Supreme Court backs SEBI's fine on Kotak AMC, rejects profit-based defense
The Supreme Court has maintained the ₹2.1 crore penalty imposed by SEBI on Kotak AMC, along with its trustee and six officials, for breaching mutual fund rules. Kotak had postponed investor redemptions across six fixed-maturity plans to reorganize debt linked to the Essel Group. The court dismissed the firm's claim that its actions protected investor gains, stating that maintaining market integrity must remain the top priority.
by shortkt.com✓