Board power to issue directions to venture capital funds after inspection protects investor interests and restricts fund activities. The Board may, after considering an inspection or investigation report and after giving the venture capital fund and its trustees or directors a reasonable opportunity of hearing, issue directions to protect the securities market and investors, including restricting new schemes or fundraising, prohibiting improper disposal of fund properties, ordering specified disposal of assets, directing refunds to investors with interest, and suspending market access or operations by the persons concerned.
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.
Board power to issue directions to venture capital funds after inspection protects investor interests and restricts fund activities.
The Board may, after considering an inspection or investigation report and after giving the venture capital fund and its trustees or directors a reasonable opportunity of hearing, issue directions to protect the securities market and investors, including restricting new schemes or fundraising, prohibiting improper disposal of fund properties, ordering specified disposal of assets, directing refunds to investors with interest, and suspending market access or operations by the persons concerned.
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