New Delhi, March 19 Accuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP, and four officials have settled a violation of Alternative Investment Fund (AIF) norms case with market regulator Sebi, after paying Rs 21.75 lakh under the settlement mechanism.
The four officials who opted for settlement are Naresh Chand Gupta, Raman Nagpal, Prateek Gupta, and Divya Singha.
In its order passed on Tuesday, Sebi said that the proceedings initiated through summary settlement notices have been disposed of in accordance with the Settlement Regulations.
The case stems from Sebi's examination of the quarterly filings of Accuracap Vectra Fund, a scheme under Accuracap Prime Opportunities Fund, for FY24.
The regulator found that the scheme failed to maintain the minimum required corpus of Rs 20 crore and did not restore it within three months of the breach. Despite this, the fund neither redeemed investor units nor wound up the scheme.
Additionally, the Alternative Investment Fund (AIF) was found to have exceeded the maximum permissible investment limit in a single investee company, Bajaj Auto Ltd, leading to violations of AIF regulations.
Sebi had issued summary settlement notices on November 24, 2025, to the AIF, its manager and key managerial personnel, offering them the option to settle the matter upon payment of Rs 21.75 lakh. The applicants accepted the terms, filed settlement applications, and remitted the amount.
"Based on the facts...the specified proceedings...are hereby settled in respect of the applicants," Sebi said in its order.