https://www.taxtmi.com/caselaws?id=780614 AT upheld SEBI's finding that the appellants, as trustees of a SEBI-registered venture capital fund, were responsible for non-winding up of the schemes under Section 15 of the Indian Trust Act and liable for penalties under Section 15HB of the SEBI Act for violating VCF Regulations. Prior penalties for Schemes I and II were sustained. With respect to Scheme IV, considering appellants' status as senior citizens and fund assets attached by the Enforcement Directorate, the tribunal reduced the penalty to Rs.2 lakh each. Appeal allowed in part. en-us Tue, 07 Oct 2025 00:00:00 +0530 Mon, 17 Nov 2025 09:55:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780614 AT upheld SEBI's finding that the appellants, as trustees of a SEBI-registered venture capital fund, were responsible for non-winding up of the schemes under Section 15 of the Indian Trust Act and liable for penalties under Section 15HB of the SEBI Act for violating VCF Regulations. Prior penalties for Schemes I and II were sustained. With respect to Scheme IV, considering appellants' status as senior citizens and fund assets attached by the Enforcement Directorate, the tribunal reduced the penalty to Rs.2 lakh each. Appeal allowed in part. Case-Laws SEBI Tue, 07 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780614