[ad_1]

L&T Mutual Fund ceases to exist as a mutual fund, capital markets regulator SEBI stated on Monday.

This comes after L&T Mutual Fund Trustee Ltd. had knowledgeable SEBI that it wished to give up the registration granted to L&T Mutual Fund by the markets regulator pursuant to the approval of change accountable for L&T Funding Administration Ltd and merger of schemes of L&T MF with HSBC Mutual Fund.

Following this, SEBI has accepted the request for give up of L&T MF’s certificates of registration.

“Consequently, L&T MF ceases to exist as a mutual fund with impact from April 6, 2023,” the Securities and Trade Board of India stated in a press release.

Additional, it stated L&T MF will proceed to be accountable for all liabilities/ obligations, (together with financial penalties) for violations of the provisions of the SEBI Act and (Mutual Fund) rules which have taken place earlier than its give up of certificates of registration.

. Learn extra on Regulation & Coverage by BloombergQuint.

[ad_2]