Edelweiss Stressed and Troubled Assets Revival Fund Trust and Edelweiss Alternative Asset Advisors Ltd settled with SEBI for alleged AIF rule violations by paying Rs 61.4 lakh.
SEBI’s order mandates that the involved officers refrain from engaging with the company for a 12-month period. This decision comes after the entities filed applications to settle proceedings without admitting or denying SEBI’s findings, following complaints of governance and conflict management lapses.
Edelweiss has implemented corrective measures, establishing a fund board with independent members and a governance committee to oversee conflict situations. However, SEBI retains the right to reopen the case if further discrepancies are found in disclosures.