Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Sebi imposes Rs.1-Cr penalty on RE fund manager Unitech Advisors
The Securities and Exchange Board of India (SEBI) has imposed a penalty of INR 1 crore on Unitech Advisors (India) Pvt Ltd (now known as Auram Asset Management Pvt Ltd) for failing to wind up three real estate funds years ago, despite several extensions. The regulator has also imposed a total of INR 10 lakh penalty on its directors, Ajay Chandra, Sanjay Chandra, Ramesh Chandra, Hitendra Malhotra and Deepak Bajaj, a director at Unitech Realty Investors (India) Pvt Ltd, and a nominee of Unitech Advisors on the investment committee of the fund house. They have also been barred from markets for two years.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.