SEBI issues notices to HDFC and Kotak MFs over FMP issues
May 14 2019
News Category: Regulatory Updates
According to media reports, Securities and Exchange Board of India (SEBI) has issued show-cause notices to HDFC Mutual Fund and Kotak Mutual Fund asking the fund companies to furnish details of their investment terms with Essel Group’s debt securities. The market regulator wants to delve deeper into the legality of the fund houses’ arrangement with Essel Group to understand how the latter got extension till Sep 2019 for loan repayment.