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
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