Accuracap Prime Opportunities Fund, Manager, Key Officials Pay ₹21.75 Lakh To Settle SEBI Case over AIF Norm Violations
Moneylife Digital Team 18 March 2026
Accuracap Prime Opportunities Fund, its manager Accuracap Technologies LLP and key officials Naresh Chand Gupta, Raman Nagpal, Prateek Gupta and Divya Singha have settled a case with the market regulator Securities and Exchange Board of India (SEBI) by paying ₹21.75 lakh over alleged violations of alternative investment fund (AIF) regulations.
 
The matter relates to irregularities observed in the Accuracap Vectra Fund, an AIF scheme, during FY23-24. SEBI found that the fund failed to maintain the mandatory minimum corpus of ₹20 crore and did not restore it within the stipulated three-month period. Despite this breach, the scheme was neither wound up nor were investor units redeemed.
 
Further, the fund was also found to have exceeded the permissible investment exposure limit in a single investee company, namely Bajaj Auto Ltd.
 
According to SEBI, these lapses constituted violations of provisions under the SEBI AIF Regulations, 2012, including rules related to minimum corpus requirements, investment limits and the code of conduct applicable to fund managers and key personnel.
 
Following issuance of summary settlement notices in November 2025, the applicants Accuracap Prime Opportunities Fund, Accuracap Technologies LLP and key managerial personnel Naresh Gupta, Mr Nagpal, Prateek Gupta and Ms Singhal opted to settle the case without admitting or denying the findings.
 
They remitted the settlement amount of ₹21.75 lakh within the prescribed timeline, which SEBI has confirmed receiving.
 
As part of the settlement order, SEBI has agreed not to initiate enforcement proceedings for these violations. However, the regulator clarified that it retains the right to reopen the matter if any misrepresentation is later discovered or if settlement conditions are breached.
 
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