CIG Realty Fund Investors Seek Justice Against Trustees for Breach of Trust
Investors in CIG Realty Fund have moved the Securities Appellate Tribunal (SAT) against the trustees of the fund
Cig Realty FundSecurities Appellate TribunalSebiReal EstateVenture Capital FundReal Estate NewsMay 26, 2024
The fund was set up in August 2005 and registered with the Securities and Exchange Board of India (Sebi) as a venture capital fund in December 2005. Investors have collectively invested approximately ₹650 crore across all schemes. In their plea filed before the tribunal, the investors alleged that the schemes were wrongfully extended beyond the permissible time, leading to a breach of contract and causing “grave inconvenience” to the investors. A real estate fund, with corpus typically pooled from retail investors, invests in securities of real estate companies. The Securities Appellate Tribunal (SAT) is a statutory body established under the Securities and Exchange Board of India Act, 1992. It hears appeals against the orders passed by Sebi.
The Securities and Exchange Board of India (Sebi) is the regulatory body for the securities market in India. It was established in 1988 and given statutory powers in 1992. Sebi's main objective is to protect the interests of investors and promote the development of the securities market.
Frequently Asked Questions
What is the Securities Appellate Tribunal (SAT)?
The Securities Appellate Tribunal (SAT) is a statutory body established under the Securities and Exchange Board of India Act 1992 It hears appeals against the orders passed by Sebi
What is the main objective of Sebi?
The main objective of Sebi is to protect the interests of investors and promote the development of the securities market
What is a venture capital fund?
A venture capital fund is a type of investment fund that invests in startups early-stage companies or small businesses with high growth potential
What is a real estate fund?
A real estate fund is a type of investment fund that invests in securities of real estate companies such as property developers construction companies or real estate investment trusts (REITs)
How much have investors collectively invested in CIG Realty Fund?
Investors have collectively invested approximately ₹650 crore across all schemes of CIG Realty Fund
Related News Articles
Bollywood's Realty Game: Celebrities Investing Big in Mumbai
Bollywood stars are reshaping Mumbai's real estate scene, investing crores in prime properties. From Amitabh Bachchan's ₹195 crore splurge to Janhvi Kapoor's luxurious buys, the film industry's elite are making significant investments in the city's real e
Devanahalli Metro Expansion: Will It Fuel Real Estate Demand and Enhance Connectivity?
The proposed Namma Metro extension to Devanahalli in Karnataka is expected to significantly boost real estate demand and improve connectivity in the region. This development could transform the local economy and attract more investments.
A Comprehensive Guide to China's Policy Meeting: What Traders Need to Know
With the property sector accounting for about 19% of China's economy, concerns around the sluggish housing market are likely to influence the outcomes of the upcoming policy meeting. Traders and investors should pay close attention to the decisions made d
Mumbai's Real Estate Sector: Navigating Opportunities and Challenges Amidst Soaring Property Demand
Stakeholders in Mumbai's real estate sector are facing a double-edged sword, with surging property demand bringing both opportunities for profit and challenges to navigate.
Real Estate Dominates Alternate Investment Funds with a 15% Share
Real estate investments have taken the lead in Alternate Investment Funds (AIFs) with a significant 15% share, totaling Rs 73,903 crore out of the total Rs 5,06,196 crore. This growth highlights the critical role AIFs play in the real estate sector.
Brookfield Corp Sells 5.13% Stake in Brookfield India REIT for Rs 883 Crore
In a significant transaction, Brookfield Corp has sold a 5.13% stake in Brookfield India REIT (BIRET) for Rs 883 crore. This move highlights the growing interest in the Indian real estate market and the strategic efforts of Brookfield to optimize its port