Supreme Court upholds SEBI action against Kotak AMC
pre-market1 source ↓written by the desknot a recommendation
- on Kotak AMC
- ₹30 lakh
- on Kotak Trustee
- ₹20 lakh
The Supreme Court upheld SEBI's penalties against Kotak Mahindra Asset Management Company for failing to exercise due diligence in the Essel Group fixed maturity plan case. The court dismissed appeals from Kotak AMC and imposed litigation costs of ₹30 lakh on Kotak AMC and ₹20 lakh on Kotak Trustee, reinforcing market integrity regulations. 📉
This ruling emphasizes the importance of compliance in asset management, potentially impacting investor confidence and regulatory scrutiny in the sector.
Not investment advice. For informational purposes only.