Investment decision recordkeeping required: mutual funds must document due diligence and trustees must report compliance to regulator. SEBI requires AMCs to maintain documentary support for each investment decision demonstrating exercise of due diligence, including detailed research reports for initial investments and recorded reasons for subsequent trades; boards must verify due diligence, with heightened scrutiny for unlisted/private placements, unrated debt, NPAs and associate transactions, and trustees must review and report compliance to SEBI, using auditors where appropriate.
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.
Investment decision recordkeeping required: mutual funds must document due diligence and trustees must report compliance to regulator.
SEBI requires AMCs to maintain documentary support for each investment decision demonstrating exercise of due diligence, including detailed research reports for initial investments and recorded reasons for subsequent trades; boards must verify due diligence, with heightened scrutiny for unlisted/private placements, unrated debt, NPAs and associate transactions, and trustees must review and report compliance to SEBI, using auditors where appropriate.
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