Consolidation or Merger of Schemes

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.... regarding consolidation or merger of schemes which mandates that the consolidations shall be viewed as changes in fundamental attributes of the related schemes and the mutual funds shall comply with the requirements laid down in the SEBI (Mutual Funds) Regulations, 1996, for the purpose. In order to facilitate merger of schemes, it has been decided that merger or consolidation shall not be seen ....

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....The letter to unitholders shall be issued only after the final observations communicated by SEBI have been incorporated and final copies of the same have been filed with SEBI. SEBI circular No. SEBI/MFD/CIR No. 05 /12031/03 dated June 23, 2003 stands modified to the aforesaid extent. This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board ....