 "Sebi")
The Securities and Exchange Board of India (Sebi) on Friday restrained Kotak Mahindra Asset Management Company (AMC) from launching any new fixed-maturity plans for six months.
The regulator also imposed a penalty of Rs 50 lakh on the fund house for allegedly violating provisions of the Sebi Act and various circulars it issued.
In its order Sebi stated Kotak Mahindra AMC would refund part of the investment management and advisory fees collected from the unitholders of six fixed-maturity plans (FMPs) schemes at a simple interest rate at 15 per annum from the date of maturity of such schemes till the date of
