Apoorva Bajj

SEBI Fines Exfinity and Vistra ITCL Over a Fund That Missed Its Wind-Up Deadline SEBI has penalised Exfinity Venture Partners and its trustee, Vistra ITCL (India), for keeping an alternative investment fund alive years after it was supposed to close. The fund's tenure had run out around 2022, yet it was still holding stakes in startups well into 2024, without completing the wind-up that SEBI's rules require. The regulator imposed a monetary penalty of ₹10 lakh each on the manager and the trustee.

Open the company card statement of almost any Indian startup today and the same names repeat: ChatGPT, Claude, Cursor, Vercel, Perplexity. Useful tools, all billed from abroad, each charge small enough that nobody in finance stops to ask how it is taxed. They should. Sitting inside those charges is 18% GST, and the way most founders deal with it is quietly wrong in one of two directions. One direction costs you money. The other is a compliance gap that sits on your books until someone notices.

NSE IPO: India's Biggest Ever Listing at ₹30,000 Crore The National Stock Exchange has filed for India's biggest IPO ever, and the prospectus tells a more complicated story than the headline. On June 17, 2026, NSE filed its draft papers with SEBI for a listing worth about ₹30,000 crore, edging past Hyundai Motor India's ₹27,859 crore record. At the mooted ₹5 lakh crore valuation, that prices NSE at roughly 48 times its latest annual profit.