Sebi Cancels 5 AIF Registrations for Reporting Lapses
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Sebi cancels registration of 5 AIFs (Exponential, Florintree, Prime Realty, Rudrabhishek, Victory) for repeated failure to submit quarterly reports.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jun 1 (PTI) Capital markets regulator Sebi on Monday cancelled the registration of five alternative investment funds (AIFs) for repeatedly failing to submit mandatory quarterly activity reports.
In separate orders, Sebi cancelled the registrations of Exponential Innovation Fund, Florintree India Flexi Advantage Trust, Prime Realty Capital, Rudrabhishek Infrastructure Trust and Victory Investment Fund with immediate effect.
The regulator said these entities failed to file Quarterly Activity Reports (QARs) for the quarters ended March, June, September and December, 2025, despite regulatory requirements mandating specific disclosures by registered AIFs.
According to existing rules, all AIFs are required to submit quarterly reports within 15 days from the end of every quarter through Sebi's Intermediary Portal.
Following the lapses, Sebi initiated summary proceedings under the Intermediaries Regulations and issued show-cause notices to these entities in April 2026.
Observing that the violations were established and the entities had failed to comply with reporting norms, Sebi held that cancellation of registration was warranted under the applicable rules.
In separate orders, Sebi cancelled the registrations of Exponential Innovation Fund, Florintree India Flexi Advantage Trust, Prime Realty Capital, Rudrabhishek Infrastructure Trust and Victory Investment Fund with immediate effect.
The regulator said these entities failed to file Quarterly Activity Reports (QARs) for the quarters ended March, June, September and December, 2025, despite regulatory requirements mandating specific disclosures by registered AIFs.
According to existing rules, all AIFs are required to submit quarterly reports within 15 days from the end of every quarter through Sebi's Intermediary Portal.
Following the lapses, Sebi initiated summary proceedings under the Intermediaries Regulations and issued show-cause notices to these entities in April 2026.
Observing that the violations were established and the entities had failed to comply with reporting norms, Sebi held that cancellation of registration was warranted under the applicable rules.
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