The order was passed after the markets regulator noticed the investors of certain FMPs launched by Kotak Mahindra Mutual Fund were not paid their full proceeds based on the declared Net Asset Value (NV) as on their respective maturity dates. The order will come into force with immediate effect, as per Sebi.source https://economictimes.indiatimes.com/industry/banking/finance/sebi-bars-kotak-amc-from-launching-any-new-fmp-scheme-for-6-months-imposes-rs-50-lakh-penalty/articleshow/85686981.cms
No comments:
Post a Comment