Mutual funds are contesting the insider trading charges by Securities and Exchange Board of India (Sebi) against them for trades in Manappuram Finance, said three people privy to the development.
The capital markets regulator had sent show cause notices to nine entities including SBI Mutual Fund and Aditya Birla Sun Life Mutual Fund for trading shares of Manappuram based on a research report published by brokerage Ambit Capital. The report allegedly contained unpublished price sensitive ..
