Sebi bars Kotak AMC from launching new FMP schemes for 6 months, imposes Rs 50 lakh penalty

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.

from Banking/Finance-Industry-Economic Times https://ift.tt/3mANFUP