Edelweiss Asset's former manager settles MF rule violation case with Sebi

Quick Summary:

"In view of the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against the noticee viz, Abhishek Gupta vide ShowCause Notice...dated January 4, 2024, are hereby disposed of," the regulator said in its settlement order.

A former fund manager of Edelweiss Asset Management has settled a case pertaining to alleged violations of mutual fund rules with markets regulator Sebi following a payment of Rs 19.5 lakh towards settlement charges.

The order came after Gupta filed an application with Sebi proposing to settle the alleged violations "without admitting or denying of the findings of fact and conclusions of law" through a settlement order.

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Article Details

Category: BusinessFinance

Markets: India

Topics: MF rule violation Edelweiss Asset Management Sebi norms Sebi

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-22 @ 17:40:37 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 241 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23201344

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