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L&T MF and ex-officials settle inter-scheme transfer case with Sebi

The matter pertains to inter-scheme transfers of L&T Mutual Fund for the period between April 01, 2017 and June 30, 2018

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BS Reporter Mumbai
L&T Mutual Fund and four of its officials have settled a case pertaining to alleged violation of regulatory norms with the Securities and Exchange Board of India (Sebi) by agreeing to pay a sum of over Rs 1.15 crore.

The matter pertains to inter-scheme transfers of L&T Mutual Fund for the period between April 01, 2017 and June 30, 2018.

“L&T Investment Management failed to avoid conflicts of interest in managing the affairs of the schemes and to keep the interest of all unitholders paramount in all matters…” Sebi has said in an order.

The fund house also “failed to

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First Published: Feb 17 2023 | 8:53 PM IST

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