sebi:SO/AS/EFD2/2024-25/7794

SEBI · SEBI · 2023-06-21 · Kamlesh C. Varshney, Whole Time Member; Amarjeet Singh, Whole Time Member

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Facts / Headnote

Settled

Provisions invoked

Regulations

Parties

Holding

Any proceedings that may be initiated against East Lane Capital LLP for the violations mentioned at paragraph 1 are settled on payment of Rs. 23,40,000. SEBI shall not initiate any enforcement action against the applicant for the said violations, subject to its rights under Regulation 28 of the Settlement Regulations.

Full text

2 Settlement Order in respect of East Lane Capital LLP in the matter of Astral Indian Equities Fund investment activities. During the month of February 2023, the Fund has made below investments: Transaction Date Scrip name Amount invested %Holding 17-02-2023 HDFC Bank Limited 1,65,885.72 0.02 20-02-2023 HDFC Bank Limited 11,13,40,043.13 11.96 20-02-2023 ICICI Bank Limited 11,11,75,717.04 11.94 20-02-2023 Axis Bank Limited 11,14,28,049.13 11.97 20-02-2023 ICICI Lombard 11,19,18,793.30 12.02

3 Settlement Order in respect of East Lane Capital LLP in the matter of Astral Indian Equities Fund 2.4. At the end of June 2023, the holding of the Fund along with percentage of its investments to NAV was as below:

4 Settlement Order in respect of East Lane Capital LLP in the matter of Astral Indian Equities Fund 2023, had issued directions to all AIFs regarding issuance of units of all schemes of AIFs in dematerialized form. The extended deadline for the same was January 31, 2024, in case of funds which has a corpus greater than Rs. 500 crore.

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Source: SecMarx — sebi:SO/AS/EFD2/2024-25/7794. 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.