| S.No. |
ENTITY |
PERSONS |
REGULATORY CHARGES |
REGULATORY ACTION(S) / DATE OF ORDER |
FURTHER DEVELOPMENTS |
| 21 |
|
CLEAN MAX ENVIRO ENERGY SOLUTIONS PVT.LTD.
(PAN:AAECC1568J)
|
|
|
ALLEGED FAILURE IN OBTAINING APPROVAL FROM SEBI FOR CHANGE IN CONTROL OF SPONSOR AND ALSO INDIRECT CHANGE IN CONTROL OF INVESTMENT MANAGER VIOLATING REGULATION 20(13) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.17,40,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
11-DEC-2023
|
|
| 22 |
|
|
CLEAN MAX RENEWABLE TRUST
(PAN:AACTC5665M)
|
|
|
|
KULDEEP JAIN
PAN:AEJPJ4284J
|
|
|
NIKUNJ GHODAWAT
PAN:AHCPG8170G
|
|
|
NITAI VIJAY
PAN:ABFPV5668P
|
|
ALLEGED EXCEEDING LIMIT OF 25% IN THREE INVESTMENTS NAMELY CLEAN MAX PLUTO SOLAR POWER LLP, CLEAN MAX POWER 3 LLP AND KAS ONSITE POWER SOLUTIONS LLP BY INVESTING RS.6.5 CRORE IN EACH OF INVESTEE COMPANY/VENTURE VIOLATING REGULATION 15(1)(C) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.19,30,500 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
16-OCT-2024
|
|
| 23 |
|
|
CONVERGE SOLUTIONS LLP
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
IMPOSED PENALTY RS.2,00,000
30-SEP-2022
|
SEBI VIDE ITS NOTICE DATED 05/04/2024 DIRECTED TO PAY RS.2,41,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE
SEBI VIDE ITS ORDER DATED 25/10/2024 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
SEBI VIDE ITS NOTICE DATED 25/11/2024 DIRECTED ALL THE BANKS AND MUTUAL FUNDS IN INDIA TO REMIT RS.2,55,000.00 TO THE EXTENT LYING IN THE ACCOUNT OF NOTICEE TO SEBI BY WAY OF EFT/NEFT/RTG
|
| 24 |
|
|
DIVINION ADVISORY SERVICES PVT.LTD.
(PAN:AAICD0429P)
|
|
|
ALLEGED VIOLATION OF REGULATIONS 20(1), 20(2) AND 20(5) READ WITH CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT AS SPECIFIED IN FOURTH SCHEDULE OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
15-MAY-2024
|
|
| 25 |
|
|
DIVINION ALTERNATIVE INDIA FUND
(PAN:AADTD8416E)
|
|
|
ALLEGED INVESTED IN THE CATEGORY OF SECURITIES OTHER THAN PERMITTED CATEGORY VIOLATING REGULATIONS 18(A), 20(1) READ WITH 1(A) OF CODE OF CONDUCT AS SPECIFIED IN FOURTH SCHEDULE OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
15-MAY-2024
|
|
| 26 |
|
|
EAST LANE CAPITAL LLP
(PAN:AAIFE2914K)
|
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUND
ALLEGED DELAY IN ISSUANCE OF UNITS IN DEMATERIALISATION FORM
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.23,40,000 VIDE CONSENT ORDER)
25-OCT-2024
|
|
| 27 |
|
|
EDELWEISS ALTERNATIVE ASSET ADVISORS LTD.
(PAN:AABCE9810G)
|
|
|
ALLEGED FAILURE TO CARRY OUT ACTIVITIES OF ALTERNATIVE INVESTMENT FUND IN ACCORDANCE WITH PRIVATE PLACEMENT MEMORANDUM
ALLEGED FAILURE IN IMPLEMENTING POLICIES AND PROCEDURES TO APPROPRIATELY MITIGATE CONFLICT OF INTEREST AND SUBMITTED INACCURATE INFORMATION TO TRUSTEE
|
REACHED SETTLEMENT (SETTLEMENT CHARGES RS.61,42,500 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
REACHED SETTLEMENT (CONSENT ORDER) (AGREED VOLUNTARILY TO BE
RESTRAINED FROM ENGAGING OR ASSOCIATING WITH COMPANY IN ANY MANNER)
FROM 30-SEP-2025 TO 29-SEP-2026
30-SEP-2025
|
|
| 28 |
|
|
ESSEL FINANCE ADVISORS & MANAGERS LLP
(PAN:AABTI0088B)
|
|
|
|
ARPAN SARKAR
PAN:BLMPS9641B
|
|
|
JAYKISHAN KIKANI
PAN:CCDPK1654H
|
|
|
VISHNU PRAKASH RATHORE
PAN:AIIPR6196C
|
|
DID NOT ENSURE DRAWDOWN OF FULL COMMITTED AMOUNT FROM INVESTORS AND DID NOT TAKE ANY ACTION AGAINST SELECTED CLASS OF INVESTORS INCLUDING SPONSOR AND MANAGER AS PER PRIVATE PLACEMENT MEMORANDUM RESULT
INVESTED MORE THAN 25% OF INVESTIBLE FUNDS IN A SINGLE INVESTEE COMPANY
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 SUBMITTING PRIVATE PLACEMENT MEMORANDUM REPORT TO SEBI
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
|
IMPOSED PENALTY RS.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
03-JUL-2025
|
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER.
