Venture Intelligence (TSJ Media Pvt. Ltd.)
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Sebi fines Essel Finance Advisors, others for AIF rules violation in realty fund case
Capital markets regulator the Securities and Exchange Board of India (Sebi) has imposed penalties totalling INR 29 lakh on six entities, including India Asset Growth Fund (a real estate focused fund), its manager Essel Finance Advisors and Managers, and trustee Vistra ITCL (India) for multiple violations of AIF rules.Sebi levied a fine of INR 11 lakh on IAGF, INR 10 lakh on Arpan Sarkar and Jaykishan Kikani (jointly and severally), INR 6 lakh on Vistra ITCL (India), and INR 2 lakh on Essel Finance Advisors and Managers (EFAM), its Chief Executive Officer Vishnu Prakash Rathore (jointly and severally).The entities were found guilty of serious lapses in regulatory compliance during the inspection period from April 2021 to March 2022.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.