BOI MF settles 'inter-scheme transfer' case with Sebi, pays Rs 3.93 cr

The fund house along with five individuals pay Rs 3.93 crore for the settlement

Sebi
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Securities and Exchange Board of India

Abhishek Kumar Mumbai
The Securities and Exchange Board of India (Sebi) has cleared the one-time settlement application of Bank of India mutual fund (formerly BOI AXA MF) in a case pertaining to inter-scheme transfers in 2018-2019.

The one-time settlement scheme of Sebi allows companies and individuals to settle cases with the regulator by paying a certain amount. They do not have to admit or deny the charges in this settlement process.

According to the regulator, the fund house was found to have violated regulation in 2018-2019 by transferring downgraded debt securities to schemes categorised as low or medium risk funds. The fund house

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First Published: Dec 28 2022 | 11:58 PM IST

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