SEBI adjudication order imposes penalties on three FPIs for violating foreign portfolio investment regulations.
Noticees failed to disclose beneficial ownership and investor grouping changes, leading to delayed regulatory intimation.
FPIs breached 10% investment limits in three companies for periods ranging from 3 to 9 years due to improper clubbing.
Total penalty of ₹45 lakh imposed jointly on BAO Value Fund, Sparrow Asia Fund, and Davos International Fund.