Description
SEBI issues Notice of Demand under Recovery Certificate No. 8967 of 2025 dated December 12, 2025 to Mr. Vijay Tulshyan (PAN: ACFPT5009H) in the matter of inspection of CIG Realty Fund Scheme I, II and IV.
Summary
SEBI has issued a Notice of Demand under Recovery Certificate No. 8967 of 2025 dated December 12, 2025 to Mr. Vijay Tulshyan (PAN: ACFPT5009H), who has been designated as a defaulter. This action is in connection with the inspection of CIG Realty Fund Scheme I, II and IV. Recovery certificate proceedings represent formal enforcement action by SEBI to recover dues from entities or individuals who have failed to comply with regulatory requirements.
Key Points
- Recovery Certificate No. 8967 of 2025 issued on December 12, 2025
- Defaulter: Mr. Vijay Tulshyan (PAN: ACFPT5009H)
- Matter relates to inspection of CIG Realty Fund Scheme I, II and IV
- Notice of Demand is a formal enforcement mechanism under SEBI regulations
- This represents escalated recovery proceedings by the regulator
Regulatory Changes
No new regulatory changes. This is an enforcement action under existing SEBI recovery framework.
Compliance Requirements
- Mr. Vijay Tulshyan is required to respond to the Notice of Demand
- Payment of demanded amounts as per the recovery certificate
- Compliance with any other directions specified in the notice
- Non-compliance may lead to further enforcement measures including attachment of assets
Important Dates
- December 12, 2025: Date of Recovery Certificate No. 8967 of 2025
- Response deadlines would be specified in the detailed notice
Impact Assessment
Severity: High Recovery certificate proceedings indicate serious violations requiring formal enforcement action. This is one of the strongest tools in SEBI’s enforcement arsenal.
Market Impact: High This action relates to CIG Realty Fund schemes, which may affect investors in these funds. The designation as defaulter has reputational and operational consequences for the individual and potentially for associated entities.
Investor Impact:
- Investors in CIG Realty Fund Scheme I, II and IV should monitor developments
- Recovery proceedings aim to protect investor interests
- May impact confidence in alternative investment funds if systemic issues are identified
Impact Justification
Recovery certificate proceedings indicate serious regulatory violations requiring enforcement action against the defaulter in CIG Realty Fund schemes.