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: DIRECTED NOT TO TAKE NEW ASSIGNMENTS AS INVESTMENT MANAGER

S.No.

ENTITY

PERSONS

REGULATORY CHARGES

REGULATORY ACTION(S) / DATE OF ORDER

FURTHER DEVELOPMENTS

BRICK EAGLE CAPITAL ADVISORY LLP

(PAN:AALFB8806C)

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KIRTI MALLANAGOUDA TIMMANAGOUDAR

PAN:ACHPT5483B

PARVINDER SINGH PASRICHA

PAN:AAFPP7525G

RAJESH RAMAN KRISHNAN

PAN:BRQPK9968P

RUBI ARYA

PAN:AAVPA0654P

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 NOT TO TAKE NEW ASSIGNMENTS AS INVESTMENT MANAGER FROM 28-FEB-2024 TO 27-FEB-2025

PROHIBITED FROM ISSUING PROSPECTUS OR ANY OFFER DOCUMENT, OR ISSUE ADVERTISEMENT FOR SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 28-FEB-2024 TO 27-FEB-2025

28-FEB-2024

UNITECH ADVISORS (INDIA) PVT.LTD.

(PAN:AACCC5880D)

DEEPAK BAJAJ

PAN:AJIPB3941N

DID NOT WIND UP SCHEMES AND DID NOT RETURN MONIES TO INVESTORS EVEN AFTER EXPIRY OF TENURE AS PER PRIVATE PLACEMENT MEMORANDUM

INVESTED CORPUS OF SCHEME IV IN ASSOCIATE COMPANIES

DID NOT REPORT ON QUARTERLY BASIS AS PRESCRIBED ON VENTURE CAPITAL ACTIVITY ON SEBI PORTAL WITHIN SEVEN DAYS FROM THE END OF CALENDAR QUARTER FOR QUARTERS ENDING

DID NOT PROVIDE INFORMATION TO SEBI

DID NOT CO-OPERATE WITH SEBI IN INSPECTION

DID NOT REDRESS INVESTOR COMPLAINTS

DID NOT COMMUNICATE NAMES, DESIGNATION AND ADDRESSES (INCLUDING EMAIL ADDRESSES) OF �PRINCIPAL OFFICER� AND �DESIGNATED DIRECTOR�, INCLUDING ANY CHANGES THEREIN TO THE OFFICE OF THE DIRECTOR-FIU

DID NOT CAPTURE KYC DETAILS OF CERTAIN CLIENTS IN ACCOUNT OPENING FORM AS SPECIFIED, VERIFIED/DOWNLOADED AND MAINTAINED CLIENTS DETAILS FROM THE SYSTEM OF KRA AND DID NOT OBTAIN REGISTRATION WITH KRA

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 INVESTMENT MANAGER FROM 29-DEC-2023 TO 28-DEC-2025

RESTRAINED FROM ACCESSING SECURITIES MARKET INCLUDING BY ISSUING PROSPECTUS, OFFER DOCUMENT OR ADVERTISEMENT SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 29-DEC-2023 TO 28-DEC-2025

DEBARRED/RESTRAINED FROM BUYING/SELLING/DEALING/IPOS IN SECURITIES/SPECIFIED SCRIPS DIRECTLY/INDIRECTLY FROM 29-DEC-2023 TO 28-DEC-2025

RESTRAINED FROM ASSOCIATING DIRECTLY OR INDIRECTLY, WITH ANY REGISTERED INTERMEDIARIES INCLUDING SEBI REGISTERED FUNDS SUCH AS MUTUAL FUNDS, ALTERNATIVE INVESTMENT FUNDS, PORTFOLIO MANAGEMENT SERVICES ETC. WHICH DEAL WITH INVESTOR�S MONEY IN ANY MANNER FROM 29-DEC-2023 TO 28-DEC-2025

IMPOSED PENALTY RS.1,20,00,000 ALONG WITH OTHER ENTITIES/PERSONS

29-DEC-2023

SAT: SAT VIDE ITS ORDER DATED 19/03/2024 DIRECTED RESPONDENT TO FILE REPLY INCLUDING ON STAY APPLICATION WITHIN TWO WEEKS FROM DATE OF THIS ORDER AND REJOINDER TO BE FILED ON OR BEFORE NEXT DATE

SAT: SAT VIDE ITS ORDER DATED 02/04/2025 CONDONED THE DELAY IN FILING OF REPLY AND ALLOWED EXEMPTION APPLICATION

SEBI VIDE ITS NOTICE DATED 15/12/2025 DIRECTED TO PAY RS.1,50,01,000.00 WITHIN FIFTEEN DAYS FROM RECEIPT OF THIS NOTICE

VISTAAR CAPITAL ADVISORS LTD.

(PAN:AACCV6540K)

KAVIL VENKATACHALAM GOURISHANKAR

PAN:ACCPG6678E

SANTOSH DATTA

PAN:AAQPD2621N

SHEETAL TALWAR

PAN:ADNPT6365M

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 INVESTMENT MANAGER FROM 24-MAY-2023 TO 23-MAY-2024

PROHIBITED FROM ISSUING PROSPECTUS OR ANY OFFER DOCUMENT, OR ISSUE ADVERTISEMENT FOR SOLICITING MONEY FROM PUBLIC FOR ISSUE OF SECURITIES IN ANY MANNER EITHER DIRECTLY OR INDIRECTLY FROM 24-MAY-2023 TO 23-MAY-2024

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 06/10/2025 ACCEPTED APPELLANTS AFFIDAVITS AND DISPOSED OF APPEAL . NO COSTS

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 : 16-DEC-2025

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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 : 16-DEC-2025

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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 : 16-DEC-2025