January 27, 2000
PR No. 20/2000
Surrender of registration by GE (SRF) Mutual Fund.
SRF Mutual Fund was granted the certificate of registration under the SEBI (Mutual Funds) Regulations 1993 on October 01, 1996. Subsequently, SRF Finance, the Sponsor of the Mutual Fund was acquired by GE Capital Transportation Services Ltd. w.e.f. July 24, 1997 and the name of the Asset Management Company was changed from SRF Asset Management Company to GE Capital Asset Management Co.
The Asset Management Company did not comply with the networth requirement in accordance with SEBI (Mutual Funds) Regulations 1996 and did not launch any schemes. The matter was taken up with them and they have surrendered the Certificate of Registration.. SEBI has also withdrawn the approval granted to GE Capital Asset Management Co. Consequently, they cannot carry out any asset management activities as provided under SEBI (Mutual Funds) Regulations 1996.