IndiGrid Investment Managers Ltd has settled a probe by markets regulator Sebi in a case pertaining to the alleged violation of infrastructure investment trust (InvIT) rules after paying Rs 23.4 lakh towards settlement charges.
The case related to IndiGrid Investment Managers allegedly using funds mobilised through borrowings for purposes other than the acquisition or development of infrastructure projects.
The order came after IndiGrid Investment Managers filed a settlement application with Sebi proposing to settle the instant proceedings initiated against it “without admitting or denying the findings of facts and conclusions of law” through a settlement order.
