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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 : 04-NOV-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
41
History of entity/person VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)  
  DID NOT INTIMATE FUND THE FUND TO INITIATE WINDING UP OF SCHEME WHEN ITS TENURE ENDED 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

23-FEB-2026 		 
42
History of entity/person 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 FROM 24-MAY-2023 TO 23-JUL-2023

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

SAT: SAT VIDE ITS ORDER DATED 28/09/2026 DISPOSED OF THE APPEAL, HOLDING PERIOD OF RESTRAINT AS SUFFICIENT, AND DOES NOT PREVENT APPELLANT FROM TAKING UP ANY NEW ASSIGNMENT. NO COSTS  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.
 
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