Delay costs Rs 14.62 lakh: Omnivore settles Sebi case over fund closure; regulator drops enforcement move

Omnivore India Capital Trust and its advisor settled with Sebi for Rs 14.62 lakh due to an eight-month delay in winding up a venture capital fund. The fund missed the regulatory deadline of April 15, 2024, for liquidation, completing the process only on December 3, 2024, violating Venture Capital Fund norms and Alternative Investment Fund rules.