sebi:EAD-6/PM/RR/2019-20/5867
Facts / Headnote
Pending adjudication proceedings disposed of in terms of Regulation 15(1) of SEBI Settlement Regulations, 2014 upon settlement
Regulations relied on
- SEBI (PFUTP) Regulations, 2003 — 4(1)
- SEBI (Venture Capital Funds) Regulations, 1996 — 16(1)(a)
Parties
- India Advantage Fund IV
Holding
The pending adjudication proceedings initiated against India Advantage Fund IV vide SCN dated April 27, 2018 are disposed of in terms of Regulation 15(1) upon acceptance of settlement terms and receipt of the settlement amount.
Full text
Settlement Order in respect of India Advantage Fund IV Page 2 of 4 i. ICICI Venture Funds Management Company Limited was acting as Investment Manager to India Advantage fund III and India Advantage fund – IV (the Noticee), registered as Venture Capital funds. In addition, ICICI Venture Funds Management Company Limited was also acting as sponsor to Dynamic India Fund – III and Dynamic India Fund – IV registered as Foreign Venture Capital Investors.
Settlement Order in respect of India Advantage Fund IV Page 3 of 4 5. Thereafter, the Noticee, along with four other entities had a meeting with the Internal Committee (IC) of SEBI on April 10, 2019.
Settlement Order in respect of India Advantage Fund IV Page 4 of 4 b. the Noticee has breached any of the clauses / conditions of undertakings / waivers filed during the current settlement proceedings.
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Source: SecMarx — sebi:EAD-6/PM/RR/2019-20/5867. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.