SAT: SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED EXEMPTION APPLICATION
SAT: SAT VIDE ITS ORDER DATED 18/08/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER
|
| 29 |
|
|
ESSEL FINANCE ADVISORS & MANAGERS LLP
(PAN:AABTI0088B)
|
|
|
|
ARPAN SARKAR
PAN:BLMPS9641B
|
|
|
JAYKISHAN KIKANI
PAN:CCDPK1654H
|
|
|
VISHNU PRAKASH RATHORE
PAN:AIIPR6196C
|
|
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.12,00,000 ALONG WITH OTHER ENTITIES/PERSONS
20-JUN-2025
|
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED RESPONDENT SIX WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER.
SAT: SAT VIDE ITS ORDER DATED 04/08/2025 ALLOWED EXEMPTION APPLICATION
SAT: SAT VIDE ITS ORDER DATED 18/08/2025 ALLOWED RESPONDENT FOUR WEEKS TO FILE REPLY AND REJOINDER, IF ANY, BE FILED WITHIN TWO WEEKS THEREAFTER. STAYED RECOVERY SUBJECT TO DEPOSIT OF 50% PENALTY AMOUNT WITHIN TWO WEEKS FROM DATE OF THIS ORDER
|
| 30 |
|
|
FEDSEC TRUSTEESHIP SERVICES PVT.LTD.
(PAN:AAECF3106B)
(Along with : VENTURE GURUKOOL INVESTMENT TRUST)
|
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 25% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,25,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
31-JUL-2024
|
|
| 31 |
|
|
FIDUCIELLE CAPITAL ADVISORS LLP
(PAN:AAEFF6658B)
|
|
|
ALLEGED VIOLATION OF REGULATIONS 15(1)(C), 20(1), 20(2) AND 20(5) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 READ WITH CLAUSES 2(A) AND 2(C) OF CODE OF CONDUCT IN MATTER OF INDIAN SCHOOL FINANCE CO.PVT.LTD.
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
13-SEP-2024
|
|
| 32 |
|
|
FINIDEAS GROWTH FUND
(PAN:AAATF9250H)
|
|
|
|
GOVIND JHAWAR
PAN:AAUPJ2894H
|
|
|
UDIPTH TALERA
PAN:AAIPT4559R
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
04-APR-2025
|
|
| 33 |
|
|
FINIDEAS INVESTMENT ADVISOR PVT.LTD.
(PAN:AAECF9909Q)
|
|
|
|
GOVIND JHAWAR
PAN:AAUPJ2894H
|
|
|
UDIPTH TALERA
PAN:AAIPT4559R
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
04-APR-2025
|
|
| 34 |
|
|
FULCRUM VENTURE INDIA LLP
(PAN:AADFF0557G)
|
|
|
ALLEGED FAILURE TO WIND UP FUND/SCHEME AND DISTRIBUTE PROCEEDS TO INVESTORS PURSUANT TO THE COMPLETION OF ITS TENURE AS DISCLOSED IN PRIVATE PLACEMENT MEMORANDUM
ALLEGED MISREPORTING OF QUARTERLY REPORT FOR QUARTER ENDING SEPTEMBER, 2022
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.32,17,500 VIDE CONSENT ORDER)
14-MAR-2024
|
|
| 35 |
|
|
GLOBAL INFRASTRUCTURE PARTNERS INDIA PVT.LTD.
(PAN:AAJCG4994R)
|
|
|
DID NOT ENSURE THAT DECISIONS ARE TAKEN IN INTEREST OF INVESTORS VIOLATING CLAUSE 2(D) OF CODE OF CONDUCT READ WITH REGULATIONS 20(1) AND 20(2) 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
|
|
| 36 |
|
|
GMO-Z.COM PAYMENT GATEWAY CREDIT FUND 1
|
|
|
ALLEGED INVESTED MORE THAN 25% OF TOTAL INVESTIBLE FUNDS TOWARDS SUBSCRIPTION OF NCDS OF SATYA MICROCAPITAL LTD. VIOLATING REGULATION 15(1) (C) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.10,50,000 VIDE CONSENT ORDER)
09-MAY-2024
|
|
| 37 |
|
|
GOLDEN BIRD AIF
|
|
|
DID NOT FILE QUARTERLY REPORTS TO SEBI
|
CANCELLED REGISTRATION AS ALTERNATE INVESTMENT FUND FROM 16-FEB-2024
16-FEB-2024
|
|
| 38 |
|
|
GRAY MATTERS ALTERNATIVE INVESTMENT FUND
(PAN:AACTG5112D)
|
|
|
ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 25% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.12,75,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
13-SEP-2024
|
|
| 39 |
|
|
GREEN LANDS IMPACT FUND
(PAN:AADTG4594N)
|
|
|
ALLEGED MISREPORTING OF SUBMISSION OF QUARTERLY REPORT
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.62,88,750 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)
06-MAR-2025
|
|
| 40 |
|
|
GSF MANAGERS LLP
|
|
|
ALLEGED VIOLATION OF REGULATION 24(B) READ WITH REGULATION 28 OF SEBI (ALTERNATE INVESTMENT FUNDS) REGULATIONS, 2012 ALONG WITH SEBI CIRCULAR NOS. CIR/IMD/DF/10/2013 DATED 29/07/2013 AND SEBI/HO/IMD/DF1/CIR/P/2017/87 DATED 31/07/2017
|
REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,15,400 VIDE CONSENT ORDER)
23-JAN-2024
|
|
| 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 2 of 6
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