https://www.taxtmi.com/caselaws?id=771350 SEBI circulars on segregated portfolios in mutual fund schemes were held not to operate retrospectively on a credit event that occurred before their issuance. The creation of a segregated portfolio was treated as an optional mechanism for the asset management company, not a mandatory direction enforceable for past events. The reopening of the scheme and distribution of recoveries to existing investors were supported by approvals, disclosures, and prevailing market practice, so no interference was warranted with the complaint disposal. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 24 May 2025 09:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771350 SEBI circulars on segregated portfolios in mutual fund schemes were held not to operate retrospectively on a credit event that occurred before their issuance. The creation of a segregated portfolio was treated as an optional mechanism for the asset management company, not a mandatory direction enforceable for past events. The reopening of the scheme and distribution of recoveries to existing investors were supported by approvals, disclosures, and prevailing market practice, so no interference was warranted with the complaint disposal. Case-Laws SEBI Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771350