SEBI penalises realty fund managers, trustees for failing to wind up, not returning investors monies

SEBI has penalised Unitech Advisors (now Auram Asset Management) for failing to wind up three of its real estate funds — CIG Realty Fund I, CIG Realty Fund II, and CIG Realty Fund IV — on time. SEBI has ordered the company to immediately wind up the firms and return the unitholders’ funds.

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