Deccan Value Investors L.P.

Allegations: THE ORDER INCLUDED FINDINGS THAT DECCAN BREACHED ITS FIDUCIARY DUTIES. WITHOUT ADMITTING OR DENYING THE FINDINGS THEREIN, DECCAN AND ITS PRINCIPAL OWNER, VINIT BODAS, CONSENTED TO THE ENTRY OF AN ORDER INSTITUTING ADMINISTRATIVE AND CEASE-AND-DESIST PROCEEDINGS BY THE SECURITIES AND EXCHANGE COMMISSION ON AUGUST 3, 2022 (THE "ORDER"), WHICH INCLUDED FINDINGS THAT DECCAN VIOLATED SECTIONS 204(A), 206(2) AND 206(4) AND RULES 204-2(A)(7), 206(4)-7 AND 206(4)-8 OF THE INVESTMENT ADVISERS ACT OF 1940 ("ADVISERS ACT"). THE ORDER INCLUDED FINDINGS RELATING TO DECCAN'S BREACH OF FIDUCIARY DUTIES IN VIOLATION OF THE ADVISERS ACT WHEN HANDLING REDEMPTIONS FOR TWO INVESTORS AND WHEN UNREASONABLY FAILING TO TIMELY DISCLOSE DECCAN'S INTENT TO DECLARE A SIDE-POCKET TO ONE REDEEMING INVESTOR. IN ADDITION, THE ORDER FOUND THAT DECCAN FAILED TO ADOPT AND IMPLEMENT POLICIES AND PROCEDURES REASONABLY DESIGNED TO PREVENT VIOLATIONS OF DECCAN'S FIDUCIARY DUTIES WITH RESPECT TO CLIENT OR INVESTOR REDEMPTIONS AS WELL AS ITS RECORDKEEPING OBLIGATIONS. THE ORDER FOUND THAT MR. BODAS HAD SECONDARY RESPONSIBILITY FOR DECCAN'S VIOLATIONS AS A RESULT OF ACTS OR OMISSIONS THAT HE KNEW OR SHOULD HAVE KNOWN WOULD CONTRIBUTE TO THE VIOLATIONS. Status: Final Sanction Detail: ON AUGUST 15, 2022, DECCAN AND BODAS EACH COMPLETED PAYMENT OF THEIR CIVIL MONETARY PENALTY (RESPECTIVELY $1,139,501 AND $500,000) Summary: THE SEC ISSUED AN ADMINISTRATIVE PROCEEDINGS FINDING VIOLATIONS DESCRIBED ABOVE UNDER ITEM 7 OF THIS DRP. AS NOTED IN THE ORDER, DECCAN ENGAGED AN INDEPENDENT COMPLIANCE CONSULTANT TO REVIEW ITS COMPLIANCE, POLICIES AND PROCEDURES WITH RESPECT TO BOOKS AND RECORDS AND INVESTORS AND CLIENT REDEMPTIONS, IN ACCORDANCE WITH THE ORDER. ON AUGUST 15, 2022, DECCAN AND BODAS EACH COMPLETED PAYMENT OF THEIR CIVIL MONETARY PENALTY (RESPECTIVELY $1,139,501 AND $500,000).