sebi:Order/MC/VS/2021-22/14404-14406
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Facts / Headnote
Violation of Section 12(1B) of the SEBI Act read with Regulation 3 of the CIS Regulations found; penalty quantum not stated in the excerpt provided
Provisions invoked
- s. 11B
- s. 11A
- s. 11
- s. 24
- s. 15
- s. 12
- s. 15J
- s. 15D
- s. 30
- s. 25
Regulations
- Reg. 3
- Reg. 12
Parties
- Crayon Capital Art Fund
- Gaurav Karan
- Amit Vadehra
Holding
The Adjudicating Officer found that by setting up, sponsoring and operating an art fund scheme which qualified as a collective investment scheme under Section 11AA of the SEBI Act, without incorporating a collective investment management company duly registered with SEBI, the Noticees violated Section 12(1B) of the SEBI Act read with Regulation 3 of the CIS Regulations.
Full text
Adjudication Order in respect of Crayon Capital Art Fund, Gaurav Karan and Amit Vadehra in the matter of Crayon Capital Art Fund
Adjudication Order in respect of Crayon Capital Art Fund, Gaurav Karan and Amit Vadehra in the matter of Crayon Capital Art Fund
Adjudication Order in respect of Crayon Capital Art Fund, Gaurav Karan and Amit Vadehra in the matter of Crayon Capital Art Fund
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Source: SecMarx — sebi:Order/MC/VS/2021-22/14404-14406. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.