Emerging India Focus Funds pays Rs 64.35 lakh to settle case with Sebi

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Emerging India Focus Funds on Monday settled a case concerning the alleged violations of Foreign Portfolio Investor (FPI) rules with markets regulator Sebi on payment of Rs 64.35 lakh towards settlement charges.

Pending adjudication proceedings, Emerging India Focus Funds filed an application with Sebi and shelled out Rs 64.35 lakh on November 13 to settle the alleged violations.

The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against the applicant and issued a showcause notice in February for the alleged violations of FPI Regulations and Intermediaries Regulations.

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Category: BusinessFinance

Markets: India

Topics: FPIs SCN Emerging India Focus Funds Sebi Violation case

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-18 @ 16:25:28 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 270 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23656279

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