Cancellation of registration issued to Indian Bank Mutual Fund for conduct of Mutual Fund business

Indian Bank Mutual Fund was granted the certificate of registration under the SEBI (Mutual funds) Regulations, 1993 on March 17,1994. Subsequently, Indian Bank Mutual Fund has hived off all their existing schemes to Tata Mutual Fund after giving an exit option to all the unitholders in accordance with the provisions of the SEBI (Mutual Funds) Regulations, 1996, SEBI has now cancelled the certificate of registration of Indian Bank Mutual Fund and approval granted to Ind Fund Management Ltd, the asset management company has been withdrawn. Consequently, the mutual fund, trustee company or asset management company cannot carry out any activity as a mutual fund, trustees or asset management company as the case may be, in accordance with the regulations.