The regulator has cancelled the registration of the 19 defunct overseas enterprise capital buyers, or FVCI firms, together with entities from Mauritius, Singapore and Cyprus.
This follows a present trigger discover despatched to the 19 entities in December final yr. The entities are not in existence as integrated entities of their respective jurisdictions and not happy the situation of being an entity integrated outdoors India; had didn’t file quarterly experiences, and didn’t intimate change in eligibility standards, violating the FVCI Rules, 2000. The 19 FVCIs don’t have a custody account with any of the custodians.
The entities failed to answer listening to notices dated January 17, 2025.
“From the fabric accessible on file, I be aware that the noticees weren’t finishing up any FVCI actions and likewise hardly submitted the related experiences ever since being registered with SEBI,” the order mentioned.
