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SOURCE OF INFORMATION

SOURCE OF INFORMATION : SECURITIES AND EXCHANGE BOARD OF INDIA WEBSITE – PRESS RELEASES/ CHAIRMAN’S AND MEMBER’S ORDERS / AO ORDERS/ SAT ORDERS/ NEWSPAPER ADS
UPDATED TILL : 03-JUL-2025

NAMES IN BROWN COLOUR
Names of entities/persons in brown colour denote that the regulatory order is not against them but their names have been mentioned only for association purposes.

MUTUAL FUNDS: DID NOT EXERCISE DUE SKILL, CARE & DILIGENCE

S.No. ENTITY PERSONS REGULATORY CHARGES REGULATORY ACTION(S) / DATE OF ORDER FURTHER DEVELOPMENTS
1
History of entity/person GFC MUTUAL FUND  
  VIOLATED SEBI ACT, RULES & REGULATIONS   DIRECTED NOT TO LAUNCH ANY NEW SCHEMES FROM 19-JUN-1997

19-JUN-1997 		 
2
History of entity/person JM FINANCIAL MUTUAL FUND  
  DID NOT EXERCISE DUE DILIGENCE   IMPOSED PENALTY RS.5,00,000

31-AUG-2004 		SAT: IMPUGNED ORDER SET ASIDE  
3
History of entity/person KOTAK MAHINDRA MUTUAL FUND  
  DID NOT GIVE THE REQUIRED 21 DAYS PRIOR NOTICE TO BOARD AND INVESTORS   IMPOSED PENALTY RS.50,000

26-FEB-2003 		SAT: APPEAL ALLOWED  
The regulatory charges/regulatory actions may be fully or partly applicable to the entities/persons mentioned in the second column.

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