HDFC Fund, Advisors Settle ₹26 Lakh Regulatory Violations
NEW DELHI: HDFC Property Fund and HDFC Capital Advisors have reached a settlement over a regulatory violation with Sebi, amounting to Rs 26 lakh. The case involved delays in the asset liquidation process and the distribution of proceeds. This delay in winding up the schemes is a violation of Sebi’s Venture Capital Funds rules. According to a Sebi settlement order issued on Thursday, HDFC Property Fund and HDFC Capital Advisors submitted suo motu settlement applications, proposing to resolve the matter “without admitting or denying the findings of facts and conclusions of law”. HDFC Property Fund initiated two schemes: the HDFC…