sebi:SO/2025-26/PSD/1-3
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Facts / Headnote
settled
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23
- Reg. 16
Holding
The specified proceedings in respect of which the Notice of Summary Settlement dated December 23, 2024 and Supplementary Notice dated March 20, 2025 were issued are hereby settled in respect of the Applicants upon joint and several payment of Rs 14,62,500.
Full text
2 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 23, 2024 (hereinafter referred to as the “Notice”) and ‘Supplementary Notice of Summary Settlement’ dated March 20, 2025 (hereinafter referred to as the “Supplementary 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 paragraph 1 above, have been violated and that, if the Applicants so desired, the enforcement proceedings to be initiated against them for the same may be settled upon filing of an application under the Settlement Regulations along with remittance of the settlement amount of ₹14,62,500/- (Rupees Fourteen lakhs sixty two thousand five hundred only) to be paid jointly and severally within 30 calendar days from the date of the Supplementary Notice in terms of Chapter VII of the Settlement 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.
4. In response to the same, the Applicants filed applications proposing to settle the enforcement proceedings that may be initiated against them for the violation of the provisions of the AIF Regulations, mentioned in paragraph 1 above, through a settlement order and remitted the settlement amount of ₹14,62,500/- (Rupees Fourteen lakhs sixty two thousand five hundred only). SEBI has confirmed credit of the same.
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Source: SecMarx — sebi:SO/2025-26/PSD/1-3. 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.