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HSBC AMC and four trustees have settled with SEBI by jointly paying Rs.23.92 lakh for alleged violation of SEBI norms.
The regulator alleged that the fund house did not maintain proper segregation of assets and liabilities between two of its scheme.
The show-cause notice alleged that HSBC AMC and its trustees failed to prevent the use of funds from one scheme to another scheme of the fund house.
Jasmine Batliwala, Nani Javeri, TC Nair and Ho Wai Fun are the trustees named in the settlement order issued by SEBI.
