The Securities and Exchange Board of India (SEBI) has convened a board meeting on June 27 to consider an overhaul in the mutual fund industry regulations, and guidelines on DVR shares with superior voting rights, among other things.
At the meeting, SEBI plans to take in-principal approval for changes in the method of calculation of Net Asset Value (NAV). “Mutual Fund companies indulge in buying and selling of funds from each other just to boost the NAV. This practice called inter-scheme transfer has come into the notice of the regulator," a source told Moneycontrol.
