sebi:SO/AK/DS/2025-26/8190
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Facts / Headnote
Adjudication proceedings initiated vide SCN dated September 26, 2024 disposed of by settlement upon payment of settlement amount
Provisions invoked
- s. 19
- s. 15J
Regulations
- Reg. 25
- Reg. 28
- Reg. 23(1)
- Reg. 15(1)(c)
Holding
The instant adjudication proceedings initiated against the Applicants vide SCN dated September 26, 2024 are disposed of on settlement basis upon payment of INR 1,43,32,500 without admitting or denying the findings of facts and conclusions of law.
Full text
---------------------------------------------------------------------------------------------------------------- Settlement Order in the matter of inspection of Indiabulls AIF. Page 2 of 4 (The aforementioned entities are hereinafter collectively referred to as “the Applicants”.)
---------------------------------------------------------------------------------------------------------------- Settlement Order in the matter of inspection of Indiabulls AIF. Page 3 of 4 4.5. Applicants misrepresented the financial information and disclosed inaccurate financial information related to valuation of IBDARA scheme to the investors. 4.6. Applicants failed to comply with the deficiency letter dated May 12, 2017 issued post inspection held in FY 2015 advising the fund to conduct valuation of its securities bi-annually. 4.7. Applicants submitted inaccurate information in the CTR filed with the trustee.
---------------------------------------------------------------------------------------------------------------- Settlement Order in the matter of inspection of Indiabulls AIF. Page 4 of 4
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Source: SecMarx — sebi:SO/AK/DS/2025-26/8190. 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.