Sebi - Inaction on my complaint
Murali Mohan filed complaint against Sebi on Jun 4, 2019
This is a complaint against SEBI which is not responding to my grievance after around * years and a very lackadaisical approach to an investor who has lost ** lacs in a media company with corrupt fund manager against whom also no action taken so far. *-* dealing officers have changed and the current dealing officer is Mr.Naveen Sharma (*** ********) who does not respond to emails and is difficult to reach over phone. I complained to SEBI Chairman in Jan '** with no response.
I filed a complaint against Vistaar Religare Media Fund in May **** with subject reference SEBIE/MH**/*******/* and sent further reminder with no response so far. *-* dealing officers have changed and lastly I have been talking to Mr.Naveen Sharma with very slow progress if any. I am deeply disappointed that no proper action has been taken so far against Mr.Sheetal Talwar, Fund Manager or against Religare who was the JV partner apart from being part of the investment committee.
I had invested Rs.** Lacs in Vistaar Religare Film Fund which was launched in ****. The first drawdown of money was in November **** and the last one was in August **** (my account statement enclosed). It is now almost * years since initial investment and there is no sign of any repayment happening nor any official communication sent for time extension. There has been no update on how the funds were utilized and what is the status of one movie ‘Office Office’ which has been completed but not released etc. They had collected huge amount from the investors and subsequently there has been no update on the performance of the fund or of returning investor money. In the meantime, the fund manager Mr.Sheetal Talwar (**********) is scotfree and shuttling between London and India and who has no repentance having misused investor money.
Look forward to SEBI action against fund manager and early settlement of this case.
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