIT TO ITS 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

DIRECTED NOT TO TAKE NEW ASSIGNMENTS AS TRUSTEE OF ALTERNATIVE INVESTMENT FUND OF ANY CATEGORY

28-FEB-2024

SAT: SAT VIDE ITS ORDER DATED 13/03/2024 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER

VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)

DID NOT WINDUP SCHEME OF FUND ON EXPIRY OF TENURE/TERM

DID NOT MAINTAIN BOOKS OF ACCOUNT AND OTHER DOCUMENTS

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT SUBMIT REPORT TO SEBI

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

DIRECTED NOT TO TAKE NEW ASSIGNMENTS AS TRUSTEE OF ALTERNATIVE INVESTMENT FUND OF ANY CATEGORY

24-APR-2023

SAT: SAT VIDE ITS ORDER DATED 05/07/2023 DIRECTED RESPONDENT TO FILE REPLY WITHIN THREE WEEKS AND REJOINDER TO BE FILED WITHIN THREE WEEKS THEREAFTER. STAYED THE DIRECTIONS GIVEN IN PARAGRAPH 53 (V, VI, VII AND VIII)

SAT: SAT VIDE ITS ORDER DATED 05/09/2023 CONDONED THE DELAY IN FILING OF APPEAL AND ALLOWED APPELLANTS THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 19/12/2023 CONDONED THE DELAY IN FILING OF APPEAL AND REPLY TAKEN ON RECORD

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

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

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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 ADSUPDATED TILL : 21-NOV-2024

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DISCLAIMER BY NSE

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