SEBI finds CCVPL violated record-keeping and certification rules

This order details SEBI's inquiry into Corporate Capital Ventures Private Limited (CCVPL), a registered Merchant Banker, regarding alleged violations of regulatory compliance, including failure to maintain records, update website disclosures, and meet certification requirements during an inspection period from April 2021 to January 2023.

Who it concerns: Corporate Capital Ventures Private Limited (SEBI Registration No. INM000012276)

What SEBI found or ordered

• SEBI found CCVPL in violation of regulations regarding non-updation of track record on its website.
• SEBI found CCVPL in violation of NISM certification requirements.
• SEBI found CCVPL failed to submit true and correct information related to a previous SEBI inspection.
• SEBI found CCVPL failed to upload investor charter and disclose complaint data on its website and failed to reply to a test email.
• SEBI found CCVPL disclosed misleading information regarding its presence at multiple locations.
• SEBI found CCVPL failed to exercise due diligence and maintain records and documents.
• The Designated Authority recommended that CCVPL be prohibited from taking new assignments for a period of 1 month.

Also in the document

• The inspection period covered April 1, 2021, to January 31, 2023.
• The Designated Authority's recommendation was to bar the firm from new assignments for one month, rather than revoking its registration.
• CCVPL cited operational difficulties, team changes, and the impact of the pandemic as reasons for some compliance lapses, such as the delay in updating IPO track records.