Regulatory directions for alternative investment funds can bar fundraising, mandate asset disposal or require investor refunds and interest. The Board may, after considering an inspection report and after giving a reasonable opportunity of hearing to the Alternative Investment Fund or its trustees, directors or manager, issue directions in the interest of the securities market or investors. Such directions may include requiring the fund not to launch new schemes or raise money for a specified period; prohibiting disposal of properties acquired in violation; requiring disposal of assets in a specified manner; mandating refunds to investors with requisite interest; and prohibiting the person from operating in or accessing the capital market for a specified period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Regulatory directions for alternative investment funds can bar fundraising, mandate asset disposal or require investor refunds and interest.
The Board may, after considering an inspection report and after giving a reasonable opportunity of hearing to the Alternative Investment Fund or its trustees, directors or manager, issue directions in the interest of the securities market or investors. Such directions may include requiring the fund not to launch new schemes or raise money for a specified period; prohibiting disposal of properties acquired in violation; requiring disposal of assets in a specified manner; mandating refunds to investors with requisite interest; and prohibiting the person from operating in or accessing the capital market for a specified period.
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