Raselle Capital VCC has settled a case with SEBI regarding FPI regulations by paying Rs 1.23 crore in settlement charges.

Raselle Capital VCC, a foreign portfolio investor, has settled allegations of violating FPI regulations with SEBI by paying Rs 1.23 crore as settlement charges.

The decision follows Raselle Capital's resolution to settle the ongoing proceedings without "admitting or denying the findings of facts and conclusions" under the law.

SEBI had initiated adjudication proceedings against Raselle Capital VCC for alleged violations of FPI rules and other market norms. A show cause notice dated December 18, 2023, was issued by SEBI to the applicant for these alleged violations.

Subsequently, Raselle Capital filed a settlement application with SEBI under its regulations to resolve the matter.

Upon receiving the application, SEBI's high-powered advisory committee recommended settling the matter by paying the settlement amount.

"In view of the acceptance of the settlement terms and the receipt of the settlement amount by SEBI, the adjudication proceedings initiated against the applicant via the show cause notice dated December 18, 2023, have been resolved under the Settlement Regulations based on the agreed terms," stated SEBI's Adjudicating Officer Barnali Mukherjee in the order.

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