Edelweiss Fund Manager Abhishek Gupta Reaches Settlement with SEBI

Abhishek Gupta, a former fund manager at Edelweiss Asset Management, has resolved allegations of mutual fund rule violations with SEBI by paying a settlement fee of Rs 19.5 lakh. He filed for settlement without admitting to the findings, leading to the closure of the adjudication proceedings.

Abhishek Gupta, formerly a fund manager with Edelweiss Asset Management, has settled a case involving supposed breaches of mutual fund regulations with SEBI, the markets regulator.

The case stemmed from allegations that Gupta did not ensure the funds were invested in line with the schemes' objectives, reportedly violating mutual fund rules. To address these charges, Gupta filed a settlement application with SEBI, offering to resolve the matter without admitting or denying SEBI's findings.

Following a settlement payment of Rs 19.5 lakh received by SEBI on October 17, the regulator decided to conclude the adjudication proceedings against Gupta, as noted in the settlement order issued thereafter.

(With inputs from agencies.)