HDFC Mutual Fund will pay around Rs 7 crore to the investors affected by nearly nine-year old front-running case at the fund house.
The firm has already begun compensating those investors who had suffered losses due to the manipulative activity of its then equities dealer Nilesh Kapadia.
While the dealer was later terminated from service, the fund house had also reached a consent settlement in the matter with the regulatory authority in 2012.
Now, as advised by Sebi (Securities and Exchange Board of India), HDFC Mutual Fund has begun compensating the affected unit holders for the total amount of losses in their accounts due to the front-running activity.
