Nine entities settle case of alleged AIF rules violations with Sebi

As many as nine entities, including PenBrook Capital Advisors and Peninsula Brookfield Trustee, on Friday settled with Sebi a case pertaining to alleged violations of alternative investment funds rules after paying Rs 85 lakh towards settlement charges.

The settlement order comes after the entities approached Sebi to settle the case in the matter of Peninsula Brookfield India Real Estate Fund, AIF. The adjudication proceedings initiated against the nine entities under the show cause notice issued in March 2021 have been disposed of, Sebi said in the order.

The Securities and Exchange Board of India (Sebi) had initiated adjudication proceedings against the entities pursuant to investigation in the matter of Peninsula Brookfield India Real Estate Fund, AIF or AIF–Penbrook.

The nine entities that settled the case are PenBrook Capital Advisors, Rajeev Pira­mal, Narendra Aneja, Sridhar Rengan, Chetan Desai, Penin­sula Brookfield Trustee, Urvi Ashok Piramal, Anuj Ranjan, and Prashant Sagwekar.