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Registration of 19 foreign venture capital investors cancelled on norm violations

Business Standard  

The Securities and Exchange Board of India (Sebi) has cancelled the registration of 19 foreign venture capital investors (FVCIs), including entities based in Mauritius, Singapore, and Cyprus. Sebi has alleged multiple violations of regulatory norms.Among the 14 entities whose strike-off dates were available, 11 had been defunct for more than five years, while three had been defunct for periods ranging from 10 months to three years in their respective jurisdictions.Custodians confirmed to Sebi that these entities did not hold any securities in India.