Sebi cancels registration of KJMC Mutual Fund

Sebi today revoked the registration of KJMC Mutual Fund following a request from it.

The Securities and Exchange Board of India (Sebi) has also withdrawn the approval granted to KJMC Asset Management Company (AMC), to act as the AMC to the mutual fund.

Last month, the regulator had cancelled the registration certificate of JP Morgan Mutual Fund following the transfer of its schemes to Edelweiss Mutual Fund.

It had also scrapped the approval given to JP Morgan Asset Management India to act as an asset management company (AMC) to JP Morgan Mutual Fund.

In a release, Sebi said pursuant to the "request" of KJMC Mutual Fund, the regulator vide its letter dated June 20, has cancelled the certificate of registration of KJMC Mutual Fund.

The regulator has "withdrawn" the approval granted to KJMC AMC, to act as the AMC to the mutual fund, it added.

"Consequently, with immediate effect, the KJMC Mutual Fund, KJMC Investment Trust Company Ltd (trustee company) and KJMC Asset Management Company Ltd cannot carry out any activity as a mutual fund, trustee company and asset management company, respectively," Sebi said.