June 04, 2009
PR No. 181/2009
Order in the matter of Reliance Mutual Fund and Reliance Capital Asset Management Limited
Shri Prashant Saran, Whole Time Member, SEBI, has passed an order dated June 03, 2009 with respect to non compliance of SEBI Circular No. SEBI/IMD/CIR No.12/118340/08 dated February 26, 2008 on �Standard warning in Advertisements by Mutual Funds� by Reliance Mutual Fund and Reliance Capital Asset Management Limited in connection with their New Fund Offer of �Reliance Infrastructure Fund�.
Reliance Mutual Fund and Reliance Capital Asset Management Limited have been directed to forthwith withdraw the advertisement in its current form and re-issue the same, if it is so desired, strictly in compliance with the provisions of the said SEBI circular.
Further, Reliance Mutual Fund and Reliance Capital Asset Management Limited have been asked to show cause as to why they should not be restrained from launching any new scheme for an appropriate period.
Mumbai
June 04, 2009
|
