One phone & address but 38 different entities!
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Last Updated: Tuesday, December 29, 2009, 00:19
  
New Delhi: They have different names but as many as 38 foreign venture capital investors incorporated in Mauritius and registered with Indian market regulator SEBI have the same address, phone and fax numbers.

According to the latest data available with SEBI, 38 Mauritius-based foreign venture capital investors (FVCIs) are having the same address, phone and fax numbers but their names are different.

Interestingly, 97 per cent of the FVCIs registered with SEBI are incorporated in Mauritius. Out of the total 135 such entities, 131 are registered in the island nation.

According to the SEBI list, the address-- IFS Court, 28, Cybercity, Ebene, Mauritius-- is common to 38 different funds. The list gives details of the FVCIs registered since 2001.

The phone number -- (230) 467 3000 -- and fax number -- (230) 467 4000 -- are also the same for the 38 FVCIs.

The 38 funds include 2i Capital PCC, Aditi Investment Holdings, Aquarius Capital (Mauritius) Ltd, Citigroup Venture Capital International Mauritius, Dynamic India Fund V, Norwest Venture Partners, Sequoia Capital and Zephyr Peacock India.

Many other Mauritius-based entities too have registered with a common address. They include 17 funds having the same address of "Las Cascades Building, Edith Cavell Street, Port Louis, Mauritius."

Going by SEBI rules, FVCIs need to obtain firm commitment from their investors for contribution of an amount of at least USD one million before the start of operation.

-PTI


First Published: Tuesday, December 29, 2009, 00:19


Tag: SEBIPhone
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