Sebi floats consultation paper on sachetisation of mutual funds; seeks public comment, ET LegalWorld
To increase the reach and facilitate participation from low-income groups in mutual funds, regulator Sebi on Wednesday floated a consultation paper on ‘sachetisation’ of mutual funds. In its consultation paper, Sebi has proposed a sachetized mutual fund product –small ticket systematic investment plan (SIP) of Rs 250. Further, small ticket SIPs can be offered in […]
SEBI issues guidelines on eased rules for passive funds, ET LegalWorld
India’s markets regulator on Tuesday issued the eligibility criteria that passively managed mutual funds will have to meet to access its eased rules, including setting up a minimum assets under management (AUM) threshold. The Securities and Exchange Board of India (SEBI) had first proposed a series of easier rules for such mutual funds in July, […]
SC disposes plea seeking direction to oil firms to divert CSR funds towards public transport, ET LegalWorld
The Supreme Court has disposed of a Public Interest Litigation (PIL) seeking directions to public and private sector oil companies to divert part of their Corporate Social Responsibility (CSR) funds towards improving public transport services in Delhi and other polluted cities. However, a Bench headed by Justice B.V. Nagarathna granted liberty to the PIL litigant […]
Emerging India Focus Funds settles case with Sebi, Legal News, ET LegalWorld
Foreign portfolio investor Emerging India Focus Funds has settled a case pertaining to the alleged violations of FPI rules with capital markets watchdog Sebi after paying Rs 64.35 lakh as settlement charges. In a corrigendum to its settlement order, Sebi on Tuesday said that the case concerns to non-compliance with the ‘fit and proper’ criteria […]
Sebi asks CRAs to verify issuers’ funds availability, escrow payments in certain cases, ET LegalWorld
Markets regulator Sebi on Monday directed Credit Rating Agencies (CRAs) to verify the issuer’s fund availability and ascertain the reasons for payment failure in cases where non-payment of debt arises due to factors beyond the issuer’s control. Also, CRAs have to ensure that the required payments are deposited into an escrow account on the due […]
Emerging India Focus Funds settles FPIs violation case with Sebi; pays ₹64.35 lakh, ET LegalWorld
Emerging India Focus Funds on Monday settled a case concerning the alleged violations of Foreign Portfolio Investor (FPI) rules with markets regulator Sebi on payment of Rs 64.35 lakh towards settlement charges. This came after the applicant filed an application with Sebi proposing to settle the proceedings initiated against it, “without admitting or denying the […]
Sebi allows MFs to invest in overseas funds with exposure to Indian securities, ET LegalWorld
Markets regulator Sebi on Monday allowed mutual funds (MFs) to invest in overseas mutual funds or unit trusts that invest a specific portion of their assets in Indian securities. This is subject to the total exposure to Indian securities by such overseas funds not exceeding 25 per cent of their net assets. The move is […]
SC upholds NCLT’s order that allowed interim distribution of funds from escrow account of BKEL, ET LegalWorld
The Supreme Court on Monday upheld the National Company Law Appellate Tribunal’s September 19 order that allowed interim distribution of funds from the escrow account of Baleshwar Kharagpur Expressway Ltd. (BKEL), an arm of IL&FS Transportation Networks Ltd. (ITNL). A Bench led by Chief Justice D.Y. Chandrachud rejected the Infrastructure Leasing & Financial Services’ (IL&FS) […]
Three mutual fund houses file draft documents with Sebi to launch 3 thematic funds, ET LegalWorld
Three mutual funds filed draft documents with Sebi last week to launch new funds. These fund houses together will launch three thematic schemes. The drafts are filed by Axis Mutual Fund, Edelweiss Mutual Fund, and Motilal Oswal Mutual Fund. These schemes will be based on Build India, innovation and consumption themes. Axis Build India Fund […]
Funds And Properties Of The Parsi … vs Minoo Keki Mistry And Ors on 9 October, 2024
Bombay High Court Funds And Properties Of The Parsi … vs Minoo Keki Mistry And Ors on 9 October, 2024 2024:BHC-AS:40200 k 1/28 911_wp_13291.24_as.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.13291 OF 2024 1. Funds and Properties of the Parsi Punchayet, Bombay, who are vested with the properties […]