Archive · 18 Jul 2025
IFSCA Cracks Down on Nine GIFT City Fund Managers
IFSCA, the financial watchdogs in GIFT City, are cracking down on 9 fund managers.
They found that these fund managers weren't following the rules.
The fund managers' offices were sometimes closed during work hours or nobody was there, and important people called KMPs were often missing.
Because of this, the financial authority is taking action against them, possibly including penalties or warnings.
The authority wants to make sure all fund managers follow the rules and have their offices and key staff present.
IFSCA is taking regulatory action against nine Fund Management Entities (FMEs) in GIFT City.
The action follows multiple rounds of surprise visits to FME offices.
Some FMEs had unattended or closed offices during operational hours.
Key Management Personnel (KMPs) were also found absent consistently.
IFSCA stated these actions violate the IFSCA (Fund Management) Regulations, 2025.
- Who
- IFSCA is taking action against Fund Management Entities.
- What
- IFSCA is taking regulatory action against nine Fund Management Entities for violations.
- When
- The information was published on July 18, 2025.
- Where
- In GIFT City.
- Why
- Because the FMEs were not compliant with the IFSCA (Fund Management) Regulations, 2025.
- Regulatory Body
- IFSCA
- Entities Affected
- 9 Fund Management Entities (FMEs)
- Location
- GIFT City, IFSC
- Violation
- Non-compliant with IFSCA (Fund Management) Regulations, 2025
- Action
- Regulatory actions
- Key Issue
- Unattended offices and absent KMPs