Motilal Oswal group co gets Sebi's nod for MF biz

Motilal Oswal group today said that it has received Sebi's in-principle approval for its mutual fund business.     

Its group company, Passionate Investment Management Pvt Ltd, has been granted an in-principle approval by market regulator Sebi, to set up a mutual fund business, a release issued here stated.     

Commenting on this development, Motilal Oswal Financial Services Chairman and Managing Director Motilal Oswal said, "This approval is another step in the direction of us realising our vision of being a full-fledged, global financial services company."