Uniform cut-off timings for NAV applicability ensure consistent valuation and investor protection across mutual fund schemes. The circular prescribes uniform cut-off timing rules for NAV applicability across mutual fund schemes (excluding international schemes and exchange-traded transactions), distinguishing operative NAV determination for liquid fund schemes and for other schemes based on receipt time and payment instrument type; mandates uniform application to all investors, timely deposit of subscription instruments with bank facilities, remedial liability for losses from non-compliance, time-stamping at disclosed official points with tamper-proof machines per Schedule II, record preservation, and specified compliance and disclosure reporting to trustees and the Board.
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Provisions expressly mentioned in the judgment/order text.
Uniform cut-off timings for NAV applicability ensure consistent valuation and investor protection across mutual fund schemes.
The circular prescribes uniform cut-off timing rules for NAV applicability across mutual fund schemes (excluding international schemes and exchange-traded transactions), distinguishing operative NAV determination for liquid fund schemes and for other schemes based on receipt time and payment instrument type; mandates uniform application to all investors, timely deposit of subscription instruments with bank facilities, remedial liability for losses from non-compliance, time-stamping at disclosed official points with tamper-proof machines per Schedule II, record preservation, and specified compliance and disclosure reporting to trustees and the Board.
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