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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 : 16-DEC-2025

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 (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
101
History of entity/person VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)  
  DID NOT EXERCISE PROPER CARE AND INDEPENDENT PROFESSIONAL JUDGMENT IN FULFILLING ITS ROLES AND RESPONSIBILITIES TO ENSURE THAT ACTS OF FUND WERE IN COMPLIANCE WITH ALTERNATIVE INVESTMENT FUNDS   IMPOSED PENALTY RS.1,00,000

28-FEB-2025 		 
102
History of entity/person VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)  
  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   REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.11,13,750 VIDE CONSENT ORDER)

14-MAR-2024 		 
103
History of entity/person VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)  
  ALLEGED VIOLATION OF CLAUSES 15.2.3 AND 15.2.4 OF MASTER CIRCULAR DATED 07/05/2024 READ WITH CIRCULAR CIR/IMD/DF/14/2014 DATED 19/06/2014 READ WITH REGULATIONS 20(1) AND 20(2) OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012 READ WITH CLAUSE 3(B) OF CODE OF CONDUCT OF SEBI (ALTERNATIVE INVESTMENT FUNDS) REGULATIONS, 2012IN 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 		 
104
History of entity/person VISTRA ITCL (INDIA) LTD.

(PAN:AAACI6832K)  
  DID NOT WIND UP THE SCHEME EVEN AFTER COMPLETION OF EXTENDED TENURE AND CONTINUING THE SCHEME BEYOND PERMISSIBLE EXTENSIONS OF TWO YEARS   IMPOSED PENALTY RS.6,00,000

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  
105
History of entity/person WHITESPACE ALPHA TRUST

(PAN:AAATW5453D)  
Click here to view complete history of this specific entity/person PRAVEEN DWARAKANATH

PAN:ANKPD7583J
Click here to view complete history of this specific entity/person RAMASWAMY SHIVARAMAN

PAN:BZOPS3579J
  		ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY   REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

15-FEB-2024 		 
106
History of entity/person WHITESPACE FUND LLP

(PAN:AADFW1831G)  
Click here to view complete history of this specific entity/person PRAVEEN DWARAKANATH

PAN:ANKPD7583J
Click here to view complete history of this specific entity/person RAMASWAMY SHIVARAMAN

PAN:BZOPS3579J
  		ALLEGED VIOLATION OF CONCENTRATION LIMIT OF 10% OF INVESTABLE FUNDS IN A SINGLE INVESTEE COMPANY   REACHED SETTLEMENT ( SETTLEMENT CHARGES RS.15,00,000 ALONG WITH OTHER ENTITIES/PERSONS VIDE CONSENT ORDER)

15-FEB-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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