Raselle Capital VCC Settles FPI Violation Case with Sebi
By Rediff Money Desk, New Delhi Jul 02, 2024 17:34
Raselle Capital VCC has settled a case with Sebi regarding alleged violations of FPI rules after paying Rs 1.23 crore in settlement charges. The case involved alleged violations of Sebi's Foreign Portfolio Investors (FPI) rules and other market norms.
![Raselle Capital VCC Settles FPI Violation Case with Sebi](https://im.rediff.com/money/2020/dec/08markets.jpg)
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jul 2 (PTI) Foreign portfolio investor Raselle Capital VCC has settled a case related to the alleged violation of FPI rules with capital markets regulator Sebi after paying Rs 1.23 crore as settlement charges.
The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law.
The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant (Raselle Capital VCC) for the alleged violations of Sebi's Foreign Portfolio Investors (FPI) rules and other market norms.
Further, a show cause notice (SCN) dated December 18, 2023, was issued to the applicant by the markets watchdog for the alleged violations.
Thereafter, the applicant filed a settlement application with the regulator in terms of the provisions of Sebi's (Settlement Proceedings) regulations to settle the matter.
Pursuant to the receipt of the application, Sebi's High Powered Advisory Committee (HPAC) recommended to settle the matter on payment of the settlement amount.
"...in view of the acceptance of the settlement terms and the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against applicant vide SCN dated December 18, 2023, is disposed of in terms of of the Settlement Regulations on the basis of the settlement terms," Sebi's Adjudicating Officer Barnali Mukherjee said in the order.
Subsequently, Raselle Capital VCC paid the amount and settled the case.
The order came after Raselle Capital proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions" of the law.
The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant (Raselle Capital VCC) for the alleged violations of Sebi's Foreign Portfolio Investors (FPI) rules and other market norms.
Further, a show cause notice (SCN) dated December 18, 2023, was issued to the applicant by the markets watchdog for the alleged violations.
Thereafter, the applicant filed a settlement application with the regulator in terms of the provisions of Sebi's (Settlement Proceedings) regulations to settle the matter.
Pursuant to the receipt of the application, Sebi's High Powered Advisory Committee (HPAC) recommended to settle the matter on payment of the settlement amount.
"...in view of the acceptance of the settlement terms and the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against applicant vide SCN dated December 18, 2023, is disposed of in terms of of the Settlement Regulations on the basis of the settlement terms," Sebi's Adjudicating Officer Barnali Mukherjee said in the order.
Subsequently, Raselle Capital VCC paid the amount and settled the case.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 17.03 ( -3.40)
- 81038619
- Sawaca Business Mach
- 0.83 ( -3.49)
- 72401340
- G G Engineering
- 2.29 (+ 9.57)
- 39228764
- AvanceTechnologies
- 0.96 ( -4.95)
- 36563526
- Shree Securities
- 0.38 ( -2.56)
- 25524335
MORE NEWS
![Password Security...](https://im.rediff.com/80-80/money/2017/aug/24data.jpg)
Password Security Concerns: 17% Indians Store...
A recent survey reveals that 17% of Indians store passwords unsafely, with 34% sharing...
![Indian Energy...](https://im.rediff.com/80-80/money/2016/jun/08energy.jpg)
Indian Energy Exchange Trade Volume Rises 19%...
Indian Energy Exchange (IEX) reports a 19% increase in overall trade volume to 28,178...
![Kotak Mutual Fund...](https://im.rediff.com/80-80/news/2022/sep/small-caps-o.jpg)
Kotak Mutual Fund Resumes Small-Cap Fund...
Kotak Mutual Fund has resumed subscriptions to its small-cap funds after a four-month...