- SEBI barred Corporate Capital Ventures from new assignments for one month
- Inspection covered period from April 1, 2021, to January 31, 2023
- Found guilty of six violations including misleading website information
SEBI (Securities and Exchange Board of India) on Tuesday barred merchant banker Corporate Capital Ventures from taking new assignments for one month over multiple regulatory lapses, including failure to update IPO track records and NISM certification deficiencies.
The order came after the SEBI conducted an inspection of Corporate Capital Ventures Pvt (noticee) for the period from April 1, 2021, to January 31, 2023, for the alleged violations.
SEBI found the noticee guilty of six violations, including disclosure of misleading information/ misrepresentation of facts on the website regarding presence at multiple locations, and failure to exercise due diligence and lapses in maintaining records and documents.
The regulator observed that the merchant banker failed to submit true and correct information related to previous Sebi inspections and upload the investor charter and disclose complaints-related data on its website and send a reply to the test emails.
SEBI also found that the company's key managerial personnel did not possess the required NISM (National Institute of Securities Markets) certifications during the relevant period.
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Accordingly, Corporate Capital Ventures Pvt Ltd has violated the Code of Conduct for Merchant Bankers regulations.
"I...prohibit the noticee, i.e., Corporate Capital Ventures Private Limited, from taking new assignments for a period of one month from the date of this order," SEBI's Whole-Time Member Amarjeet Singh said in the order.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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