sebi:SO/2024-25/PSD/65-68
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Facts / Headnote
Settled
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
- Reg. 20(1)
- Reg. 15(1)(d)
- Reg. 16
Holding
The specified proceedings for which the Notice of Summary Settlement was issued are settled in respect of the Applicants upon payment of the settlement amount of Rs. 12,75,000 jointly and severally, and SEBI shall not initiate enforcement action for the said violations subject to conditions.
Full text
2 Talera are alleged to be in violation of Regulation 20(1) read with Regulation 15(1)(d) read with Clauses 2(a) and 2(c) of Code of Conduct as specified in the Fourth Schedule of the AIF Regulations.
3 i. SEBI shall not initiate any enforcement action against the Applicants for the said violations, and ii. Passing of this Settlement Order is without prejudice to the right of SEBI under Regulations 28 and 31 of the Settlement Regulations to initiate appropriate action against the Applicants, if SEBI finds that: (a) any representation made by the Applicants in the present settlement proceedings is subsequently found to be untrue; (b) the Applicants have breached any of the clauses/ conditions of undertakings/ waivers filed during the present settlement proceedings; and (c) there is a discrepancy while arriving at the settlement terms.
3. In terms of Regulation 16 of the SEBI (Settlement Proceedings) Regulations, 2018 (hereinafter referred to as “Settlement Regulations”), SEBI issued a ‘Notice of Summary Settlement’ dated December 02, 2024 and email dated January 30, 2025 (hereinafter referred to as the “Notice”) to the AIF, its Manager and the Key Managerial Personnel (hereinafter collectively referred to as the “Applicants”) intimating them that the relevant provisions of the AIF Regulations, as mentioned in paragraphs 1 and 2 above, have been violated on account of the breach of the concentration limit and that, if the Applicants so desired, the enforcement proceedings to be initiated against them for the same may be settled and disposed of upon filing of an application under the Settlement Regulations along with remittance of the settlement amount of ₹12,75,000/- (Rupees Twelve lakhs seventy five thousand only) to be paid jointly and severally within 30 calendar days from the date of the email dated January 30, 2025 in terms of Chapter VII of the Settlement Regulations.
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Source: SecMarx — sebi:SO/2024-25/PSD/65-68. 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.