After SEBI sent separate show cause notices to HDFC Mutual Fund and Kotak Mutual Fund seeking details of the terms of investments and extension of maturity of fixed maturity plan (FMP) due to Essel Group inability to repay has brought the issue in focus once again. The two mutual fund houses made news in April after they couldn’t make complete repayment to the FMP investors. Even as the prominent mutual fund houses defended their agreement with the promoters to extend the repayment period, the market regulator raised questions on the legality of such an arrangement.
Nine big financial changes that you must watch out for in October
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