https://www.taxtmi.com/circulars?id=62585 Consolidation of mutual fund schemes is a change in fundamental attributes and requires approval by the Boards of the AMC and Trustees, and filing of the proposal, draft offer document and draft unitholder letter with SEBI. Unitholders must be offered an exit at prevailing NAV without exit load with specified disclosures including the new scheme's features, unit allocation illustration, percentages of NPAs and illiquid assets, and tax impact. AMCs must maintain dispatch records and file a report to SEBI detailing unitholder numbers and net assets pre- and post-consolidation. en-us Mon, 23 Jun 2003 00:00:00 +0530 Wed, 25 Sep 2019 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62585 Consolidation of mutual fund schemes is a change in fundamental attributes and requires approval by the Boards of the AMC and Trustees, and filing of the proposal, draft offer document and draft unitholder letter with SEBI. Unitholders must be offered an exit at prevailing NAV without exit load with specified disclosures including the new scheme's features, unit allocation illustration, percentages of NPAs and illiquid assets, and tax impact. AMCs must maintain dispatch records and file a report to SEBI detailing unitholder numbers and net assets pre- and post-consolidation. Circulars SEBI Mon, 23 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62585