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SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 21-NOV-2024

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

COMPANIES: DIRECTED TO REFUND A PART OF INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED FROM UNITHOLDERS ALONG WITH SIMPLE INTEREST @15% P.A. FROM DATE OF MATURITY

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1 
History of entity/person KOTAK MAHINDRA ASSET MANAGEMENT CO.LTD.

(PAN:AAACZ1086G)  
  DID NOT PAY FULL PROCEEDS BASED ON DECLARED NET ASSET VALUE (NAV) AS ON RESPECTIVE MATURITY DATES VIOLATING REGULATIONS 10(A), 25(16), 25(19) & 47 AND CLAUSE 9 OF FIFTH SCHEDULE READ WITH PRINCIPLES OF FAIR VALUATION AS PRESCRIBED UNDER EIGHTH SCHEDULE OF SEBI (MUTUAL FUNDS) REGULATIONS, 1996

DID NOT ADHERE TO VARIOUS SEBI CIRCULARS  		DIRECTED TO REFUND A PART OF INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED FROM UNITHOLDERS ALONG WITH SIMPLE INTEREST @15% P.A. FROM DATE OF MATURITY

DIRECTED TO SUBMIT COMPLIANCE REPORT TO SEBI

DIRECTED NOT TO LAUNCH ANY NEW SCHEMES FROM 27-AUG-2021 TO 26-FEB-2022

IMPOSED PENALTY RS.50,00,000

27-AUG-2021 		SAT: SAT VIDE ITS ORDER DATED 21/10/2021 ALLOWED RESPONDENT THREE WEEKS TO FILE REPLY AND APPELLANT TO FILE REJOINDER THREE WEEKS THEREAFTER. IN THE MEANWHILE, DIRECTION TO REFUND A PART OF THE INVESTMENT MANAGEMENT AND ADVISORY FEES COLLECTED BY APPELLANT FROM UNIT HOLDERS TO REMAIN STAYED. DIRECTED APPELLANT TO DEPOSIT RS.20 LAC TO RESPONDENT AS PER IMPUGNED ORDER WITHIN FOUR WEEKS FROM DATE OF THIS ORDER

SAT: SAT VIDE ITS ORDER DATED 17/02/2022 ALLOWED APPELLANT THREE WEEKS TO FILE REJOINDER

SAT: SAT VIDE ITS ORDER DATED 05/04/2022 ALLOWED APPELLANT TO FILE REJOINDER WITHIN THREE WEEKS

SAT: SAT VIDE ITS ORDER DATED 01/12/2022 ALLOWED APPELLANT FURTHER THREE WEEKS TO FILE REJOINDER
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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