MF News SEBI settles HDFC MF front-running case through consent order

SEBI settles HDFC MF front-running case through consent order

Team Cafemutual Oct 3, 2011

Mumbai: Market regulator SEBI has settled the alleged violations in the front running case against HDFC Trustee Co. Ltd, HDFC AMC and Milind Barve, MD & CEO, HDFC MF through a consent order issued on September 30, 2011.

HDFC MF and HDFC Trustee Co. Ltd have paid Rs. 20 lakh each as settlement charges while Milind Barve has paid Rs. 15 lakh to SEBI without admitting or denying guilt.

Subsequently SEBI agreed to wind up the case by accepting the consent terms proposed by HDFC MF.

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