SEBI is taking a re-look at its October order that had let go of Kotak Asset Management (AMC) and Kotak Mahindra Trustee without levying any penalty for the various violations by Kotak Mutual Fund (MF).
The regulator sparingly uses its powers to review its own orders and the current exercise is because it thinks the October order could have been “erroneous to the extent that it may not be in the interest of the securities market,” sources told BusinessLine.
