SEBI settles proceedings against Advantedge Technology Fund for ₹12,75,000
The AIF, its manager, and three KMPs failed to maintain pro-rata contributions to Scheme III. They settled for ₹12,75,000 paid jointly and severally.
What changed
- SEBI closed proceedings against Advantedge Technology Fund and its manager for pro-rata contribution lapses.
- The violations occurred during two periods in 2024; a ₹12,75,000 settlement was accepted.
- Three KMPs (Khattar, Talwar, Garg) were also parties to the settlement.
The read
SEBI has settled enforcement proceedings against Advantedge Technology Fund, its manager, and three key managerial personnel for ₹12,75,000. The violations were straightforward: the Manager and Sponsor failed to maintain pro-rata contributions to Scheme III alongside other investors in two separate windows in 2024: Jan 30 to Jul 2 and Aug 16 to Dec 17. The settlement amount is modest, but the order reinforces that AIF managers must keep skin-in-the-game. Individual KMPs are on the hook for fund-level lapses. No retail investors or listed stocks are involved, so the market impact is minimal.
Primary source: official circular (PDF)