Liability for action in case of default triggers regulatory proceedings under SEBI intermediaries regulations against mutual funds and related parties. A mutual fund, its asset management company or trustees commit defaults by contravening the Act or these regulations, furnishing wrong or incomplete information, failing to submit periodical returns, not cooperating in Board inquiries, disobeying Board directions, not resolving investor complaints, engaging in unfair trade practices or misconduct contrary to the Fifth Schedule, failing net worth requirements, non-payment of fees, violating registration conditions, or failing to perform regulatory obligations; such defaults are to be dealt with under Chapter V of the SEBI Intermediaries Regulations, 2008.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Liability for action in case of default triggers regulatory proceedings under SEBI intermediaries regulations against mutual funds and related parties.
A mutual fund, its asset management company or trustees commit defaults by contravening the Act or these regulations, furnishing wrong or incomplete information, failing to submit periodical returns, not cooperating in Board inquiries, disobeying Board directions, not resolving investor complaints, engaging in unfair trade practices or misconduct contrary to the Fifth Schedule, failing net worth requirements, non-payment of fees, violating registration conditions, or failing to perform regulatory obligations; such defaults are to be dealt with under Chapter V of the SEBI Intermediaries Regulations, 2008.
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