Chapter VIII - NET ASSET VALUE AND TIMELINES FOR ALLOTMENT OF MUTUAL FUND UNITS AND PAYMENT OF INVESTMENT PROCEEDS (From Regulation 43 to Regulation 46)
Appointment of trustee in mutual fund lite requires independence, adequate infrastructure and fit-and-proper status for proper discharge of duties. Regulation 61 requires that trustees of mutual fund lite schemes be independent entities, may be debenture trustees for multiple schemes, must satisfy the fit and proper criteria under the Debenture Trustees Regulations, 1993, and possess satisfactory infrastructure, personnel and systems for proper discharge of their duties.
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.
Appointment of trustee in mutual fund lite requires independence, adequate infrastructure and fit-and-proper status for proper discharge of duties.
Regulation 61 requires that trustees of mutual fund lite schemes be independent entities, may be debenture trustees for multiple schemes, must satisfy the fit and proper criteria under the Debenture Trustees Regulations, 1993, and possess satisfactory infrastructure, personnel and systems for proper discharge of their duties.
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