Accuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP, and four officials have settled an AIF norms violation case with markets regulator Sebi, after paying Rs 21.75 lakh under the settlement mechanism.
The four officials who opted for settlement are Naresh Chand Gupta, Raman Nagpal, Prateek Gupta and Divya Singha.
In its order passed on Tuesday, Sebi said the proceedings initiated through summary settlement notices have been disposed of in terms of the Settlement Regulations.
The case stems from Sebi’s examination of quarterly filings of Accuracap Vectra Fund, a scheme under Accuracap Prime Opportunities Fund, for FY24.
The regulator found that the scheme failed to maintain the minimum required corpus of Rs 20 crore and did not restore it within three months of the breach. Despite this, the fund neither redeemed investor units nor wound up the scheme.
Additionally, the Alternative Investment Fund (AIF) was found to have exceeded the maximum permissible investAccuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP, and four officials have settled an AIF norms violation case with markets regulator Sebi, after paying Rs 21.75 lakh under the settlement mechanism.
The four officials who opted for settlement are Naresh Chand Gupta, Raman Nagpal, Prateek Gupta and Divya Singha.
In its order passed on Tuesday, Sebi said the proceedings initiated through summary settlement notices have been disposed of in terms of the Settlement Regulations.
The case stems from Sebi’s examination of quarterly filings of Accuracap Vectra Fund, a scheme under Accuracap Prime Opportunities Fund, for FY24.
The regulator found that the scheme failed to maintain the minimum required corpus of Rs 20 crore and did not restore it within three months of the breach. Despite this, the fund neither redeemed investor units nor wound up the scheme.
Additionally, the Alternative Investment Fund (AIF) was found to have exceeded the maximum permissible invest Latest News [ SOBAN NEWS: International and National ]
