TLDR:
– GSF Venture Capital Fund has settled a case with the Securities and Exchange Board of India (SEBI) regarding alleged non-compliance of Alternative Investment Fund (AIF) rules.
– The fund filed an application with SEBI proposing to settle the proceedings initiated through a show cause notice (SCN) without admitting or denying the findings.
GSF Venture Capital Fund has settled a case with the Securities and Exchange Board of India (SEBI) after allegedly failing to comply with Alternative Investment Fund (AIF) rules. The fund made a payment of over Rs 15 lakh towards the settlement amount. In November 2022, SEBI issued a show cause notice to GSF Venture Capital Fund for its failure to file quarterly reports for several quarters. The fund, which claimed it had not launched any schemes and did not have operations, argued that it was not required to make any filings to SEBI. However, SEBI alleged that the fund violated AIF rules by not submitting the required reports. After filing an application to settle the case, GSF Venture Capital Fund made the payment and the proceedings were disposed of by SEBI.
