The latest order came after several investors lodged complaints that their investments are stuck, as the suspension of trading in shares of BGDL prevents them from liquidating
Account for 24% of investors but 33% of AUM
Sebi highlighted multiple lapses, including the firm's failure to conduct an annual audit and its practice of charging clients fees in both fixed and assets-under-advice (AUA) modes
The broader market extended losses for a second day, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 0.6 per cent and 1.1 per cent, respectively