The Securities and Exchange Board of India (Sebi) has served a fresh show cause notice to Kotak Mahindra Asset Management for delay in repayment of money to unitholders of four close-ended debt schemes that held securities of Essel Group on their maturity, said three people with direct knowledge of the matter. The regulator has alleged that Kotak Mutual has violated rules that require fund houses to pay back the entire money on the declared net asset value (NAV) when a scheme matures, said the people mentioned above.
IRDAI brings life, health insurance down to the grassroots level
Read More
