Merger of mutual fund schemes not deemed change in fundamental attributes if conditions met and SEBI approvals obtained. Merger of mutual fund schemes is not a change in the fundamental attributes of the surviving scheme if the surviving scheme's fundamental attributes remain unchanged and the mutual fund demonstrates that the merger is justified and that unitholders' interests are not adversely affected; board and trustee approvals are required, the proposal must be filed with SEBI, SEBI will communicate observations within the prescribed timeframe, and the letter to unitholders may be issued only after incorporation of SEBI's final observations and filing of final copies.
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.
Merger of mutual fund schemes not deemed change in fundamental attributes if conditions met and SEBI approvals obtained.
Merger of mutual fund schemes is not a change in the fundamental attributes of the surviving scheme if the surviving scheme's fundamental attributes remain unchanged and the mutual fund demonstrates that the merger is justified and that unitholders' interests are not adversely affected; board and trustee approvals are required, the proposal must be filed with SEBI, SEBI will communicate observations within the prescribed timeframe, and the letter to unitholders may be issued only after incorporation of SEBI's final observations and filing of final copies.
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