Under the settlement regulations, the fund settled the matter with the markets regulator without accepting or denying the allegations.
According to Sebi's settlement order, there were several alleged violations of the FPI regulations and intermediary regulations.
The regulator had sent a show-cause notice to the fund in February.
The high-powered advisory committee of Sebi considered the settlement terms and recommended the settlement amount, which was later approved by a panel of whole-time members.
According to the Sebi order, the fund allegedly violated Regulation 22 (1)(c) and (h) of the FPI Regulations 2019.
These two clauses relate to the fit-and-proper criteria of the investor and informing the designated depository participant in writing if there is any material change in the ownership or control of the fund.
Denne historien er fra November 19, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra November 19, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Exim Bank shares input on potential tariff hit with Centre
The Export and Import Bank of India (Exim Bank) held discussions, and provided inputs to the government on the potential impact of the reciprocal tariffs being imposed by the US from April 2.
Full-scale launch of DakPay by mid-FY26
R VISWESVARAN, managing director and chief executive officer (MD & CEO) of India Post Payments Bank, says transition to small finance bank will help margins but operational cost for small ticket loans are very high. He spoke to Manojit Saha in an exclusive interview. Edited excerpts:
THE BOOKKEEPER
An engineer with a business degree, Murray entered the publishing world when it was going through a digital shift. Today, he faces another tech-tonic moment, writes Veenu Sandhu
Sebi board to reveal 'conflicts of interest' to public: Pandey
The Securities and Exchange Board of India (Sebi) will soon make public disclosures on \"conflicts of interest\" of its board to ensure transparency and build trust in the market, Chairman Tuhin Kanta Pandey said on Friday.
US pushes India for a macro trade deal, not tariff tinkering
US commerce secy says agri can't be off the table for talks
India concerned over release of 'violent extremists' in B'desh
India on Friday voiced concern over Bangladesh releasing certain \"violent extremists\" and underlined that it is the responsibility of the interim government in Dhaka to protect Hindus and other minorities as well as their religious institutions.
J&K Budget focuses on fiscal discipline, revenue boost
Jammu and Kashmir Chief Minister Omar Abdullah on Friday announced a series of economic and tax reforms aimed at boosting revenue, infrastructure development, and social security while ensuring fiscal prudence.
Ola Electric Stores See Raids, Seizures
Ola Electric Mobility Ltd.'s rapid expansion into brick-and-mortar showrooms is running into regulatory trouble.
Trick or retreat
Itis fashionable to curse Rajiv for Bofors and more, but the truth is that1985-89 was the only period in our history when weapon acquisitions were proactive and futuristic
CCI Proposes Curbs on Market Investments by Employees
The Competition Commission of India (CCI) on Friday released draft code rules that propose restrictions on investments by its employees and their dependent children in commodity derivatives, equity and equity-related instruments, and initial public offerings, among others.
