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SEBI issued Circular 2025/92 clarifying that timeline provisions under paragraph 2.9 of the Master Circular for portfolio rebalancing following passive breaches of mandated asset allocation apply to all types of passive breaches in actively managed mutual fund schemes. The circular addresses situations where prudential limits including issuer, group, and sector limits are breached due to circumstances beyond AMC control such as corporate actions, price fluctuations, security maturity, or large redemptions. The clarification, based on Mutual Funds Advisory Committee recommendations, distinguishes passive breaches from active violations while ensuring uniform application of rebalancing timelines across all passive breach scenarios for investor protection.
SEBI issued Circular 2025/92 clarifying that timeline provisions under paragraph 2.9 of the Master Circular for portfolio rebalancing following passive breaches of mandated asset allocation apply to all types of passive breaches in actively managed mutual fund schemes. The circular addresses situations where prudential limits including issuer, group, and sector limits are breached due to circumstances beyond AMC control such as corporate actions, price fluctuations, security maturity, or large redemptions. The clarification, based on Mutual Funds Advisory Committee recommendations, distinguishes passive breaches from active violations while ensuring uniform application of rebalancing timelines across all passive breach scenarios for investor protection.
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