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SEBI imposes penalty on AIF for reporting incorrect amount of investable funds
Case Law Details
- Case Name
- In re Indgrowth Capital Advisors LLP (SEBI)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- SEBI
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In re Indgrowth Capital Advisors LLP (SEBI)
The question that arises for consideration is whether the Noticee can be held liable for the error in computation of “investable funds”. As explained by the Noticee, the Noticee has set off the estimated expenditure against the estimated returns derived from temporary parking/ investment of funds and therefore the estimated expenditure got reduced, and as a consequence, the “investible funds” got increased to the extent of the returns. I find that in Ugro Capital Limited, the investment is just below the 10% cap of the higher...
