Emerging India Focus Funds Settles with SEBI: A Case of Compliance

Emerging India Focus Funds resolved allegations of breaking FPI rules with SEBI by paying Rs 64.35 lakh in settlement. The fund proposed a settlement without admitting guilt, addressing proceedings from a February showcause notice. SEBI accepted the settlement, concluding the proceedings.

Emerging India Focus Funds, on Monday, resolved allegations regarding violations of Foreign Portfolio Investor (FPI) rules by settling with the Securities and Exchange Board of India (SEBI) for Rs 64.35 lakh.

The case closed after the applicant proposed to settle the proceedings against it without admitting or denying the findings, through a settlement order. SEBI had initiated adjudication proceedings and issued a showcause notice in February for alleged violations of FPI and Intermediaries Regulations.

As part of the resolution, the fund filed a settlement application and paid the required amount on November 13, leading SEBI to officially conclude the proceedings. The case stands dismissed with the acceptance of the settlement terms.

(With inputs from agencies.)