Listen to this article
Axis Mutual Fund has settled a case with SEBI by paying Rs.16.57 lakh for the alleged violation of TER guidelines.
The fund house had allegedly charged excess expenses in one of its schemes.
The High-Powered Advisory Committee of SEBI held a meeting on September 06, 2024 and considered the settlement terms proposed by the fund house, said the regulator.
Axis AMC and Axis MF proposed to settle the instant proceedings initiated against them, without admitting or denying the findings of facts and conclusions of law. The settlement has been done in terms of the provisions of SEBI (Settlement Proceedings) Regulations, 2018, clarified the regulator.
