Major Settlement in FPI Rule Violation Case

In a landmark decision, six entities, including the US-based investment firm Acacia Partners and its affiliates, have reached a settlement with the Securities and Exchange Board of India (Sebi) over alleged violations of Foreign Portfolio Investor (FPI) rules. The settlement amount totaled Rs 4.1 crore.

Acacia Partners, along with its affiliates and Conifer Management LLC, voluntarily filed settlement applications under Sebi's settlement proceedings norms. They proposed to settle the case without admitting or denying the findings of fact and conclusions of law, as per a Sebi order.

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