2 weeks ago
Sebi Suspends Corporate Capital Ventures' New Mandates Over Compliance Lapses
There is a referee in India who makes sure the stock market is fair.
Its name is SEBI.
SEBI checks companies that help other companies sell shares to people.
One of those helper companies is called Corporate Capital Ventures.
SEBI looked at their work and found they broke some rules.
They gave wrong information on their website and did not keep good records.
Their workers also did not have the special certificates they needed.
So SEBI said the company cannot take any new jobs for one month.
The company can still finish the jobs it already has.
This punishment helps make sure companies follow the rules.
Sebi barred merchant banker Corporate Capital Ventures from taking new assignments for one month.
The suspension follows six regulatory violations found during an inspection covering April 1, 2021 to January 31, 2023.
Violations included misleading website information, failure to exercise due diligence, and lapses in maintaining records.
The company failed to upload the investor charter, disclose complaints data, and reply to Sebi's test emails.
Key managerial personnel lacked required NISM certifications, and Whole-Time Member Amarjeet Singh issued the order.
- Who
- Sebi (Securities and Exchange Board of India) and its Whole-Time Member Amarjeet Singh; Corporate Capital Ventures Pvt Ltd, the penalized merchant banker
- What
- Sebi suspended Corporate Capital Ventures from taking new assignments for one month over six compliance violations
- Where
- India (order issued in New Delhi)
- When
- One-month restriction begins from the date of the order, reported August 18; inspection covered April 1, 2021 to January 31, 2023
- Why
- Failure to update IPO track records, misleading website claims, due diligence and record-keeping lapses, and missing NISM certifications
Key facts
- Regulator
- Securities and Exchange Board of India (Sebi)
- Company
- Corporate Capital Ventures Pvt Ltd
- Penalty
- One-month suspension from taking new assignments
- Violations found
- Six
- Inspection period
- April 1, 2021 - January 31, 2023
- Key compliance failures
- Misleading website information, record-keeping lapses, NISM certification deficiencies
- Ordering authority
- Whole-Time Member Amarjeet Singh
- Location
- New Delhi
Quotes
Amarjeet Singh
Sebi Whole‑Time Member
“"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."”
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