IFSCA imposes Rs 8 lakh penalty on Abans Financial Services IFSC Branch

IFSCA's Quasi-Judicial Authority for Enforcement imposed a Rs 8 lakh penalty on the IFSC Branch of Abans Financial Services under Section 15EA of the SEBI Act. The penalty follows an inspection of FY 2023-24 and covers delays in appointing the compliance officer, sponsor contribution, internal controls, investor disclosures, asset valuation, and periodic reporting to IFSCA. The order was received on June 3, 2026. The company states there is no material impact on operations and is assessing whether to appeal.