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SOURCE OF INFORMATION

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 : 02-MAR-2026

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: VIOLATED SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person CINEMA CAPITAL ADVISORY PVT.LTD.

(PAN:AADCC5601M)  
Click here to view complete history of this specific entity/person BINAY CHANDRA MANDAL

PAN:AMFPM2093Q
Click here to view complete history of this specific entity/person SAMIR GUPTA

PAN:AAJPG8641C
Click here to view complete history of this specific entity/person SHASHANKA ASHOKKUMAR GHOSH

PAN:ACWPG5915E
 
EXTENDED TENURE OF THE SCHEME BEYOND TIME LIMIT ALLOWED UNDER PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATIONS 24(2) READ WITH 23(1) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996   IMPOSED PENALTY RS.50,000

29-MAR-2019
SEBI VIDE ITS NOTICE DATED 11/11/2019 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL AND/OR MUTUAL FUNDS TO 1. ATTACH ALL THE ACCOUNTS (INCLUDING MUTUAL FUNDS) BY WHATEVER NAME CALLED INCLUDING LOCKERS 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  
2
History of entity/person CINEMA CAPITAL CONTRIBUTORY CO.PVT.LTD.

(PAN:AAECC3609A)  
Click here to view complete history of this specific entity/person AMRIT LAL SURI

PAN:ABIPS3117K
Click here to view complete history of this specific entity/person BINAY CHANDRA MANDAL

PAN:AMFPM2093Q
Click here to view complete history of this specific entity/person URMILA GUPTA

PAN:AAEPG9149A
 
EXTENDED TENURE OF THE SCHEME BEYOND TIME LIMIT ALLOWED UNDER PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATIONS 24(2) READ WITH 23(1) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996   IMPOSED PENALTY RS.50,000

29-MAR-2019
SEBI VIDE ITS NOTICE DATED 11/11/2019 DIRECTED ALL THE BANKS IN INDIA AND/OR NSDL/CDSL AND/OR MUTUAL FUNDS TO 1. ATTACH ALL THE ACCOUNTS (INCLUDING MUTUAL FUNDS) BY WHATEVER NAME CALLED INCLUDING LOCKERS 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  
3
History of entity/person DYNAMIC INDIA FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
4
History of entity/person DYNAMIC INDIA FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
5
History of entity/person DYNAMIC INDIA FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

29-NOV-2019
 
6
History of entity/person DYNAMIC INDIA FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
7
History of entity/person DYNAMIC INDIA FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
8
History of entity/person DYNAMIC INDIA FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

29-NOV-2019
 
9
History of entity/person FORUM SYNERGIES (INDIA) PE FUND MANAGERS PVT.LTD.

(PAN:AABCF1159M)

(Along with : FORUM SYNERGIES INDIA TRUST)  
  DID NOT WIND-UP SCHEME UPON COMPLETION OF ITS TENURE AS PER TERMS OF PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATIONS 23(1)(A) READ WITH 23(3) AND 24(2) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 IN MATTER OF KNOWLEDGE MANUFACTURING FUND-I   IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS

23-FEB-2026
 
10
History of entity/person FORUM SYNERGIES INDIA TRUST

(PAN:AAAAF0945Q)

(Along with : FORUM SYNERGIES (INDIA) PE FUND MANAGERS PVT.LTD.)  
  DID NOT WIND-UP SCHEME UPON COMPLETION OF ITS TENURE AS PER TERMS OF PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATIONS 23(1)(A) READ WITH 23(3) AND 24(2) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996 IN MATTER OF KNOWLEDGE MANUFACTURING FUND-I   IMPOSED PENALTY RS.10,00,000 ALONG WITH OTHER ENTITIES/PERSONS

23-FEB-2026
 
11
History of entity/person ICICI VENTURE FUNDS MANAGEMENT CO.LTD.  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

29-NOV-2019
 
12
History of entity/person ICICI VENTURE FUNDS MANAGEMENT CO.LTD.  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
13
History of entity/person ICICI VENTURE FUNDS MANAGEMENT CO.LTD.  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
14
History of entity/person INDIA ADVANTAGE FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

29-NOV-2019
 
15
History of entity/person INDIA ADVANTAGE FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
16
History of entity/person INDIA ADVANTAGE FUND III  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
17
History of entity/person INDIA ADVANTAGE FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
18
History of entity/person INDIA ADVANTAGE FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

02-DEC-2019
 
19
History of entity/person INDIA ADVANTAGE FUND IV  
  ALLEGED MISREPRESENTATION TO INVESTORS WITH REGARD TO REGISTRATION STATUS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED DEFAULT IN PROPOSAL FOR EXTENSION, LIQUIDITY AND CONSENT OF INVESTORS VIOLATING REGULATIONS 4(1), 4(2)(F) AND 4(2)(K) OF SEBI PFUTP REGULATIONS, 2003

ALLEGED MANAGEMENT OF FUNDS NOT IN ACCORDANCE WITH TERMS AND CONDITIONS SPECIFIED IN PRIVATE PLACEMENT MEMORANDUM VIOLATING REGULATION 16(1) (A) OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996  
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.5,21,92,635 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

29-NOV-2019
 
20
History of entity/person UNITECH ADVISORS (INDIA) PVT.LTD.

(PAN:AACCC5880D)  
Click here to view complete history of this specific entity/person ANIL HARISH

PAN:AAAPH8876M
Click here to view complete history of this specific entity/person MAHESH KUMAR SHARMA

PAN:AYYPS1602E
Click here to view complete history of this specific entity/person RAKESH DHINGRA

PAN:AAHPD6226A
Click here to view complete history of this specific entity/person S.K.MISRA

PAN:ADQPM3235L
Click here to view complete history of this specific entity/person VIJAY TULSHYAN

PAN:ACFPT5009H
 
EXTENDED TENURE OF SCHEMES VIOLATING REGULATION 23(1) (A) READ WITH 16 OF SEBI (VENTURE CAPITAL FUNDS) REGULATIONS, 1996   IMPOSED PENALTY RS.2,00,000

28-MAR-2019
SAT: SAT VIDE ITS ORDER DATED 04/05/2021 DISMISSED THE APPEAL. NO COSTS

SAT: SAT VIDE ITS ORDER DATED 24/10/2024 APPELLANTS FOUR WEEKS TO FILE REJOINDER  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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