CANCELLATION OF REGISTRATION OF 
GFC MUTUAL FUND AND ASIA PACIFIC MUTUAL FUND
 
MUTUAL FUNDS DEPARTMENT

In accordance with the provisions of the SEBI (Mutual Funds) Regulations, 1996, SEBI has cancelled the certificate of registration of GFC Mutual Fund and Asia Pacific Mutual Fund and approval granted to their asset management companies have been withdrawn. According to findings of enquiry report, the asset management companies no longer fulfill the eligibility criteria, have defaulted in payment of fees to SEBI and it is not in the interest of investors, unitholders, other mutual funds as well as the securities market if these mutual funds carry out their activities under the Regulations. 
 
These mutual funds have not been allowed to launch any scheme since their registration. Earlier an Order was passed under Section 11B of the SEBI Act in 1997 prohibiting these mutual funds from carrying on any mutual fund activity