SEBI Approves Settlement with Multiples PE Fund and Officials Over Delayed AIF Winding Up

The Securities and Exchange Board of India (SEBI) has approved a settlement with Multiples Private Equity Fund, its trustee, fund manager Multiples Alternate Asset Management, and key officials Renuka Ramnath and Sudhir Variyar over delayed winding up of an Alternative Investment Fund (AIF) scheme. The parties paid Rs 92.62 lakh as settlement charges without admitting or denying the allegations. SEBI had initiated adjudication proceedings for violation of AIF regulations related to the scheme's tenure expiry. The settlement was finalized after deliberations and approved by SEBI's internal and advisory committees.