HDFC Mutual Fund and its top management have paid Rs 4.2 crore to the market regulator Sebi to settle the case of the fund’s investments in the debt instruments of Essel Group, which faced a payment crisis last year.
“The HDFC AMCNSE -5.96 % had invested on behalf of the mutual fund in the debt instruments of Essel group of companies…It is alleged that the mutual fund herein had defaulted in complying with the .. regulations, adhering to the requisite standards and thus failed to exerc ..
