Canara Robeco Asset Management pays Rs 84.82 lakh to Sebi to settle MF rule violation case

NewsDrum Desk
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New Delhi, Jun 11 (PTI) Canara Robeco Asset Management Company Ltd on Tuesday settled a case with markets regulator Sebi in a case pertaining to alleged violation of mutual fund norms after paying Rs 84.82 lakh towards settlement charges.

The case was related to offsite cum surveillance of the mutual fund for the period April 2020-March 2021.

This came after the asset management firm filed an application with Sebi proposing to settle the proceedings initiated against it for the alleged regulatory violations, "without admitting or denying the findings of facts" through a settlement order.

Canara Robeco Asset Management Company has paid Rs 84.82 lakh to Sebi towards settlement amount.

"In view of the acceptance of the settlement terms and the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against the noticee (Canara Robeco) vide SCN (show cause notice)... dated October 14,2022 is disposed of in terms of the Settlement Regulations," the regulator said.

In its show cause notice, Sebi had alleged that Canara Robeco Asset Management Company violated mutual fund norms. PTI SP HVA