Mumbai: Market regulator Securities and Exchange Board of India (SEBI) has slapped a Rs3 lakh penalty on Religare over the financial service provider's failure to conduct due diligence while processing some of its clients' accounts, reports PTI.
Mumbai Angels, an angel investment network, has invested about $400,000 in Mobiquest, a Noida-based mobile enterprise platform company.
Mobiquest provides mobile application services to its customer. Mumbai Angels has invested about $400,000 through preferential allotment.
Mobiquest will use the funds for its business development, expansion of team and product enhancement.
Agni Property Group has raised $12 million from Silicon Valley-based venture capital firm Foundation Capital and India-based Helion Venture Partners. Both firms are investing $6 million each for a minority stake in the company.
Headquartered in Delhi, Agni Property Group partners with property developers in various cities for selling mainly new properties and charges a commission on the asset value of the property. Agni Group expects revenues of $25 million by 2011.
The company has already partnered with more than 170 developers across 19 locations in India.
The company also plans to enter broker housing finance for buyers through Agni Finance. This unit will work with housing finance majors to help buyers get loans.