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of <h1>Asset Management Companies Must Pay Dividends and Redemptions Timely or Face Interest and Potential Further Action Under Regulation 53.</h1> Regulation 53 of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 mandates that asset management companies must transfer dividend payments and redemption or repurchase proceeds to unitholders within a period specified by the Board. If they fail to do so, they are liable to pay interest on the delayed amounts at a rate set by the Board. Despite paying interest, companies may face further action for delays. Physical dispatch of payments is allowed only in exceptional cases, and records must be maintained for such instances.
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